Professional Indemnity Insurance
Anyone providing advice or design services should consider PI Insurance as this is excluded from their standard Public Liability Policy.
Many professions are required to have PI insurance cover as a regulatory requirement or as a result of their professional authorisation. This includes solicitors, accountants, architects, mortgage intermediaries, insurance brokers and financial advisers. Many contractors are also being asked to arrange this cover within their contracts.
We can help you assess your insurance requirements whether professionally or under contract and arrange the right level of cover. We can then provide prompt proof to your clients or regulatory body. Cover can be tailored to your requirements and Insurance is arranged with leading UK Insurers.
PI insurance protects the business/individuals against claims for loss or damage by a client or a third party if mistakes are made and they suffer a financial loss emanating from the advice or design services provided. PI insurance can also cover legal costs as often it is the defence of your position to prove you were not negligent which can be the most costly part of a claim.
We have access to an abundance of mainstream insurance companies but also, just as importantly, to a range of niche insurers that offer exclusive products to just a handful of Insurance brokers in the country. Insurers are adept at responding quickly to Collateral Warranty requirements.
Cover can be arranged either in the aggregate or for any one occurrence. Varied excess levels are available and retroactive cover can be arranged as well as insurance for higher risk trades such as asbestos surveying.