Nobody wants to make a mistake in their work. Worse still – nobody wants a client or someone else to be out of pocket because of it. That’s where professional indemnity insurance comes in. You’ll need it if you provide a professional service or give advice.
Professional indemnity insurance, also known as PI insurance or indemnity insurance, can help protect you if claims are brought against you by a client due to a problem with the work you have done for them.
It protects you if one of those paying clients (or a third party) alleges you’ve made a mistake, and it’s cost them money. If they decide to sue you for their loss, your policy pays for a specialist solicitor to defend you and, if it turns out you are culpable, picks up the tab for compensation or damages you have to pay your client.
You should consider taking out professional indemnity insurance if your business gives advice or offers a professional service to other businesses or individuals. It covers you if you are negligent or make a mistake which causes a client’s business to suffer financial loss.
For affordable professional indemnity insurance in and around Hampshire and country wide call Glowsure today