Professional indemnity insurance and more

Professional indemnity insurance is designed to protect people who provide services to clients against claims made by those clients.

Why do I need professional indemnity?

Increasingly, professional indemnity insurance is a requirement for individuals and businesses who take on contracts for large organisations. The large organisations see it as an essential protection should a mistake be made in the work carried out.

If you find yourself in dispute with a client, your professional indemnity insurance policy will cover the cost of defending any allegations or claims made against you, so you won't have to pay lawyers' fees. If you're in the wrong, the professional indemnity insurance will either pay the cost of putting your mistake right, or pay compensation on your behalf.

As business insurance specialists, Blyth Valley understands that the all-important thing for you is to be able to get on with your business and maintain your client relationships, even if you do make a mistake in the course of your work.

Why do I need professional indemnity insurance?

We believe that anyone who gives advice or who provides a professional service to clients should have professional indemnity insurance.

The reason is, as a professional, you owe a legal 'duty of care' to your clients.

If you breach that duty of care, for instance by making a mistake in the services you provide, your client can claim compensation from you for the losses and expenses caused by your negligence.

In today's commercial environment, clients, whether individuals or corporations, are more likely to seek compensation than ever before.

With professional indemnity insurance cover, your insurer will defend the claim on your behalf, and pay any damages you may be required to pay.

It's worth bearing in mind that, even if the allegation made against you is false, you will still have to defend yourself.

And, while in reality most claims are settled before they get to court, the legal costs involved in even quite minor disputes can build up very rapidly.

With the right professional indemnity insurance policy, the only cost you'll have to pay is the excess on the policy, no matter how high the lawyers' fees are.