Litigation can be expensive. Protect your business from Errors & omissions.
Professional Indemnity cover protects businesses from financial loss & legal costs against errors & omission made during their professional service. Claims can arise from:
- Civil/contract liability and/or negligence
- Further cover can include libel & slander
- Copyright infringement
- Breach of confidentiality
- Dishonesty from employee
We can cover most industries even those at a higher risks such as: Solicitors, IFA’s, Law firms, Care, Surveyors, Architects.
We have our own schemes for Property agents including Property & Deal sourcing, Rent-to-Rent and project co-ordinators.
Not all covers are the same and certain industries may have limitations on previous work, the indemnity limit and legal costs. We will explain the cover on your policy offered.
What Limit of Indemnity should you take?
This needs to cover your maximum potential loss. This may be determined by your largest contract or by a particular regulated body. Our covers start at £100k, however legal costs and claim pay-outs are forever rising so this minimum limit may not be suitable.
We can offer cover up to £2,000,000 as standard but don’t worry if you need more, we can source higher limits if required.
Avoid Gaps in Cover and Beware When Cancelling
Professional Indemnity policies are written on a claims made basis. This means that it provides indemnity for claims notified to the insurer within the policy period. In many occasions claims can be brought up to 6 six years after the event but the it’s the insurer at the time the claim is made that will provide cover.
Once a policy has expired no further claims can be notified, even if they happened in the past but not yet notified. This is why it is important to avoid gaps in cover or look for run-off cover if you are winding down or selling your business.