P B Curran - Finance - Insurance - Risk Management

Professional Indemnity Insurance

Professional Indemnity insurance protects your business against claims if you have made mistakes or are found to have been negligent in some or all of the services that you provide. It also covers legal action taken against you following loss of documents or data, dishonesty (the theft of your clients money) and any intellectual property claims such as infringing on copyrights/trademarks or passing off someone else's design or work as your own.

You may even be sued by a client who is merely dissatisfied, but has no valid claim, leading to substantial legal costs.

Many professions, such as solicitors & architects, are required to have cover as a regulatory requirement. Many consultants and designers also choose to have this type of insurance in addition to builders and engineers who are involved in design work, whether it be in-house or contracted out.