Professional Indemnity Insurance – Get Covered or Lose Out
Professional Indemnity insurance covers small businesses and individual professionals who provide specialist guidance to other businesses. Professionals in the business of selling their expertise may wish to be protected in the event of a negligence claim: the result of services they have provided as an intermediary.
Risky Business
Professional Indemnity insurance will cover the costs of any compensation wanted by a client as a result of negligence; this should also cover any legal costs accrued.
Many professionals take out Professional Indemnity cover and other associated traders are also obliged to take out such cover (Eg: accountants, lawyers, financial advisers, etc).
Knowledge-based professionals are particularly at risk: Engineers, IT Consultants, Contractors, etc are increasingly expected to take out professional indemnity insurance; some clients will even insist that cover is already prepared before taking on their would-be services.
So, what does Professional Indemnity Insurance cover?
- Acts of negligence
- Dishonesty
- Infringement (unintentional or otherwise) of IP
- Loss of any data, documents or important information assigned to you for safe keeping
- Breaches of confidence (unintentional or otherwise)
- Slander or libellous actions (unintentional or otherwise)
Get Covered
Its not all bad news as help is at hand. Noyce Insurance can handle all your insurance needs at an affordable price. We provide a wide range of insurance products for you and your business, to ensure that your business is protected so you can focus on your main business activities.
For more information on Professional Indemnity cover and all other insurance needs, please contact the Noyce team on: 023 806 2190.