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Protect your business with Professional Indemnity insurance
Professional Indemnity insurance protects your business from potential legal and financial consequences of mistakes in your work. With this insurance in place, you can have confidence that your duties are backed by a solid risk management plan. Here’s how…
What is Professional Indemnity insurance?
Professional indemnity insurance protects businesses and individuals providing professional services against claims for losses or damages resulting from their work. It covers legal costs, compensation payouts, and other expenses related to negligence, errors, or omissions in professional advice or services.
Why do I need Professional Indemnity insurance?
Whether it’s a misjudgement, oversight, or just an unexpected turn of events, if a company offering professional services makes a mistake or runs into an unforeseen problem, they could face a lawsuit from an unhappy client.
If a client believes your actions cost them money, Professional Indemnity insurance can be essential for addressing and mitigating such claims. Ultimately, Professional Indemnity insurance highlights the importance of delivering quality services and protecting your reputation through proactive risk management.
What does Professional Indemnity insurance cover?
Professional Indemnity insurance doesn’t just cover legal defence expenses – it also pays for damages in the case of a liability claim. Typically, Professional Indemnity insurance includes:
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Legal defence
Provides coverage for legal fees and defence costs, ensuring you can effectively navigate legal challenges
.png?width=75&height=75&name=webpages%20(78).png "Document with a warning triangle, symbolizing protection against unintentional mistakes or omissions in professional services.")
Errors and omissions
Covers unintentional mistakes or omissions in your professional services
.png?width=75&height=75&name=webpages%20(77).png "Two stylized figures with speech bubbles and question marks, indicating management of legal implications from contract disagreements.")
Contractual disputes
Offers a safety net to manage the potential legal implications of contractual disagreements
.png?width=75&height=75&name=webpages%20(57).png "Shield with a pound symbol (£) inside, representing financial protection for client losses due to professional advice or services.")
Client compensation
Offers financial protection in cases where clients suffer financial losses due to your professional advice or services
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Data breach liability
Shields you from the financial impact of data breaches
Picture This...
You’re a trailblazer in artificial intelligence that’s working on a cutting-edge machine learning tool designed to enhance diagnostic capabilities. The stakes are high as you partner with a leading healthcare client – but when unexpected system errors lead to misdiagnoses that impact patients and healthcare professionals alike, things start to get tricky.
You reach out to your insurer, who equips you to tackle these issues head-on – compensating those affected, and freeing you up to get to the bottom of the issue and continue to meet the highest standards of accuracy and reliability.
.png?width=400&height=400&name=LinkedIn%20(24).png "A person lies inside an MRI scanner in a medical imaging room, visible through a large observation window. In the foreground, a technician sits at a desk operating the MRI system using two computer monitors, one showing a scan interface and the other displaying an image of the scanner.")
Contact us
Take your next step.
If you’re interested in how we can help or just want to introduce yourself, get in touch. We’re always happy to talk. Alternatively you can book a meeting with one of the team using the Capsule Calendar.