HOME ABOUT US WHY USE US SERVICES CLAIMS TESTIMONIALS NEWS CONTACT 01270 758056 PROFESSIONAL INDEMNITY INSURANCE Professional Indemnity Insurance (PI insurance) is liability insurance that covers your legal liabilities in the event of a third party taking legal action against you, claiming to have suffered a loss as a result of advice that you have given in a professional capacity. Professional Indemnity Insurance is compulsory for some professional trades and services. These tend to be the more traditional professions such as independent financial advisers, solicitors, insurance brokers, accountant and architects. However the increased use of external consultants and outsourcing other services means that more businesses should consider their risks. A ‘professional’ is now generally regarded as any person who offers ‘specialist advice or services’. This definition can include IT consultants, business consultants, marketing consultants, management consultants, interior designers, graphic designers and many more. Here are some of the things that could give rise to a claim against your business and for which you could be covered by professional indemnity insurance: Professional negligence or breach of duty of care Infringement of copyright and intellectual property rights Breach of confidentiality Libel and slander Loss of or damage to documents or data belonging to your clients Dishonesty of your employees Without Professional Indemnity Insurance companies run the risk of being sued for all sorts of claims and having to foot the bill. As a professional, you owe a legal ‘duty of care’ to your clients. If you breach that duty of care by making a mistake in the services you provide, your client can claim compensation from you for losses and expenses caused by your negligence. Today’s commercial environment is becoming increasingly litigious with clients seeking compensation far more frequently than in the past. Even if the allegation made against you is false, the legal costs involved in defending the claim can be very high. Without a valid Professional Indemnity insurance policy you will be left to defend the allegations and will have to instruct a lawyer and pay for the subsequent legal costs involved. In the majority of cases the claim will settle before going to court, but even in very minor disputes the legal costs can build up very rapidly. With the right Professional Indemnity policy, the only cost you’ll have to pay is the excess on the policy, no matter how high the legal costs involved! For more information regarding arranging Professional Indemnity Insurance see here. For further information, please contact us today. Find your profession Accountants Actuaries Advertising & Media Professionals Advertising Agents Architects Asbestos surveyors Bookkeepers Brand Consultants Building project managers Building surveyors Business and Management Consultants Career Consultants Catering Consultants Claims Adjusters Claims Assessors Clerk of works Communication Consultants Company Search Agents Compliance Consultants Computer Analysts Computer Consultants Computer Engineers Computer Hardware Consultants Computer Programmers Computer Repairs and Servicing Computer Software Consultants Computer Training Consultants Construction Professionals Construction Project Managers Copywriters Damp Proof Control Surveyors Data Migration Consultants Data Processors Data Protection Consultants Database Consultants Desk Top Publishers Dieticians Direct Marketing Professionals Education Consultants Energy & Heating Consultants Energy Consultants Environmental Consultants Estate Agents Estimators Facilities Managers Food Safety Consultants Graphic Designers Health and Safety Consultants Heating Costs Consultants Human Resources Consultants Image Consultants Immigration consultants Information Technology Consultants Interim Managers Interior Furnishing Consultants Interpreters IT consultants IT Contractors IT Project Managers Law Search Agents Market Researchers Marketing Consultants Media professionals Nutritionists Party Wall Surveyors Printers Procurement Consultants Project Managers Property Auditors Public Relations Consultants Quality Assurance Consultants Quantity Surveyors Recruitment Consultants Secretarial Services Software Developers Surveyors Telemarketers Training Consultants Transport & Traffic Consultants Website Marketing R K Henshall & Co Ltd, The Grove, Mill Lane, Wheelock, Sandbach, Cheshire CW11 4RD. Copyright © Hensure | Hensure Business Insurance Consultants is a trading name of RK Henshall & Co Ltd. www.rkhenshall.com. RK Henshall & Co Ltd are authorised and regulated by the Financial Conduct Authority. Registration Number: 308865. www.fca.org.uk. Written quotations, policy terms, conditions and exclusions are available on request. Privacy policy, Cookie policy, Complaints Procedure Call us today on 01270 758056