Professional indemnity insurance

Professional indemnity insurance keeps you covered in case a claim is brought against you because of some form of professional negligence. There are different kinds of professional breaches that can be made to be seen as being professionally negligent.

For example, professional indemnity insurance can cover you if you are seen to have taken part in a negligent act, a negligent error, or a negligent omission. This is vital if you believe that you may be entering into something that could lead to a claim being made. If you run your own business, then professional indemnity is the kind of insurance that you need to look into.

Many insurers will cover you for up to £2million, although this does greatly depend on the specific insurer and can change from policy to policy within a particular insurer’s range. Many offer certain free add-ons, for example free cover for any subcontractors that you might employ. This thereby extends to the insurance to them and to any kind of negligent act, error or omission that may lead to a claim.

One thing to look out for with regards to professional indemnity insurance policies is any exceptions. The insurer may promise very few exceptions, but even a few exceptions can suddenly make the policy quite limited. If you believe that a claim made against you could in a strong likelihood fall into the exceptions category, then obviously continue to look for a different kind of insurance policy.