Professional Indemnity

Protect your business against a wide range of claims

We all make mistakes. But in a world where a widespread blame culture is driving a surge in lawsuits, the cost of human error can cripple your business if you’re not protected by Professional Indemnity Insurance.

What is Professional Indemnity Insurance?

Professional Indemnity Insurance covers your business for compensation claims made against you by clients and other third parties.

Also known as PI Insurance, this type of policy is essential for businesses that provide advice and other professional services to clients – from architects, accountants and solicitors to consultants, surveyors and agencies involved in PR, advertising, marketing and recruitment. Professional indemnity cover is also becoming increasingly important in the digital world, providing vital protection for technology companies, app developers and other new media businesses.

How it protects you

Professional Indemnity Insurance covers the cost to defend a lawsuit brought against your business. You’re also covered for any compensation or damages awarded to the claimant if you lose the case.

Your policy protects you against a wide range of compensation claims, including:

  • professional negligence, such as errors, omissions or a breach of duty
  • a breach of contract
  • the unintentional infringement of intellectual property rights
  • defamation of character (libel or slander)
  • misrepresentation
  • a breach of confidence or the infringement of privacy rights
  • the dishonesty of your employees, partners or directors
  • the loss of documents or data

Why you should consider it

  • Some policies also cover the fees owed by a client who refuses to pay and threatens to counter-claim if you pursue payment.
  • Having PI Insurance minimises the disruption to your business if a claim is made against you.
  • Professional Indemnity Insurance is a great business enabler. As well as demonstrating professionalism to potential clients, it may be an essential requirement for regulatory or contractual compliance. Membership of an accreditation scheme will also typically require a minimum level of professional indemnity cover.
  • If you trade in foreign markets, the risks are even greater – so it’s important to have specialist protection that covers the right geographical and jurisdictional areas.
  • Keeping a professional indemnity policy running will protect you against any claims that are made after a contract has ended.

To discuss your professional indemnity insurance options, or to obtain a quote, call us now  on 0118 916 5480 or email us.

“Our PI insurance came up for renewal recently so we approached Macbeth to ask for an alternative quotation. They made sure they thoroughly understood our requirements and obtained quotes from several companies. The best of these was not only considerably cheaper than our existing broker, but was specifically tailored to the technology sector. I would encourage others looking for excellent service to speak to Macbeth regarding all aspects of insurance, we are certainly pleased that we did.”

Paul Cowie
Rock IT Group

Get in touch:   Reading: 0118 916 5480   London: 020 7036 8767   info@macbeths.co.uk