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Professional Indemnity Insurance

Professional Indemnity Insurance - Click for a QuoteIf you are in the business of selling your knowledge or skills you should take out Professional Indemnity Insurance from Henderson Insurance.

Professional Indemnity Insurance Cover from Henderson Insurance Professional Indemnity Insurance cover is a regulatory requirement for many professions or compulsory as part of their professional authorisation. These include:

  • Solicitors
  • Accountants
  • Architects
  • Mortgage Intermediaries
  • Insurance Brokers
  • Financial Advisers.

Many consultants, I.T. firms, web designers, advertising and PR agencies, and designers also choose to have this type of insurance.

Professional Indemnity Insurance offers financial protection for your business to pay compensation in the event of a claim against the business for loss or damage made by a client or third party if you make mistakes, errors or omissions, give poor advice or are found to have been negligent in some or all of the services you provided.

Professional Indemnity Insurance also covers legal costs and expenses in defending a claim.

Professional Indemnity Insurance Cover available from Henderson Insurance An important aspect to bear in mind when considering Professional Indemnity Insurance is that cover is usually on a claims-made basis. This means that the policy will only cover claims that are made while the policy is 'live'.

So, if you plan to cancel your policy when you close your business or retire, you may need to arrange 'run-off' cover for a period of time afterwards.

Also, if you plan to change insurers, you will either need to arrange run-off cover or get agreement from your new insurer to accept new claims for previous incidents, known as a retroactive date.

One way to minimise such claims is to make sure projects are well documented. Ensure that you set out specific responsibilities in your contracts with clients beforehand and deal with complaints promptly.

Professional Indemnity Insurance - Click for a Quote As this is a specialist area of insurance taking advice from a suitably experienced insurance broker like Henderson Insurance is paramount. Click for your Professional Indemnity quote or contact us today on 0191 5235001 for further information.

Latest News

Keeping motorists mobile - motor insurers payouts up 14% over the last year

Motor insurers paid out £2.4 billion in motor claims in the first quarter of this year, up 14% on the same quarter last year according to our latest data. This was the highest quarterly payout since we started collecting data back in 2013.   

Read More

Source: abi.org.uk 09/06/2023. 

Changes to the Highway Code – what’s changing and what does this mean?

Over 40 changes to the Highway Code, including updates to existing rules as well as the addition of new text, came into effect from 29 January*. Whilst these changes are relevant to all road users, it’s important that our commercial motor clients are aware of these changes and communicate them effectively to their drivers.

What are the key changes?

The most fundamental change of principle is the inclusion of a Hierarchy of Road Users designed to place road users in order of potential harm. The aim is to improve safety for vulnerable road users (VRUs), in particular pedestrians, cyclists, and horse riders.

The updated text states that "those in charge of vehicles that can cause the greatest harm in the event of a collision bear the greatest responsibility to take care and reduce the danger they pose to others. This principle applies most strongly to drivers of large goods and passenger vehicles, followed by vans/minibuses, cars/taxis and motorcycles.” read more

Source: Aviva Febuary - 1st Edition latest news email 04/02/2022 with link

Mandatory five-year electrical safety check regulations to be enforced in England

The Government has proposed detailed regulations for enforcing mandatory five-year electrical safety checks in the private rented sector from July this year. 

The Electrical Safety Standards in the Private Rented Sector (England) Regulations 2020 were laid in Parliament yesterday. They require approval from both the House of Commons and the House of Lords before they come into force. read more

Source: NLA website - Article Posted 14 Jan 2020



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