If you are in the business of selling your knowledge or providing a service for fees or commission, you may wish to consider taking out Professional Indemnity Insurance.
Professional Indemnity Insurance, also known as ’Errors & Omissions’ protects you and/or your business against claims against financial loss or damage sustained by a third party as a direct result of your negligence, error or omission. Professional Indemnity insurance will also provide you with additional cover for legal costs.
In the ever-increasing litigious world that we now live in, individuals and companies that provide advice and/or services for a fee are becoming more and more reluctant to continue trading without the protection that Professional Indemnity insurance cover offers. They no longer want the uncertainty of being exposed to financial losses to third parties caused by their negligence, which in extreme cases might bankrupt their business.
If you would like to discuss this further, please get in touch with a member of our team via our online contact us form. Or if you prefer, you can visit us in branch.