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Professional Indemnity Insurance

Need flexible, affordable, professional indemnity insurance? Let Fortify Insurance compare our markets to find you quality cover.  Our 4.9/5 Google-rated team can find you the right cover at the right price for your business.

Flexible, Affordable, Tailored PI Protection

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What Is Professional Indemnity Insurance?

Professional indemnity insurance (or PI insurance as it’s also known) offers financial protection should you or your business be sued by a client if you make a mistake in a piece of work or do something that causes them financial or reputational loss.  For many businesses this is an important cover.  Thanks to our close relationships with a range of leading insurers – household names including Aviva, RSA, and Axa – we can offer you affordable, high-quality PI protection.

If you’d like to know or would like to get a professional indemnity insurance quote, please call us on 01733 301520.

Who Needs Professional Indemnity Insurance?

If your business gives advice then it would be wise to have PI policy in place.  Over the past decade, the Association of British Insurers has reported a surge in the number of small and medium sized (SME) businesses taking cover out.  Some of the more common types of businesses that have a professional indemnity insurance policy include:
  • Builders
  • Solicitors
  • Architects
  • Private tutors
  • Financial advisors
  • Recruitment consultants
  • Marketing agencies
  • IT service providers
The list goes on and on, but what these companies have in common is that as part of their offering they give professional advice, advice that can lead to legal problems, hence the need for PI cover.

What Can Professional Indemnity Insurance Protect You Against?

PI can protect you against a range of potentially costly risks such as:

 

  • Breach of duty – a breach of duty is when you or your company fails to live up to the duty you have promised the client. Whether that’s by delivering below par advice or not providing a service that you’d agreed to.  In some cases, if a claim is brought against you, you could be left personally liable for the costs and damages.  Professional indemnity insurance protects you against these costs, providing great peace of mind for an affordable premium

 

  • Loss of documents or data – this applies to losing documents and data or sharing data or sensitive information without prior consent. Whether you’re a solicitor, lawyer or a data controller – such as a digital marketing consultant – you could be held personally liable for losing documents or data and face hefty penalties.  In a digital world where threats from cyber-attacks are real and rising, this is something that’s well-worth protecting yourself against

 

  • Civil liability – this specifically looks at the effects of the advice or instructions rather than assigning fault with the initial advice. You’ll need civil liability cover if your advice leads to injury or illness as opposed to financial loss.  If you complete consultancy work then this will be more relevant to you than, say, for a financial advisor or a lawyer

  • Negligence – every professional has a duty of care to their client. This means they must act and deliver their services to a high standard, taking reasonable care to do so.  Due to the Supply of Goods Act 1982, there doesn’t need to be a breach of a specific contractual agreement for you to be liable for negligence.  As an independent body – such as a financial advisor – this would fall on you personally and could leave you with large legal costs and compensation claims to pay

 

  • Contractual liability – if you sign a contract with another company and assume liability on behalf of them in your job role, contractual liability could be useful for you. This protects you if you’re held liable for failing to uphold the terms of a contract.  This could affect both service-based and advice-based businesses, and it could be key to protecting you

  • Defamation – if you make false or defamatory statements about a person or organisation, you could be held liable for damages. It’s particularly useful for those in the journalism industry or anyone that regularly makes statements via a public platform such as social media, PR or online marketing

What Are Benefits of PI Insurance?

PI is all about peace of mind.  Thanks to the rise of no-win, no-fee cases, accessing legal action has become easier and, according to Legal Eye, more and more SMEs are taking policies out. 

Professional Indemnity Insurance

Frequently Asked Questions

Professional indemnity insurance can be complicated, so to help you get the protection you need, here are a selection of frequently asked questions about professional indemnity cover:
While it’s impossible to generalise, if your business offers advice or enters into contracts with clients or another business, then PI is probably something you should consider.

All sorts of professions and organisations can benefit from this type of protection.  While the most common ones are things like solicitors, financial advisors, and accountants, everyone from private tutors to fitness trainers can benefit from a policy. At Fortify, we can find policies for most types of businesses and organisations.  We’re extremely flexible, so if you’d like to discuss your specific needs then please call 01733 777789 or contact us today.
How much you pay will depend on factors such as:
  • The size of your business
  • How many risks you wish to be insured against
  • What you do and what clients you have
  • The level of risk you face.  If you are advising large clients who are paying you substantial sums, then you will need higher levels of cover which will cost more
If you’d like to discuss your specific PI needs then please call 01733 301520 or contact us today.
The amount of PI cover your business needs will depend on the type of work you do and the type of clients you serve.  If you work with large organisations in heavily regulated industries – such as solicitors or accountants – then your professional indemnity requirements are likely to be higher.  A good way to gauge how much cover you need is to talk to your clients and ask them how much they would expect you to have in place.  Some may have a minimum threshold specified by a governing body they belong to. The best way to find out how much PI you need is to talk to an independent insurance broker such as Fortify Insurance.  We can do a full risk assessment for you before comparing our markets to find you the cover you need.  To start your free professional indemnity insurance , please call 01733 777789 or contact us today.
Definitely. This is a policy with lots of moving parts and to get the full benefit you’re best-off speaking to an independent insurance broker who can make sure you have the cover you need.
At Fortify, we have many years of experience in finding clients the cover they need, and thanks to our close connections to a range of insurers, we can do the shopping around for you.  If you’d like to discuss your requirements, then please call 01733 301520 or contact us today.

Get A Professional Indemnity Insurance Quote

If you’d like an affordable professional indemnity insurance quote, then call Fortify on please call 01733 777789 or click here to start your quote. Our team of specialists will search our markets to find you the right policy at the right price to keep your business protected.
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