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Speciality Professions

The UK has a large services economy and increasingly more professional businesses are emerging offering value-added services to businesses and consumers.

Providing a professional service in return for fees, creates a professional liability. Client’s expectation levels are constantly increasing and they have high standards for quality and timely delivery of services. Firms falling short can be vulnerable to complaints.

Regardless of your profession, PI insurance can be a cost effective way to transfer risk and give you peace of mind. A complaint or claim from a client who is unhappy with your service, needs to be dealt with quickly and efficiently. Reputational damage, financial compensation and legal bills are just some of the things you want to avoid.

Choosing the right cover for your business

For many different professions, PI insurance is now considered essential business protection. Clients are increasingly asking for professional service providers to carry PI cover and their expectations for standards of work is increasing. It’s a great way to demonstrate you take a responsible approach to your work. PI cover can both pay claims and offer additional support including defence costs and access to claims advisers.

Many consultants consider the following cover options:

Many professionals rely on their electronic devices (phones, tablets, laptops). Accidents happen and being unable to meet a deadline for a client due to a lost or stolen laptop could have costly implications for your business. Insurers can protect your equipment at the office, at home or away from the office.


Our Public Liability coverage provides cover for damages and claims expenses due to third party injury or property damage, caused by you in the course of your work, or at your premises.  Our insurer can also contribute towards court attendance and criminal defence costs.


If you employ any staff it is a legal requirement to hold Employers’ Liability insurance. Professionals may employ an assistant, or larger firms will employ additional consultants. EL protects you and your business against potential employment claims from staff.


Client data and client lists can be vital to your business. If you have built up a wealth of contacts, your network can be vital to your consultancy business. Our response acts like an emergency service to help manage a data breach. If you accidentally leave a laptop on a train with sensitive data insurers help manage the fall-out.


Directors of companies are obligated by their fiduciary duties and must act with honesty and integrity as a company director. Alleged or wrongful actions by a named director can include mis-reporting of accounts, HR and employment claims, reporting errors or tax investigations. Profile PI can arrange D&O cover to protect and defend individual directors from claims by employees, shareholders or regulators and authorities.


If your office is out of action due to a flood, public utilities disruption or you are denied access, it can have a big impact on your income and ability to meet client deadlines. BI insurance can provide your business cover for your lost income.


From time to time you may require the services of a lawyer for legal advice. Specialist legal advisers’ costs can quickly mount up. Legal Expenses cover can help with tax enquires, employment matters and regulation matters to name a few.

 

Our staff would love to create a bespoke package of cover and limits based on your business requirements specifically for you.(Enter)

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