Do you give professional advice or provide a professional service? Professional indemnity insurance protects businesses and individuals against the financial consequences of any errors made.
Unfortunately, sometimes even the simplest of circumstances can lead to a claim against your business. Someone might allege that you made a mistake, or provided them with inadequate or inaccurate advice. Perhaps you misinterpreted what was required, or unintentionally breached privacy or confidentiality. Maybe there was a failure to perform the work promised in the contract.
Having professional indemnity insurance in place will give you access to the legal costs you need to defend yourself, and will pay for any resulting judgments against you (up to the coverage limits in your policy).
Importantly, professional indemnity insurance will also help protect and defend your reputation. While settling a claim as quickly as possible may seem like the easiest solution, it’s important to consider the long-term impact of doing this. It may be seen as an admission of guilt and could have a devastating effect on your reputation.
Emjay Insurance Brokers can help you choose the right policy to protect you, your business and your reputation.
Who we can help
Professional indemnity insurance is generally relevant to those professionals who provide advice for a living. However, a professional can be anyone who earns a living by performing an activity that requires a level of education, skill or training.
We work with professionals across a wide range of industries, including:
- Design & Construction Professionals (D&C)
- Construction & Civil
- Engineering (including structural, civil, marine and geo-tech)
- Financial institutions
- Pharmaceutical industry
- Media Liability / IT Professionals
- Advertising and marketing
How we can help
At Emjay Insurance Brokers, we have access to a full suite of professional indemnity insurance products and can tailor a risk management solution to meet your needs. We can help with:
- Contractor-Subcontractor management advice
- Contractual liabilities and reviews
- Loss mitigation extension
- Intellectual property extension
- Proportionate liability
- Waiver of subrogation and ‘hold harmless’ advice
- Fraud and dishonesty coverage
- General cover assistance – such as directors and officers insurance, cyber liability insurance and more)
You might think professional indemnity insurance is an unnecessary business expense, but that may not be the case. Without coverage in place, the financial security of your business could be threatened.
Let us assess your risks before you decide. We can guide you through your options, review your contracts and find the best solution for your business.