professional indemnity

Much has been written about Professional Indemnity, so we won’t bore you all over again. Suffice to say that IT ISN’T ONLY Professionals that can be negligent. A close look at your book of commercial clients will, we are sure, lead you to the conclusion that many of them are giving advice, designing or undertaking a role where they are holding themselves up as experts in their field.

There doesn’t even have to be a fee involved. How many times has a client told you that, along with the sale of their product or undertaking physical labour, they have needed to act in a `Professional’ capacity? If they get it wrong, this is likely to cost their client money and time is money, when loss of use occurs, someone can’t trade or an event is unable to take place. They are almost always held responsible for the customer’s financial loss, because these days we, as a nation, are so much more likely to want to punish the wrongdoer.

An increasing number of claims are being made against corporate entities and freelance professionals, by dissatisfied customers seeking financial compensation, as a result of neglect, error or omission – mistakes that are all too easy to make, particularly when individuals are juggling a number of projects, at one time. Claims are also getting larger, posing a significant threat to the livelihood and future of the companies and individuals involved.

Most Professional Indemnity policies, these days, will incorporate extensions, some of which are not strictly as a result of a negligence. 

Our Professional indemnity product provides indemnity for claims up to £5,000,000, and can include cover against:  

  • Defamation, Libel and Slander 
  • Loss of Documents (including Electronic Data) 
  • Breach of Duty of Professional Care 
  • Infringement of Intellectual Property Rights 
  • Dishonesty of Employees 
  • Unintentional Breach of Confidentiality 
  • Plagiarism, Broadcasting Rights etc. 
  • Mitigation of Loss 
  • Arbitration and Adjudication Schemes 
  • Breach of a multitude of Regulations 
  • Joint Ventures 
  • Court/Tribunal Appearance cost