Professional Indemnity Insurance

Professional indemnity insurance shields you and your business from allegations of carelessness or moral failure resulting from actions, mistakes, or omissions made while providing professional services.

Professional Indemnity Insurance empowers you to pursue legal routes to clear your name and defend your esteem– with the backing of a legal and insurance team.

Professional indemnity insurance is required by many trade associations as part of their regulatory frameworks. Even though having PI insurance is not required, failing to do so could result in thousands of pounds in lost income due to the time spent defending against any allegations, as well as thousands of pounds in legal expenses and compensation payments.

Professional Indemnity claims can arise from simple things like :

What’s typically included?*

The professional indemnity policy you choose may or may not protect you from damages resulting from unintentional or deliberate professional misconduct, including but not limited to the following:

1. Providing your client with misleading or negligent advice
2. Breaching your professional duty
3. Confidentiality and other privacy breaches
4. Defamation, libel or slander
5. Loss of or damage to documents
6. Infringement of intellectual property
7. Payment of compensation as a result of a claim, including but not limited to Court awarded damages
8. An award of legal costs claimed against you
9. Reasonable legal costs expended in defending or answering the claim Claim investigation costs
10. Disciplinary proceeding costs
11. Depending on the type of Professional Indemnity insurance policy you have, it may extend to provide cover for public relation costs to help protect your business’ reputation

Your professional indemnity insurance coverage for allied health professionals also covers claims for disease or bodily injury resulting from the professional services covered by the policy.

What is typically not covered?*

1. Intentional damage or misconduct
2. Contractual liabilities
3. Professional fees refunds
4. Recognized circumstances and claims that might have occurred before the insurance term
5. Acts of fraud and dishonesty
6. Property damage and accidental injuries (public liability insurance would normally cover these types of claims)

How Much Cover Should I have ?

You can select policies with different levels of coverage from our website’s leading insurers by using Gravitas Insurance Brokers.

When estimating the potential amount of coverage, take into consideration:

1. What are the possible risks (what could go wrong), and what might the cost of a claim be in the event that something goes wrong?
2. The importance of the projects you complete or the worth of your contributions
3. Any legal requirements specific to your line of work
4. Any obligations imposed by organizations or professional bodies that you are a member of. Recall that you should review your risk exposure as your company expands and raise your coverage as necessary.