Professional indemnity

Everyone makes mistakes

But if you give professional advice for a living, one small mistake could result in expensive lawsuits and a damaged business’ reputation. Professional indemnity insurance gives you peace of mind that your assets and brand will be protected if the advice you provide causes a client to take legal action.

DO YOU NEED IT?

Professional Indemnity Insurance is an essential form of insurance for businesses that provide advice or offer professional services to third parties. This type of insurance can protect a business from the financial consequences of any mistakes, errors, or omissions made during the course of providing these services. It can also cover the cost of defending against legal claims or allegations of professional negligence, breach of duty, or breach of contract.

Why do you need it?

It protects your business against allegations, negligence, your breach of professional duty or incorrect advice & professional misconduct that you provide to third parties

What does it cover?

A Professional Indemnity Insurance policy can cover you for:
  • Legal representation costs & expenses for the investigation & defence or settlement of your claim.

What People Say

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Frequently Asked Questions

If you need to file a claim with My Insurance Specialist, you can visit our claims page for more information. This page is designed to provide you with a straightforward and streamlined process for reporting a claim and getting the support you need to resolve any issues as quickly and efficiently as possible.

Certain professions are more likely to require professional indemnity insurance than others. These include professions where there is a high risk of financial loss or damage to clients due to mistakes or errors. Examples include lawyers, accountants, architects, engineers, and IT consultants. However, it’s important to note that any profession that provides professional advice or services could benefit from professional indemnity insurance.

The amount of coverage you need will depend on a number of factors, including the size of your business, the type of services you provide, and the level of risk associated with your profession. It’s important to consider the worst-case scenario when choosing your coverage limits, as you’ll want to be sure you’re protected in the event of a large claim. Many professional associations or regulatory bodies have minimum coverage requirements that must be met, so it’s important to check if there are any specific requirements for your profession.

The cost of professional indemnity insurance will depend on a number of factors, including the size of your business, the type of services you provide, your claims history, your level of coverage, and the level of risk associated with your profession. Businesses that offer high-risk services or have a history of claims will typically pay higher premiums.

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