Professional Indemnity insurance
If you provide advice to someone who believes you to be competent to give that advice and they subsequently act upon it and suffer injury or loss then you can be held legally liable.
It is a misconception to believe that you can only be held liable if you have charged a fee. You can be equally as liable where you haven’t charged a fee, a legal principle established in the case of Hedley Byrne & Co Ltd v Heller & Partners Ltd in 1964 which is still the leading case today.
There are many professions which require professional indemnity insurance, some of which are listed below:
- Solicitors
- IT Consultants
- Accountants
- Marketing Consultants
- Financial Advisers
- Management Consultants
- Fund Managers
- Software Companies
- Architects
- Medical Practioners
- Surveyors
- Veterinary Surgeons
- Stockbrokers
Insurance protection covers you in respect of your legal liability to third parties and will pay the legal costs incurred in your defence and also the claimant’s damages and legal costs awarded against you if you lose.
We have extensive experience in arranging professional indemnity insurance.