Professional indemnity insurance is a type of insurance that provides cover for financial losses which have incurred due to advice provided by you to your clients.
Who needs professional indemnity insurance?
Any business who: gives advice to clients, offers a professional service or handles client data / intellectual property.
What does professional indemnity insurance cover?
How much cover do I need?
Ultimately the level of cover required depends entirely upon your occupation and client base. We are able to obtain terms on risks ranging from ‘one-man band’ consultants right through to FCA / GFSC regulated companies.
Businesses need to consider the potential cost of legal fees and compensation that could be due should you have a claim. It may also be worth considering if any of your clients i.e. local authorities etc, require a minimum level of cover.
Clegg Gifford are able to look at increasing limits of indemnity mid-term should it be required.
How much does professional indemnity cost?
Insurers determine premium based upon numerous factors, mainly:
What other types of insurance can Clegg Gifford help me with?
Commercial packages: We are able to dovetail all product coverages, combining your various, unique requirements into one succinct renewal date.
Motor: As proclaimed motor experts we are able to obtain terms on a whole manner of risks, ranging from single vehicle private cars, all the way through to large commercial fleets. Our flexible approach means we are best placed to help you and your business, no matter the insurance product.