Do you offer a professional service?
Most businesses that provide services are very likely to need Professional Indemnity Insurance
Do you handle a client’s data or copyrighted materials?
No matter how careful you are there’s always the risk of losing or releasing confidential information
Do you provide advice to clients?
No one wants to think about it, but if the advice you give leads to a bad outcome, some clients might sue
Is there a chance you may damage a client’s property?
Property can mean intellectual as well as bricks and mortar. Whether you’re woking on a home or a website, things can happen
Step 1: Work out the value
What’s the total value of the information or property you’ll be handling? Whether you’re a consultant advising on multi-million pound deals, or a small business carry out some building improvements, you should be insured for enough to cover any losses you might cause.
Step 2: Look at contracts
The devil is in the details. Most businesses require a certain level of Professional Indemnity Insurance for anyone they work with, which will probably be included your contract. No matter what, it’s always worth checking.
Step 3: Check others
To begin with it's sensible to see what other businesses in your industry are doing, so you have a better idea of what the usual standards are. Although, of course, no two companies are the same,
We’re here to help
We would be delighted to help you or your business with your insurance needs. Whether you need a specific product, or a full review of your current set up, just get in touch and we will come back to you quickly.