What are the legal and financial risks of not having Professional Indemnity Insurance?

Simply put, if you make the decision to operate without the adequate professional indemnity insurance you are leaving your business open to financial claims and legal proceedings from your clients and other potential third parties.

The costs of an insurance premium could prove significantly cheaper than a claim which could very quickly reach hundreds of thousands and in serious cases, even millions of pounds; all of which you could be held liable to pay. The cost of a claim, if you don’t have insurance could ultimately end up costing you your business.

Do I need Professional Indemnity Insurance?

Firstly, it is worth noting that professional indemnity insurance is not compulsory for all professions within the United Kingdom. 


What does Professional Indemnity Insurance cover?

Fortunately, Professional Indemnity insurance covers an array of potential risks. Below, we go into a bit more detail of some of the more common legal issues that some professionals may encounter:


How much does Professional Indemnity Insurance cost?

As with most insurance, the cost of a professional indemnity policy will depend on certain factors. For example, exposure to certain risks associated with your profession and the size of your business.


Professional Indemnity Insurance, Quick, Simple, Hassle-free

Risks of not having professional indemnity insurance