PROFESSIONAL INDEMNITY Insurance

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IF YOU OFFER PROFESSIONAL ADVICE OR SERVICES, YOU SHOULD CONSIDER PROFESSIONAL INDEMNITY INSURANCE.

Protect Yourself against the Consequences of Negligence

Those who provide professional services could be accused of negligence if their advice or service causes a loss for a customer.

You’ll need to consider Professional Indemnity Insurance if you provide advice or expertise, provide a professional service or handle client data. Customers could make a claim against you if you share confidential information, infringe copyright, make an error while working or provide poor advice that results in lost revenue.

Romero Insurance Brokers specialise in complex, high-value Professional Indemnity cover, both in terms of the placement of business as well as the handling of often intricate and demanding technical claims.

Ask yourself this: could you survive financially if your business was hit by hefty legal bills and compensation payouts?

Professional Indemnity Insurance is your financial back-up, there to provide peace of mind that human error won’t make or break your business.

We all make mistakes. But don’t end up footing the bill for yours. Read our range of articles on Professional Indemnity insurance to learn more, or contact us to get your insurance solutions sorted.

You can read our Professional Indemnity Whitepaper and online articles to learn more as to why this cover is necessary, or alternatively you can contact us to get your insurance solutions sorted

What types of businesses require Professional Indemnity insurance?

A whole host of businesses and individuals should have Professional Indemnity insurance in place, the key businesses being:

  • Solicitors
  • Accountants
  • Chartered surveyors
  • Architects
  • Construction companies
  • Healthcare professionals
  • Engineering businesses
  • Financial consultants

Some companies are required to have Professional Indemnity insurance in place by professional bodies, whereas others choose to have the protection in place.

Truly, most companies should have Professional Indemnity insurance in place – even if they have never faced a claim of this sort.

What professional bodies require their members to have Professional Indemnity Insurance?

Certain businesses will also be required to have Professional Indemnity cover as part of their membership of a professional body. These regulatory bodies include the below:

  • Solicitors Regulation Authority (SRA) for solicitors
  • Royal Institution of Chartered Surveyors (RICS) for surveyors
  • Bar Standards Board (BSB) for barristers
  • Financial Reporting Council for accountants
  • Architects Registration Board for architects

To check whether it is mandatory for you to have this cover in place – contact Romero Insurance Brokers.

Benefits of
Romero Insurance Brokers

Professional Indeminity Insurance
Frequently Asked Questions

Professional Indemnity insurance responds when allegations of damage or injury are thought to be caused by poor advice, inadequate design or a failure in the service provided by a professional organisation.

Examples of businesses that require Professional Indemnity insurance are:

  • An architect providing designs for a building
  • A solicitor advising a client on how to pursue a legal matter
  • An accountant filing a client’s tax return

The majority of Professional Indemnity claims concern construction companies, design firms, legal services and solicitors.

It is a cliché that everyone makes mistakes, but is nonetheless absolutely true – occasionally even the best, brightest and most conscientious of us will be distracted while doing something important, misread a word or sentence, or provide advice with good intentions only to find that it was misguided or given when not in possession of all the facts. In these scenarios, PI cover is there to cover a business or individual.

Romero Insurance Brokers specialise in complex, high-value Professional Indemnity cover, both in terms of the placement of business as well as the handling of often intricate and demanding technical claims. Through our 20+ years of experience and our dedicated professionals fully understand the Professional Indemnity insurance industry. Indeed, Romero Insurance Brokers is best placed to protect businesses from complex, varied and extremely costly risks.

Arrange a confidential review

Contact us today to get started with Romero Insurance Brokers. With your permission, we will be able to perform a confidential review of your business and insurance terms, able to go to insurers and determine our best offer which might be better than your current provider.

See Our Latest Professional Indeminity Updates

Professional Indemnity Requirement Changes for RICS Surveyors and Construction Businesses

The Grenfell tragedy’s effect on the insurance industry was unprecedented. The pool of approved insurers diminished, rates increased and restrictions in cover became more prevalent.

The Full GUIDE TO PROFESSIONAL INDEMNITY INSURANCE

Read our Professional Indemnity Whitepaper, authored by Technical Claims Director, Stuart Dobbins.

PROFESSIONAL INDEMNITY INSURANCE FOR CONSTRUCTION COMPANIES

Why is an independent broker essential for arranging Professional Indemnity insurance?

WHAT IS THE PROFESSIONAL INDEMNITY CRISIS?

Our in-house construction insurance expert at Romero Insurance Brokers discusses Professional Indemnity Insurance and how it affects both contractors and insurers