Looking for a new Professional Indemnity (PI) insurance policy? Need help with your existing Professional Indemnity cover? If the answer to either is yes, then here at Black and White we can help you out.
In its simplest form, Professional Indemnity (or PI) insurance is a specialised form of cover which offers protection in the unfortunate event that a paying client or customer brings a claim against you due to recommendations or services that you have provided, which causes them a financial loss.
Depending upon the industry in which you work, Professional Indemnity may be a mandatory requirement. However, because this is down to the individual regulatory bodies it isn’t always essential although may be recommended.
In jobs where advice and recommendations are commonplace, there is always the potential of things not going according to plan. An example would be where an architect has miscalculated measurements on a set of blueprints, which resulted in problems during construction, which had a financial impact upon the build.
This isn’t unheard of and can happen to anyone no matter their level of experience in their role. That is why Professional Indemnity insurance is so important. It can help reassure you, that when things may go accidently wrong, the implications for you both personally and professional will be less profound.
The costs of mistakes can be high when you add up the legal fees, expenses and compensation costs, that’s why we can offer you cover with £5 million worth of protection. Don’t take the risk, consider getting yourself insured.