As a professional person, it is a wise decision to protect yourself against possible claims that could be made against you from clients you may have had in the past or even from present clients.  Being a professional person, you are legally held to provide a higher degree of skill than other service providers as you are considered to be an expert within your chosen field.  If you unknowingly suffer a loss that is attributed to an expert’s failure to uphold particular standards, you risk possibly being sued.  The loss you could experience ranges from material, physical or financial.

In recent years, the term ‘professional’ has grown to include a wide range of industries and as a result of this; Professional Indemnity Insurance is now being taken by increasingly more workers.  If you are a service provider offering assistance or services to clients, you are regarded as an expert on the subject or in your particular field and as a result, are open to being sued should your performance be viewed as being in breach of the professional service you are required and in fact, expected to provide.

Years ago, professionals using indemnity insurance were accountants, medical workers, lawyers and engineers however this has certainly changed as now architects, real estate agents, education workers as well as general consultants are requesting cover.  The policies and conditions of the Professional Indemnity Insurance obviously vary depending on a particular industry.

How does Professional Indemnity Insurance Work?

Professional Indemnity (PI) Insurance is the insurance for working professionals to protect you from the possibility of being sued.  This insurance covers professionals from a variety of industries and includes protection against possible exorbitant legal costs as well as damages that may be payable as a result of a claim.

Generally, PI Insurance indemnifies the insured professional for claims made while the policy is still active due to a breach of duty according to the insured professional’s particular line of professional business.

This type of insurance ensures that it provides cover for claims made during the period of time that the insurance was active, obviously subject to certain terms and conditions. That dates and duration of the policy’s activity will be detailed in the policy schedule.  The policies will also have a ‘limit of indemnity’ as well as a ‘deductible’ or ‘excess’. The limit of indemnity details the maximum amount of cover that the insurance provider will provide for any one particular claim.  The ‘deductible’ is the amount of each claim up to a specified amount that must be paid by the insurance provider.

Professional Indemnity Insurance Quotes

We understand that different professionals within different industries will require different insurance and cover.  We therefore offer a range of insurance cover that is best suited to your particular needs and is easily accessible via our website which allows you to search for cover according to your profession.

You will receive multiple quotes within a couple of minutes, there are no lengthy forms that need to be filled out and you will receive policy documents instantly. It is a quick, easy and simple way to getting the cover your need!