Professional indemnity

If you are in the business of providing any form of advice, provide design or specifications, you will know that errors in your work can lead to a financial loss to your customer, who may seek to recover that loss from you.  

Professional indemnity insurance protects your business from not only the costs of putting right those mistakes, but the legal costs associated with defending your position. As a result, holding this cover is frequently requested in contract terms from customers or by regulatory bodies.  

Not all professional indemnity policies are the same and our experts will take the time to understand your needs and recommend an insurance cover that meets the needs of your business, client and regulator.  

Cover is on a “claims made” basis which means the policy provides cover for claims which are made and notified to insurers during the current policy period.

When advice goes wrong!

If you are alleged to have provided inadequate advice, services, design or specification resulting in your client suffering as a result, Professional Indemnity insurance will cover expenses incurred in your defence.

Do I need Professional Indemnity Insurance?

Generally, various professions have required this insurance to meet their body’s regulatory requirements.

With increased litigation, even if you are not obliged to have this insurance, without it you could be found liable for legal costs and compensation payments should your customer feel you have provided inadequate advice.

We would recommend companies to have Professional Indemnity insurance if:

• You are providing a professional service and advice to your customers e.g., consulting or contracting / specification
• Your work as a consultant or contractor requires you to have Professional Indemnity insurance to undertake a contract
• You wish to protect yourself against allegations of wrongful advice for work you have undertaken for a client.
• You provide design / specification and feasibility studies to your clients e.g architects, engineers, IT professionals and companies across a variety of sectors.
• Your industry association / regulatory body requires you have Professional Indemnity.

At Eaglemat, we have an in-depth understanding of your sector, offering a selective panel of market-leading insurers and specialist providers. Let us do the hard work for you while you relax. For quote today, just call  0333 355 2761 or fill out the form below, and we will be happy to help.