Are you hired on the basis that you can give sound advice?
If so, you could be held liable if your client suffers as a result of your alleged professional negligence, error or omission.
Professional indemnity insurance, or PI insurance is a constituent of liability insurance, but unlike public and employer's liability that's designed to benefit the client; PI insurance is mapped to benefit the professional.
It's essential cover for any service providers who want to safeguard their business against the cost of a potentially expensive legal battle.
Many who sell professional advice or services such as accountants, architects, consulting engineers and surveyors may legally require PI insurance as part of their regulatory requirements.
Even if you believe that the advice you have given to be sound, in the event that allegations of professional negligence are upheld; resulting in a financial loss to your client, any due compensation, including legal fees will be payable.
That's why many professionals opt for a PI policy as any due compensation and fees, up to the value of your indemnity limit, will be covered.
At constructaquote.com, we can offer flexible indemnity limits from £50,000 to £5 million depending on your businesses requirements.
Like you, we believe that businesses need to operate under integrity.
Need a quote? Get in touch via our website constructaquote.com or give us a call.
Smart professionals trust constructaquote.com for all their insurance needs