Insuring for Professional Indemnity

If you are in the business of giving advice, then you should have Professional Indemnity insurance. In some cases, Professional Indemnity cover is compulsory in order to meet regulatory or professional membership requirements.

Professional Indemnity protects your business from claims of negligence or breach of duty arising from your services or advice.

Professional Indemnity and Public Liability are sometimes confused. They are both policies that protect your business from liability but they cover different risks.

When arranging these policies your broker should take care in order to make sure both policies work alongside each other.

Tempo Tips

• Ask your broker to review insurance or indemnity conditions in your contracts with clients and your landlord
• Do you use subcontractors? Do they have their own insurance policy?
• Do your clients request evidence of your Professional Indemnity cover?