No matter how experienced or diligent a professional may be, errors, omissions, or misunderstandings can still occur. When clients suffer financial loss as a result, they may pursue legal action, which can be costly and time-consuming to defend.
Professional Indemnity Insurance provides a critical safety net, covering legal expenses and potential compensation claims arising from professional mistakes or negligence. By protecting both your finances and reputation, this insurance ensures that your business can continue operating with confidence, even in the face of unexpected challenges.
What is Professional Indemnity Insurance?
Professional Indemnity Insurance protects your business from the legal costs and claims for liabilities associated with allegations of negligence, professional misconduct, breach of duty or incorrect advice that you provide to a third party.
If you are a professional, across any industry, that gives advice or provides a service for work you run the risk of being sued. Having indemnity cover for your business will help to safeguard your finances and reputation, giving you peace of mind in the unfortunate event a claim is made against you or one of your employees.
A typical Professional Indemnity policy provides cover for:
- Legal costs incurred in the defence and investigation of a Professional Indemnity claim
- Any compensation required to be paid by the Insured in order to dispose of a Professional Indemnity claim
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How Coverforce can help
At Coverforce, our expert team of insurance brokers will take the time to assess your individual requirements and exposures and deliver a comprehensive insurance solution that is tailored to your specific needs and budget.
For more information or to speak to one of our brokers about arranging cover, please contact us.
Alternatively, you can simply fill out a Professional Indemnity Insurance Quote form below and one of our insurance brokers will get in touch with you within one business day.
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