• Professional Indemnity Insurance

    Professional Indemnity Insurance

    Tailor professional indemnity insurance and compare quotes online from our panel of leading insurers

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27
January
2016

    

What Is Professional Indemnity Insurance?

Professional Indemnity Insurance (or errors and omissions cover as it is sometimes known), will protect you and your business against the cost of rectifying a mistake including any associated legal, or specialist defence counsel and associated costs where a claim is unfounded.

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Do I Need Professional Indemnity Insurance?

If you or your business provides advice, or offers any form of professional service you may need professional indemnity cover. Your expertise dictates that you owe a heightened duty of care to your clients and businesses; should an individual or firm feel that you were negligent you may find yourself on the end of a significant compensation claim and associated legal costs.

As a specialist in your field, we know that your most important objective is to deliver your services and advice with the utmost care and diligence.  However, in today litigious society your work can still be challenged creating significant defence costs and reputational damage.

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Compare PI Insurance Quotes with Expert Advice

Insync provides the best of both worlds, instant tailored online professional indemnity insurance (or PI Insurance as it is often referred), supported by expert advice from our team of UK based PI expert advisors. What’s even better is that you will be allocated a dedicated Account Executive who will handle your policy throughout the life of your policy – why repeat yourself!

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Professional Indemnity Cover

  • Specialist cover for all types of Professional trades and consultants
    Specialist cover for all types of Professional trades and consultants
  • Full civil liability cover including negligence, copyright infringement, employee dishonesty
    Full civil liability cover including negligence, copyright infringement, employee dishonesty
  • Industry Association approved wordings including ICAEW, ICAI, ICAS, RICS, RIBA & RIAS
    Industry Association approved wordings including ICAEW, ICAI, ICAS, RICS, RIBA & RIAS
  • Sole traders, Partnerships, LLP’s & Limited Companies
    Sole traders, Partnerships, LLP’s & Limited Companies
  • Indemnity levels up to £10m+
    Indemnity levels up to £10m+
  • Option to cover past work (Retroactive cover)
    Option to cover past work (Retroactive cover)
  • Office Insurance / Home office cover options for Contents, Computers etc.
    Office Insurance / Home office cover options for Contents, Computers etc.
  • Laptop, tablet, mobile phone or specialist equipment away from the office
    Laptop, tablet, mobile phone or specialist equipment away from the office
  • Option to include legal liabilities up to £25m Indemnity (Public Liability & Employers Liability)
    Option to include legal liabilities up to £25m Indemnity (Public Liability & Employers Liability)
  • Legal Expenses, Business Travel & Personal Accident options
    Legal Expenses, Business Travel & Personal Accident options
  • Optional Directors and Officers (D&O) Cover
    Optional Directors and Officers (D&O) Cover

Why Insync for Professional Indemnity

  • We compare prices and cover from our panel of leading insurers
    We compare prices and cover from our panel of leading insurers
  • Instant quotations - cover and policy documents in minutes
    Instant quotations - cover and policy documents in minutes
  • Flexible cover & monthly payments – just pay for the sections you need
    Flexible cover & monthly payments – just pay for the sections you need
  • Expert advice from professional indemnity insurance specialists
    Expert advice from professional indemnity insurance specialists
  • 24 Hour Claims Helpline
    24 Hour Claims Helpline
  • Personal – Digital servicing AND your own dedicated insurance professional
    Personal – Digital servicing AND your own dedicated insurance professional

Indemnity Claims Example

Indemnity Claims Example

You are providing advice to a client in relation to their exciting new product launch. Inadvertently one of your team attaches a copy of the product spec to another clients’ documentation which finds its way to the trade press! Your client is livid and is claiming £100,000 in compensation in addition to considerable costs and expenses relating to his launch event.

How Much Does Professional Indemnity Cost?

How Much Does Professional Indemnity Cost?

PI cover is based on your individual activities, key rating factors for insurers include:
• Your profession and type of advice provided
• Limit of Indemnity required
• Annual fee income
• Size of your contract and clients you work for

How Much Professional Indemnity Insurance Do I Need?

How Much Professional Indemnity Insurance Do I Need?

You know your business better than anyone, take some time thinking about the largest contract you undertake and the potential losses which could be incurred. Limits of indemnity can also be influenced by:
• Current contractual requirements from your clients or local authority
• Previous contractual obligations
• Regulatory body minimum requirements