Cover tailored to your business.
If you provide skills, knowledge or advice for payment, you should consider investing in a professional indemnity policy. Many professions will require you to have this cover in place in order to join their respective bodies, additionally clients may demand that freelancers & contractors have PI to cover the value of your work.
Some common professions that PI insurance should be considered for include:
- Chartered surveyors
- Healthcare professionals
- Financial advisers
- Graphic designers
|An architect was hired to draw plans for a new housing development, it was discovered during construction that the plans featured some major miscalculations resulting in the construction company claiming against the architect for professional negligence.|
|Professional indemnity insurance would cover the cost of defending the claim of professional negligence as well as the cost of correcting the incorrect plans.|
|An employee leaves a laptop containing a clients sensitive data on a train accidently. As a result of losing the data the client takes out a claim against the company for a breach of confidentiality.|
|With a comprehensive PI policy from Third Sector Protect you’ll be covered against the expensive cost of the claim and the cost associated with recovering the lost data.|
|A bookkeeper was commissioned by a client to advise on the purchasing of a plot of land. The bookkeeper advised the client incorrectly regarding the VAT liability on the land ultimately costing the client thousands of pounds. The client subsequently put out a claim against the bookkeeper for the error.|
|Fortunately the bookkeeper was covered for their professional error by a professional indemnity policy meaning the costs associated with defending the claim and any compensation to the client would be covered.|