Professional Indemnity Cover
Professional Indemnity Cover protects you and your business when a client alleges that your advice, service or work fell short — covering legal defence costs and any damages awarded, so one dispute doesn't threaten everything you've built.
It's essential for consultants, advisors and service professionals whose reputation and livelihood depend on the quality of the advice they give.
Get A QuoteBenefits Of Professional Indemnity Insurance
Covers Legal Defence Costs
Legal fees are covered from the moment a claim is made, even if the allegation is later found to be unfounded.
Protects Your Reputation
A properly defended claim protects not just your finances but the professional reputation you've spent years building.
Tailored To Your Profession
Cover is shaped around the specific risks of your field, rather than a one-size-fits-all policy.
Peace Of Mind To Practice
Take on new clients and bigger engagements with confidence, knowing a single dispute won't derail your business.
Contractual Compliance
May help professionals meet insurance requirements imposed by clients, regulators or professional bodies.
Business Financial Stability
Helps protect professional firms against potentially significant liability claims that could threaten the business.
Types Of Claims Covered
Professional Indemnity Insurance responds to claims arising from your professional services, including:
- Errors, omissions or mistakes in professional advice, reports or recommendations.
- Failure to deliver services on time or to the expected standard.
- Breach of professional duty or confidentiality.
- Negligent misrepresentation or incorrect information provided to clients.
- Legal defence costs from the moment a claim or allegation is made, even if the claim is later found to be without merit.
How Professional Indemnity Insurance Works
Assess Your Professional Risks
We review the services you provide, your client base, contract terms and the types of claims common in your profession.
Choose An Appropriate Limit
Select a limit of indemnity that reflects the value of your engagements, contractual requirements and potential claim exposure.
Retroactive Cover
Many policies cover claims arising from work done before the policy start date, provided you were not aware of the potential claim when cover began.
Claim Notification
If a client makes a claim or you become aware of circumstances that could lead to a claim, notify the insurer immediately.
Defence And Settlement
The insurer appoints legal representatives, manages the defence and meets eligible compensation and legal costs within the policy limits.
Who Needs Professional Indemnity Insurance?
Accountants And Auditors
Protecting against claims arising from financial reporting, audit opinions and tax advice.
Lawyers And Legal Practitioners
Covering claims related to legal advice, documentation and professional duties.
Architects And Engineers
Protection against design errors, structural miscalculations and project management claims.
Consultants And Advisors
Covering management consultants, business advisors and strategy professionals against negligent advice claims.
IT Service Providers
Protection against claims from software failures, data loss, system design errors and technology implementation issues.
Insurance Intermediaries And Healthcare Professionals
Covering claims related to professional advice, treatment decisions and regulatory compliance.
Frequently Asked Questions
What is Professional Indemnity Insurance?
Professional Indemnity Insurance provides financial protection against covered claims arising from professional negligence, errors, omissions or breaches of professional duty in the services you provide to clients.
Is Professional Indemnity Insurance mandatory?
It is required by some professional bodies, regulators and clients as a condition of practice or contract. Even where not mandatory, it is strongly recommended for any professional who provides advice or services to clients.
What is the difference between Professional Indemnity and Public Liability?
Professional Indemnity covers claims arising from your professional advice and services. Public Liability covers claims arising from physical injury or property damage to third parties. A consultant may need both.
Does it cover claims from previous work?
Many policies include retroactive cover for claims arising from work done before the policy start date, provided you were not aware of the potential claim when cover began. The retroactive date is specified in the policy.
How much cover do I need?
The appropriate limit depends on your contract values, client requirements, regulatory expectations and the potential severity of claims in your profession. We help you assess the right level.
What should I do if a client threatens to make a claim?
Notify your insurer and Wysline immediately, even before a formal claim is made. Early notification helps the insurer manage the situation and protect your interests.
Get A Professional Indemnity Insurance Quote
Your expertise is your livelihood. Protect it against the financial consequences of professional liability claims. Speak to Wysline about Professional Indemnity Insurance.
Cover, limits and exclusions vary by insurer and are subject to underwriting acceptance and the policy terms and conditions. Speak to Wysline Insurance Agency for a quotation tailored to your profession.