Professional Indemnity Insurance
Professional Indemnity Insurance
Professional Indemnity Insurance
Professional Indemnity Insurance defends claims arising from your negligence and bad advice in work you undertake for clients.
It is important that the risk is considered and the limit of indemnity is set at a level to meet any claim that may arise from any act of negligence.
For example an architect making an error in the plans for a construction project which only discovered when the building work is underway a claim could be made for the rebuilding work, cost of wasted material and many other losses.
Professional Indemnity Insurance cover can include:
- Limit of indemnity in aggregate or any one claim
- Collateral warranties with unlimited assignments
- Pollution sub limit of indemnity
- Policy excess not applicable to costs and expenses
- Innocent non disclosure
- Liable and slander
- Loss of documents
- Dishonesty of employees
- Unintentional breach of copyright
- Unintentional breach of confidentially
- Intellectual property rights
- Geographical limit – up to worldwide
- Retro date of cover
It is important to make sure your insurance broker also has adequate cover for any risk for which they are arranging insurance. The minimum requirement under FSA regulations is only £1,500,000.
Bromwall can provide professional indemnity insurance for all trades from computer consultants, surveyors, accountants, architects to social workers, consulting engineers and construction contractors. If you are not sure if you require professional indemnity insurance cover call us today and we will be happy to talk things through and advise you accordingly.
