This specialised area of insurance covers any financial loss of a third party which happens due to an error or omission made by a professional in their services &/or advice.
A professional is generally considered to be a person of a skilful nature who has the appropriate qualifications and skillset to provide another person advice for a fee. This definition of a professional is very broad and so is the various range of industries which Consultants and Advisers operate within.
The main aspects a Professional Indemnity insurance policy will protect you against is:
negligence; claims arising from you or your staff giving incorrect advice or making a mistake in your work
any civil liability; claims arising because of your business activity for a client
infringement of intellectual property rights; claims arising as a result of breach of copyright or trademark
client documents; Claims for client documents that are lost, stolen or damaged in your care, including data
your own losses from dishonesty; claims for losses as a result of dishonest conduct by a director, employee or self-employed freelancer contracted to you and under your supervision.
Ascot Insurance Group and it’s experienced brokers can make the difficult decision of selecting the right Professional Indemnity cover to suit you business a very simple and smoot process.