Professional Indemnity Insurance

Competitive Cover From Your Local Independent Insurance Brokers

Need competitive professional indemnity insurance?  Let Trisure Insurance Services compare our markets to find you affordable, high-quality cover.  Our friendly team of independent specialists can do the shopping around for you and find you the right cover at the right price.   Get your free, no-obligation professional indemnity insurance quote or call (01733) 777799.

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What Is Professional Indemnity Insurance?

Professional indemnity insurance – PI insurance as it’s also known – offers financial protection should you or your business be sued for making a mistake in a piece of work or doing something that causes financial or reputational loss.  For many businesses, this is an important cover.  Thanks to our close relationships with a range of leading insurers – household names including Aviva, RSA, and Axa – we can offer you affordable, flexible, high-quality PI insurance protection.  

If you’d like to know more or want a Professional Indemnity insurance quote, please call us on (01733) 777799.   Our friendly, experienced team will be happy to give you all the help you need.

Who Need Professional Indemnity Insurance?

If your business gives advice, then it would be wise to have a PI policy in place.  According to the Association of British Insurers there’s been a surge in the number of small and medium-sized (SMEs) businesses taking PI insurance out as legal action has become more frequent.  Businesses that typically take out a policy include:

  • Financial advisors
  • Builders
  • Solicitors
  • Architects
  • Private tutors
  • Recruitment consultants
  • Marketing agencies
  • IT service providers

What these companies have in common is that as part of their offering, they give professional advice that can lead to legal problems, hence the need for professional indemnity insurance cover.

What Does Professional Indemnity Insurance Cover?

PI insurance can protect you against a range of potentially costly risks such as:

  • Breach of duty is when you or your company fails to live up to the duty you promised the client, such as delivering below-par advice or not providing a service that you’d agreed to.  In some cases, if a claim is brought against you, you could be left personally liable for the costs and damages.  Professional indemnity insurance protects you against these costs, providing great peace of mind for a modest premium

  • Loss of documents or data – losing documents and data or sharing data or sensitive information without prior consent.  Whether you’re a solicitor, lawyer, or data controller – such as a marketing consultant – you could be held liable for losing documents or data and face hefty penalties.  In a digital world where threats from cyber-attacks are rising, this is something that’s well worth protecting your business against

  • Negligence – every professional has a duty of care to their client.  This means they must act and deliver their services to a high standard, taking reasonable care.  The Supply of Goods Act 1982 states that there doesn’t need to be a breach of a specific contractual agreement for you to be held liable.  As an independent body – such as a financial advisor – this would fall on you personally and could leave you with high legal costs and compensation claims to pay
  • Civil liability – this looks at the effects of advice or instructions rather than assigning fault with the initial advice.  You’ll need civil liability cover if your advice leads to injury or illness as opposed to financial loss.  If you complete consultancy work, then this will be more relevant to you than, say, a financial advisor or a solicitor
  • Contractual liability – if you sign a contract with another company and assume liability on its behalf of them, contractual liability could be useful for you.  This protects you if you’re held liable for failing to uphold the terms of the contract.  This affects both service-based and advice-based businesses, and it could be key to protecting you

  • Defamation – if you make false or defamatory statements about a person or organisation, you could be held liable for damages.  While it’s particularly useful for those in journalism, given it covers statements via a public platform such as social media, PR, and online marketing, it can be applied to many businesses

Professional Indemnity Insurance FAQ

PI insurance can be complicated, so to help you get the protection you need, here are a selection of frequently asked questions about professional indemnity cover:

If your business offers advice or enters into contracts with clients or other companies, then PI is probably something you should consider.
How much you pay will depend on things like:
  • The size of your business
  • How many risks you wish to be insured against
  • What it does and the clients it has
  • The level of risk you face. If you are advising large clients who are paying you substantial sums, then you will need higher levels of cover which will cost more
All sorts of professions and organisations can be covered. While the most common ones are things like solicitors, financial advisors, and accountants, everyone from private tutors to fitness trainers can benefit from having a policy. At Trisure Insurance Services, we can find policies for most types of businesses and organisations. We’re extremely flexible, so if you’d like to discuss your specific needs, please call (01733) 777799 or contact us today.
The amount of PI cover your business needs will depend on the type of work you do and the type of clients you serve. If you work with large organisations in heavily regulated industries, such as solicitors or accountants, your professional indemnity requirements are likely to be higher. An excellent way to gauge how much cover you need is to talk to your clients and ask how much they would expect you to have in place. Some may have a minimum threshold specified by a governing body they belong to. The best way to find out how much professional indemnity insurance you need is to talk to an independent insurance broker such as Trisure Insurance Services. We can do a free risk assessment on your business before comparing our markets to find you the cover you need. To start your free professional indemnity insurance assessment or to get a no-obligation professional indemnity insurance quote, please call (01733) 777799 or contact us today.
Definitely. This is a policy with lots of moving parts, and to get the full benefit, you’re best to speak to an independent insurance broker who can ensure you have the cover you need. At Trisure Insurance, our team has many years of experience in finding clients the cover they need, and thanks to our close connections to a range of insurers, we can do the shopping around for you. If you’d like to discuss your requirements, please call (01733) 777799 or contact us today.

Get A Professional Indemnity Insurance Quote

f you’d like a competitive, flexible, professional indemnity insurance quote, call Trisure Insurance Services on (01733) 777799 or click here to start your quote. Our team of specialists will search our markets to find you the right policy at the right price to keep your business protected.  

Get A Quote
Get A Quote