Professional indemnity insurance covers legal costs and expenses incurred in your defence, as well as any costs that may be awarded, if you are alleged to have provided inadequate advice, services or designs that cause your client to lose money. The most common types of claims brought against professionals involve allegations of professional negligence and/or misleading and deceptive conduct.
Professional Indemnity insurance will generally cover:
- Legal costs incurred in the defence and investigation of a Professional Indemnity claim
- Any compensation required to be paid by the insured in order to dispose of a Professional Indemnity claim.
Damages awarded against professionals can be substantial and will generally relate to financial loss, bodily injury or property damage suffered by the claimant as a result of relying on the professional’s advice and/or services.
Professions that should consider professional indemnity insurance include (but are not limited to):
- Management and business consultants such as marketing consultants, training consultants and education consultants
- IT professionals including IT contractors, consultants, programmers and developers
- Recruitment agencies and recruitment consultants
- Designers such as web designers, graphic designers and interior designers
- Fitness professionals including personal trainers, dance teachers and yoga instructors
- Teachers and tutors including private tutors,
PSC Connect Member Brokers specialise in Professional Indemnity Insurance and can provide the cover most appropriate for your company requirements. Through leading insurers, our Member Brokers can offer a comprehensive range of products that can be cover most risks at a competitive price.
Our experienced PSC Connect Member Brokers can help you get the right insurance cover by assessing your specific needs and recommending the best value insurance solution for your business, whilst still maintaining the highest standard of cover.