Professional Indemnity Insurance

Also known as Professional Liability or PII, Professional Indemnity Insurance is intended to protect professionals and their businesses in the event of a claim being made by a client or third party suggesting that they have suffered a loss as a result of non-performance, breach of contract and/or professional negligence in the services provided.

Depending on where your work is undertaken, the cover can be arranged to for just the UK or can extend to include the EU or worldwide, whichever is best suited to your requirements.

Similarly to Public Liability, most contracts will require you to have this cover in place, no matter the size of your business, to ensure that should a claim arise due to the services provided by you/the company compensation can be paid.

We would recommend Professional Indemnity insurance to anybody providing a service in which you are liable to cause either a client or third party to suffer a financial loss. This can range from things such as advising clients a piece of work will be complete by a certain date and not achieving this or not obtaining the relevant licenses for film or media work.

A Limit of Indemnity is the maximum amount in which your insurer will pay should a claim arise. This can be arranged on an Any One Claim basis which means the limit would apply to each and every claim you have during the insured period.

Alternatively, this can be arranged on an ‘In the Aggregate’ basis which would mean the maximum limit would apply for the full year, meaning each claim during the year would need to total less than your maximum limit in order to be covered.

The limits available range from £100,000 up to the millions, all you need to do is give us a call and we’ll be happy to talk this through with you.