When your business is such that it offers designs, professional advice or services, you are never in the know when a professional mistake can arise. This can happen due to a genuine mistake that occurred while you were doing your job or it could be as a result of an act of negligence on your part. Professional indemnity insurance is meant to offer professionals and their businesses indemnity against such types of mishaps that happen in the course of their jobs. This is because when a client sues the professional for the mistakes committed at work, the professional might end up incurring a lot of financial losses hence the need for an appropriate cover.
Essentially, every professional or business that deals with offering professional services or advice is suited to have this cover. Remember, the term professional is no longer restricted to mean the main stream and traditional professions like lawyers and doctors alone. It also include persons dealing with business consultancy, media personalities, designers etc and all these face a substantial risk of getting sued should something go wrong in the course of their duties. The following are therefore some of the professions that need to have PI insurance. Kindly note that this list is not inclusive in any way
Professional indemnity primarily offers financial protection that a professional or their business would incur should they face a legal suit resulting from mistakes or damages they caused to the complainant while doing their jobs. These financial losses could be in terms of damages or refunds that the courts may award to the claimants. Explicitly, professional indemnity insurance offers financial protection against the following
Damages in monetary terms awarded to the claimants as a result of your actions
Legal costs of settling the claims. These could be sky high if you are compelled by courts to cover all the costs should you lose the suit
Loss of income during the times you are compelled to attend the court sessions in person.
It will help in restoring the image of your profession or business.
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There are a number of insurance brokers with whom you could obtain a PI insurance cover from but the decision to work with us is such a noble one. Our experience in the fields makes us second to none and we have just the right solutions for each and every type of business or profession. Besides, we understand the fact that all the businesses are unique hence they need tailored solutions to meet their specific needs. This is exactly what we do. We offer the right tailored professional indemnity insurance packages to businesses and professionals.
Ever since I started dealing with Leyland Charles Insurance Brokers, It has always been a smooth sailing all the way. I love the professionalism and the great products they have
Julie Cary, Leicester.
I have always wanted to deal with a broker that I could trust with all my insurance needs. Am glad I found a one stop shop at Leyland Charles Insurance Brokers.
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If you want professionals to take care of all your insurance needs, I can confidently vouch for Leyland Charles insurance brokers. They are the best in my opinion.
Susan Greens, Manchester
This is the best insurance brokerage company I have ever dealt with. They are very professional and they have all the business insurance products I ever wanted.
Millicent Wards, London