Professional Indemnity (PI) Insurance covers you against claims from your clients if some advice or a service you’ve provided causes them to lose money. PI Insurance usually covers the legal costs required to defend you – providing you with legal representation (Even if you’re innocent, or if it turns out that you’re not – it can help cover your compensation payouts).
Although it’s not mandatory for all types of business, many industry bodies’ regulatory requirements state that many business sectors require PI insurance, including accountancy, engineering, and surveying. Professionals working on a contract basis – such as management consultants, business consultants, and IT contractors – usually potential clients and contractors will ask if you have PI insurance when they award contracts.
No matter how many years experience your firm may have, there is always the possibility that you (or a member of your team) could make a mistake. So be protected for the unexpected.
Get in touch with our friendly team today to find out more about our professional indemnity cover. Call us on 01782 512592 or fill in our online quote form. Alternatively, if you prefer, you can visit us in branch at 1 Wharf Road, Biddulph, Stoke-on-Trent, Staffordshire, ST8 6AJ.