Litigation against professionals (lawyers, doctors, accountants, architects, engineers and many others) has been on the rise, brought about by clients who believe either rightly or wrongly that the professional work they received was not up to standard. The duration and cost of such a claim can be very taxing on a business, and professional indemnity cover can help you mitigate the legal fees and monetary compensation, if any.
Who needs professional indemnity cover? If you are engaged in any of the following, you should seriously consider getting a professional indemnity insurance cover:
- providing a professional service (eg. architects, engineers, lawyers, doctors, etc)
- providing professional advice
The provision of your service and advice is your livelihood and something worth protecting. The possibility of customers making such claims is a real risk, and one with the potential to bankrupt businesses, for claims from professional negligence can sometimes run into the millions.
Our advisers will be able to guide you through the process and advise appropriate cover for your business needs.