As a contractor there is always a risk that despite your very best efforts, your work could be challenged or your opinion questioned. And, let’s face facts, when it comes to playing the blame game, some people are not above downright skulduggery.
Defending any claim can be time consuming, expensive and very stressful, potentially damaging to your reputation and your business.
Professional Indemnity Insurance is vital for any contractor or representative that gives advice or provides a service for other businesses, it can be provided as a stand-alone policy or be included with professional indemnity and public liability if appropriate.
Note! Appropriate is a word we use a lot here at H2i, we make sure that all of our clients have appropriate cover for their precise needs, too little and you’re at risk, too much and you are paying for something you really do not need.
Certain professions may require a certain level of Professional Indemnity Insurance to comply with their regulatory body and these include architects, lawyers, surveyors, accountants, financial advisors and, you will be pleased to read…Insurance Brokers.
For other professions, whilst it might not be mandatory an appropriate level of cover is strongly advised, particularly as the complexity of many claims can make defence an expensive matter but the right cover will protect against legal costs and compensation up to a specified policy limit.
We love to advise professionals about the level of cover their business requires, if you would like to know more just call or email and we will be delighted to help.