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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

How whiplash reforms will affect insurance claims 

The whiplash reforms have been introduced by the Government to change the way that low value personal injury claims following road traffic accidents are managed. These changes will only affect road traffic accident claims that occur in England and Wales.

The reforms were broadly outlined in the Civil Liability Act 2018, which were initially proposed by the Government in November 2015. The aim is to tackle the increasing number and escalating costs of road traffic accidents (RTAs) and whiplash-related claims, as well as ensuring that compensation awarded is proportionate to the level of injury suffered. read more

Source: QBEeurope.com email 26/05/2021 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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