About the Professional Indemnity Insurance

While all professionals seek to provide a high standard of service, human error and bad luck can always conspire to send plans awry. Customers may seek legal recompense, and this Professional Indemnity Insurance protects you against these costs.

The insurance will generally cover you against claims arising from alleged failure to perform as contracted, financial loss caused by your services or advice, breach of confidentiality, negligence or error or omissions you may have made.

Professional Indemnity Insurance is essential in many professions including architecture, business consultantcy, engineering, insurance brokerage, accountancy and many more. In general, anyone providing a professional service, consultancy or advice should ensure they are covered.

It is important to note that public liability insurance alone provides cover only in the case of injury or material loss and should not be considered sufficient cover alone.

Directors & Officers Liability Insurance

Often known simply as D&O, this product provides cover for the directors or officers of a company in the event of legal action being taken against them for any alleged "wrongful act".

This will typically be action taken by a party aggrieved by a decision, and can include shareholders as well as customers.

Trustee Indemnity Insurance

Similar to D&O, Trustee Indemnity Insurance protects trustees of charities and other organisations in the event of legal action against them due to any alleged wrongful act that could damage the charity or trust.

Since the 1992 Charities Act, individuals who are trustees of charities are far more accountable than before, and legally in a position similar to a company director. Liability insurance is therefore an essential protection.

The cover will usually include defence costs, professional advice, insured versus insured and libel & slander actions.