Professional indemnity (PI) insurance can offer protection for your small business if a client claims you’ve made a mistake, been negligent or offered poor advice.
No matter your industry, clients expect the best and you always work hard to provide exemplary service. PI insurance is on hand to keep your business’ wheels in motion when things don’t go to plan.
Professional negligence or a breach of a duty of care – this might occur when poor conduct or advice results in negative consequences for a client
Negligent misstatement or misrepresentation – this is where a client or other party claims you made a false or misleading statement about their business
Defamation – a client may claim a statement you’ve made to be untrue and damaging to their reputation and make a claim against you
Breach of confidence – whether intentional or accidental, this is when private information is disclosed without consent as a result of a business activity
Breach of copyright – when you unintentionally use someone else’s intellectual property rights in work you do for a client
For a quick and competitive quotation, please contact Oak Insurance Brokers:
You might be required by a regulatory body or client to have a professional indemnity policy in place before you start working on a contract.
This type of cover could be pertinent for those providing a professional service and for those required to handle client data or intellectual property. It may, therefore, be beneficial to have comprehensive PI insurance cover as soon as you start taking on clients.
If an employee gets a task wrong, there’s been a breach, or even if you feel there’s no error on your part at all, you may still have to defend yourself.
