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Professional Indemnity Insurance

Essential business protection so you can work with peace of mind.

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Professional indemnity insurance (also known as PI insurance or professional liability insurance) is widely regarded as an essential type of business insurance if you provide advice, designs or a professional service to your customers.

 

What are the benefits of professional indemnity insurance? 

Caunce O’Hara’s professional indemnity insurance provides cover for civil liabilities, and the following benefits:

Protection for you and your business against professional negligence.

Professional negligence can take many forms, the most common being making a mistake due to human error in work you have completed for a client, or providing your client with poor advice, each of which has allegedly resulted in your client suffering a financial loss.

Cover for accidental breach of confidentiality.

Unintentional sharing of confidential client information is quite common and commonly occurs through human error.

Insurance against the unintentional breach of copyright.

The rapid rise of social media has seen many people using images in their posts that they may not have permission to use. Many online images are protected by copyright of the owner, whether they be a professional photographer or an online stock image library. Using their image without permission can give rise to a PI claim being made against you.

Protection if you publish a false statement that damages the reputation of a person or company.

Defamation and libel of a competitor will get you into hot water, professional indemnity insurance provides cover for your legal defence costs in the event of a valid claim.

Insurance if you lose documents or data for which you are responsible.

PI covers money spent by you in replacing or restoring documents during the policy schedule that has been destroyed or damaged or declared lost even after a careful search.

Protection in case you lose money or goods that you are responsible for.

Compensation for court attendance.

If a director or a partner of yours, attends court as a witness in connection with a claim, the PI policy provides compensation for each day attended.

Defence costs for data protection legislation prosecution

In the age of digital, data and privacy protection legislation is strict. It can be easy to breach the legislation without knowing. So it is important to ensure you carry professional indemnity insurance protection to ensure your costs and expenses are covered in the event a claim is made against you.

Professional indemnity insurance can help you win contracts.

Many clients will insist that you have insurance before you start work for them. Typical policies insisted upon include professional indemnity insurance and public liability insurance, and employer’s liability insurance if you employ staff. These vital business insurance policies not only protect you and your business, but they also protect your client should anything go wrong.

 

Click here for a quick online professional indemnity insurance quote and find out if you could save on your insurance protection

 

Which professionals need professional indemnity insurance?

Despite the high risk of mistakes being made when undertaking client work, a surprising number of business professionals neglect to protect themselves with professional indemnity insurance.

In many cases this is because they are unaware that they need this type of insurance protection and are unaware of the potentially damaging outcome of a professional indemnity claim being made against them.

If you are unsure if you need professional indemnity insurance protection, we have compiled a list of instances when it is advisable to be insured, as follows:

  • You provide an expert service to your clients
  • You provide consultancy and advice to your clients
  • You handle personal information and data for your clients
  • Your professional membership body insists you carry it
  • Your client insists that you have it

Professionals who benefit from carrying professional indemnity insurance protection includes, but is not limited to:

  • Management consultants
  • IT contractors and IT consultants
  • Creative designers
  • Marketers
  • Technical and mechanical engineers
  • Surveyors and Architects
  • Photographers
  • Social workers
  • Teachers and tutors
  • Web designers

Call 0333 321 1403 for a PI insurance quote.

contractors working together benefit from professional indemnity insurance

What are the different types of professional indemnity insurance?

There are two ways in which professional indemnity policies are written:

  1. Claims made coverage – You are covered for claims made for the duration of your cover, regardless of when the incident actually occurred.
  2. Claims occurring coverage – This will only cover you for work done during the insurance coverage period. Therefore, it is important to understand the terms of your agreement.

Our team can help to talk you through the policy options, so you won’t be left in the dark. Simply call 0333 321 1403 for assistance.

 

How much professional indemnity insurance do I need?

The level of protection you need will depend on the value of the work you do and the potential liability. Caunce O’Hara can help you build the ideal insurance policy that will help protect all areas of your business. Simply call 0333 321 1403 for assistance or click for a quick online quote.

 

Click here for a quick online professional indemnity insurance quote and find out if you could save on your insurance protection

 

Will I still need PI insurance if I close my business?

Caunce O’Hara offer professional indemnity ‘run off ‘cover, which provides you with insurance after your business has ceased trading. Run Off insurance is important for people entering retirement because they want the peace of mind that they are still covered.

Run off insurance can sometimes be a fraction of the full professional indemnity insurance premium, and in some cases the premium will reduce year-on-year.

