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Professional Indemnity Insurance provides essential financial protection for a wide range of professional advisers. If you offer advice, create, design or offer similar services in a professional capacity then Professional Indemnity Insurance is for you.
As court awards have risen in the last few years, without Professional Indemnity Insurance, the financial security of your business could be threatened.
Most professionals carry professional indemnity cover. If you are a lawyer, accountant or financial adviser, then you must have professional indemnity insurance. Professionals such as architects, consultants, advertising and PR agencies, and designers often opt for such cover as well.
A Company chose a name for trading under after consulting with company registration agents, no objections were raised. They began trading and proceedings were issued by a company using a similar name and £20,000 was paid by the company registration agents.
Architects prepared structural drawings for a building. Later there was found to be errors in the drawings and £140,000 was claimed for the costs of alteration and the resulting delays in construction.
An Estate Agency missed the opportunity to carry out a rents review because of a defective rent review notice. The claim was settled for £50,000.
Due to the individual and complex nature of Professional Indemnity Insurance, please contact Underwood Insurance Services Ltd direct to discuss further.