When we talk about ‘Professions’ at Clear we have in mind those businesses that act in an advisory capacity to others. If that’s what your organisation does then you probably need Professional Indemnity Insurance (PI) and that’s one of our specialisms.
PI protects you against claims from your clients for wrongful advice, error or omission. So if, for instance, you get something wrong with a design or you forget to advise your client of something, which results in a financial loss to them, your insurance can indemnify you against claims from your client and any legal costs incurred. But there’s more to PI than cover for advice – if you supply a product which causes your client financial loss it’s normally your PI policy that will protect you.
Traditionally the province of long established professions such as accountants and solicitors, many businesses now need PI, including:
Translators, patent protection and Intellectual property consultants
Recruitment consultants, tour operators and travel agents
IT consultants
Management consultants
in fact almost any consultancy…
PI need not be complicated but it is best arranged by someone who specialises in it and can explain it to you in language you’ll understand. Someone with the experience and contacts in the market to get you the right cover at the right price; someone who understands professionals.
Our Professions clients normally ask us to arrange their full insurance programmes, typically comprising an office policy to cover buildings and contents, business interruption, employers & public liability and directors & officers insurance. We can also help with motor fleet, private medical and a range of other insurances.Â
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