Other Professions | Professional Indemnity Insurance
If your business involves giving advice or selling expertise, you should protect yourself with a good quality professional indemnity (PI) insurance policy. The Hiscox policy from Blyth Valley is perfect for a number of roles, including:
- Environmental consultant
- Life coach
- Translator
- Work permit consultant
- Feng shui consultant
A specialist professional indemnity insurance policy will protect your financial interests and your professional reputation if a claim is made against you in the course of your work for clients.
Why you need PI
As a consultant, you could be personally liable for giving incorrect advice, for example, or if you were responsible for a breach of confidential information. You could be accused of misrepresenting the interests of a client or distributing inaccurate information.
Today, people who use professional services are more likely than ever to blame the professional when things go wrong.
In law, as a professional, you owe a duty of care to the people you work for. This could include your clients and the interests of certain suppliers: a large number of people who could make a claim of negligence against you.
The chance of a claim being made against you may be small; but, if a claim was made, you could find it very expensive to defend yourself.
Claims example
You've just completed the translation of an instruction booklet for a major furniture retailer.
The client is delighted with your work and distributes your booklet with his next batch of self-assembly shelving.
A week later, the client is in touch again. Sadly, he's not calling with a request with a new commission, but with news that he has been informed of a mistake in the instruction booklet which has led to him having to recall his shelving packages from across Italy at huge expense.
It appears that a sentence in your translation renders the instructions useless and he is suing you for breach of duty of care.
Your professional indemnity policy will pay your legal defence costs plus any damages for which you're found liable.
Quote and buy online
The Hiscox SP Policy is available to purchase online for instant professional indemnity cover. Before you buy, please take a read through the policy wording and summary of cover.
The policy is continuous: by choosing to maintain premium payments (by monthly interest-free Direct Debit), coverage will remain intact: saving you the hassle of annual renewal.
What's more, you can add cover for public liability, employers' liability, and office contents for one easy-to-manage business insurance policy.
Ready to buy? Get quote now
If you need any more information, require a bespoke quotation, or simply prefer to buy over the telephone, please call us on 0845 370 9030 between 9 and 5.30, Monday to Friday.