Professional Indemnity Insurance
If you are alleged to have caused financial loss to a client, professional indemnity insurance provides cover for the legal costs and expenses in defending the claim, as well as compensation payable should the claim be valid.
Types of claims normally covered by professional indemnity insurance typically include:
- Negligence – making a mistake or giving bad advice
- Infringement of intellectual property rights – often the result of a misunderstanding
- Defamation – damaging the reputation of a person or organisation
- Breach of confidence – sharing confidential information without consent
- Loss - of documents, data, goods or money for which you are responsible
Regardless of how diligent you are, there is always the possibility you (or one of your team) could make a mistake. Claims can arise from a simple misjudgment or misunderstanding should the client feel they have suffered financial loss.
Professional Indemnity Insurance is written on a 'claims made' basis, which means that it is the insurer of the policy in place when a claim is received that will respond rather than the insurer in place when the negligent act occurred.
Professional indemnity insurance should always be written around the needs of the specific business. To negotiate the right policy for you your insurance broker should have specialist knowledge and experience of your sector. We have been arranging professional indemnity insurance for over 30 years and currently act directly for hundreds of companies throughout the UK.
Client Director in charge of the PI team
Five great reasons to choose us...
Strong insurer relationships
Act for hundreds of surveying firms across UK
Surveyor industry specialists
Friendly professional service
30 years experience