Get a FREE online quote
Save time & money with Falcon or call 0121 679 7265 and put us on test to see how much we can save you!
What is Professional Indemnity insurance?
Professional indemnity insurance is often referred to as professional liability insurance or PI insurance. You may also hear it referred to as professional negligence cover or professional mistake cover.
This type of insurance covers the cost of any damages that may be awarded to third parties when inadequate advice, services or designs are deemed to have caused irreparable damage or significantly negative consequences – for instance, when a poor service or design causes one or more customers to lose money. It also covers the legal costs and expenses incurred for a defence case if legal action is taken.
Protecting professional indemnities
Many professions are required to have this cover by their industry’s regulatory bodies. But even if you’re not bound to have PI insurance, remember that without it, you could be liable for very expensive legal fees and compensation payments. And that’s before any lost income which may result from negative press or the time spent defending a claim.
Some of the professions that may need professional indemnity cover include: management consultants, offshore oil and gas contractors and engineers, project designers (such as interior designers, graphic designers and web design agencies), fitness and wellbeing trainers and consultants, recruitment agencies, and private tutors.
Why do I need PI Insurance?
Think you don’t need it? Remember that even when you do everything right, there’s always a possibility that something can go wrong. Thanks to the correct insurance cover, you can have the peace of mind that should the worst happen, your PI insurance will protect you against the cost of a claim for negligence or any mistakes that may be made by you or your employees.
How much does indemnity insurance cost?
Although the cost of PI insurance will inevitably vary according to numerous factors – such as the amount of cover, the size of your business, number of employees, type of business, business history, etc – you can rest assured that Falcon Insurance will always go the extra mile to seek out the very best policy for your specific needs at the lowest possible price.
Why choose Falcon Insurance?
We work closely with clients to provide specialist tailored insurance solutions when off-the-shelf policies aren’t appropriate or sufficient.
Falcon’s dedicated claims line is available 24 hours a day, 7 days a week, 365 days a year, and is manned by friendly and helpful UK-based call-handlers, providing unrivalled customer service.
We also offer flexible payment options, where clients can choose to pay either in one lump sum or in regular instalments.
For complete peace of mind, request a professional indemnity insurance UK quote from Falcon Insurance.
PI insurance will provide:
- Professional negligence cover
- Professional mistake cover
- Loss of data cover
- Loss of goods cover
- Loss of money cover
- Loss of documents cover
- Breach of confidentiality cover
- Defamation cover
- Run-off cover*
*Run-off indemnity cover insures business owners against claims of professional negligence after their business has ceased trading – for example, when a business has been sold or closed down, or when a business owner has retired.
Insurance Made Simple
Fast documentation
Unrivalled customer service
Competitive rates
24 hour claim line
Knowledgeable friendly staff
Flexible payment options
UK based call handlers
Save time & money with Falcon Insurance
And put us on test to see how much we can save you!