Professional Indemnity Insurance

How many times are we asked, what is professional indemnity insurance and why might I need it? Just with all other insurance, professional indemnity is about managing risk, and in today's litigious world the risks you take on can be extraordinarily high. 

Professional indemnity insurance (PII) is designed for any individual, company or organisation providing advice, design work or other professional service. It covers you and your business in the event of damages being awarded against you due to: professional error, omission or act of negligence towards a third party to whom you owe a duty of care. 

Make sure you don’t get caught out. There are many factors to take into account when considering a PII policy, these include:

• Type and size of business or organisation (note that charities and advisory bodies may also need professional indemnity insurance)
• The maximum damages that could be awarded against you; known as the limit of indemnity
• Whether the limit of indemnity will cover any court costs or if they are to be included in your PII policy

If you are in any doubt speak to our commercial team and let us guide and advise you. It’s better safe than sorry and the advice is free and just a phone call away.