It is important to be aware that even though your business is no longer trading you can still be subject to a claim made against you for up to 6 years after your business closed, for instances see ‘claims in relation to’ below. The relevant limitation periods for different types of claims set out in the Limitation Act of 1980 are as follows:

PI insurance ‘claims in relation’ to:

  • recovery of land: 12 years
  • a contract: 6 years
  • awards in arbitration: 6 years
  • debt arising under statute: 6 years
  • negligence: 6 years
  • breach of trust: 6 years
  • tort: 6 years
  • personal injury: 3 years
  • defamation and malicious falsehood: 1 year

 

Caunce O’Hara is a business insurance broker offering protection to freelancers, contractors and small businesses. Insurance is vital for the protection and success of all businesses. If you would like a competitive online quotation for your business insurance, please click the green button, it only takes a few minutes.

Click here for a quick online professional indemnity insurance quote and find out if you could save on your insurance protection

 

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Complete your cover

Make sure your business is completely protected. We can also cover you for:

  • Business Combined Insurance

    In addition to PI insurance, you can further protect your business with our business combined insurance. This package offers great value, with complete coverage for your business in one simple bundle, including:

    • Public liability insurance for £1 million, with the option to increase to £5m, if you have to visit client premises or they visit yours.
    • Employers’ liability insurance for £10 million, covering you for claims from employees for injury or illness during their employment.
    • Office contents insurance up to £5,000 to protect your office contents, computer equipment and furniture against accidental damage and theft, with optional insurance for portable equipment.
    • Directors’ and officers’ liability insurance from £250,000 if you’re held personally responsible in claims against your business by creditors, employees, customers or regulatory bodies like HMRC.

    Click here for a quick quote

  • Tax Enquiry & Legal Expenses Insurance & Contract Review

    Protects your business against the costs of legal action taken against you, including contract disputes, debt recovery, tax, VAT and HMRC investigations. £100,000 cover for just £75 a year.
    IR35 Contract Reviews available for only £60.00 per contract when you purchase this policy.
    Click here for a quick quote

  • Professional Indemnity Insurance

    Professionals should have confidence in their work, but we all know that mistakes can happen. Don’t let those mistakes ruin your freelance career with the support of comprehensive professional indemnity insurance. We offer nine choices of cover from £50,000 to £5m to protect you if a claim is made against you for a mistake that happened as a result of your work which caused your client a financial loss.
    Click here for a quick quote

  • Professional Practices PI Insurance

    If your business offers professional advice or services, professional practices insurance can help to protect you against the financial blow of compensation claims and legal fees if a client makes a complaint about your work. As a professional practice, this is probably the most important cover you need. Your business will be insured for claims up to £2m if you’re sued for an accident that happened as a result of your work, or if a dissatisfied customer files a negligence claim against you.
    Click here for a quick quote

  • Energy PI Insurance

    Energy professional indemnity insurance is probably the most important cover an energy contractor needs. This type of specialist professional indemnity insurance will cover you for claims if you’re sued for a mistake that happened as a result of your work, or if a dissatisfied customer files a negligence claim against you. Choose from five limits of cover from £100,000 to £2m.
    Click here for a quick quote

  • Personal Accident, Sickness & Travel Insurance

    24 hours a day protection (not just while you’re at work) to cover you in case of a work accident or sickness caused by your work. Prices start from only £36.44 a month for £50,000 of cover.
    Click here for a quick quote

Benefits

  • Competitive pricing
  • Dedicated handlers to assist with your queries
  • Documents issued instantly via e-mail
  • Access to your own claims team
  • Cover for legal defence costs and compensation bills
  • Monthly payments
4.8/5 4.85/5
  • "Used these before then changed to another broker who could not help me with an update to my insurance. Caunce O'Hara had no problem and set up my insurance in about five minutes. Highly recommended."
  • "Insurance Renewal - Plenty of warning up front as to renewal date, requests for any changes and quote. Reminder leading to actual renewal date. New certificates available on date agreed. Can't complain at all about the service."
  • "All correspondence has always been clear and reply to questions swiftly answered. Cost is very competitive. Would definitely recommend."
  • "I have automatically renewed my indemnity insurance for several years but as I have gradually reduced work commitments I needed to discuss my options prior to making a decision about renewal.
    I found the person I dealt with very helpful and knowledgeable about my options."
  • "A very helpful, kowledgable and adaptable telephone advisor enabled discussion beyond standard questions in order to secure the most approprite insurance honed to my business deeds and relevant discounts. This led to the most comptitive quote over other larger companies."
  • "I have been with Caunce O'Hara for almost 12 years now and am always very pleased with their service and customer support as well as the costs for the cover."
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