Legal Professional Insurance

Alleged professional negligence

Negligence occurs when someone fails to fulfill certain duties or obligations. Examples of professional negligence can include, but is not limited to:

• Imparting incorrect legal advice to a client that results in a loss.
• Errors in drafting legal documents
• Under-settling on a claim.
• Missing limitation deadlines.

Professional Indemnity insurance would respond to provide cover for most instances such as these.

You cause property damage while in a clients premises

You accidentally damage property while visiting a client’s premises. A claim is made against you to pursue damages for the damaged item. This instance you would be covered by Public Liability insurance.

With our online quote and buy system you can see an indicative quotation for your insurance in a matter of minutes. Professional indemnity insurance can start from as little as £98.00 per annum.

As an example: a mediator with an annual turnover of up to £50,000 per annum, with a £500,000 indemnity limit in any one claim, would pay £192.00 per annum for professional indemnity insurance. That’s only  £16.00 a month, which we think is great value considering the cover and peace of mind that you benefit from (Figure correct as of 17.11.2021).

Apart from Professional Indemnity insurance accountants and finance professionals will typically be required to carry Public Liability insurance, especially if they work from office premises and meet clients face-to-face.

It is important to be aware that as a self-employed business owner, a claim can be made against you personally with unlimited personal liability, therefore Directors and Officers insurance is a valuable insurance policy which will cover you in this instance, which is provided as part of our Business Combined Liabilities insurance product.

Our Tax Enquiry and Legal Expenses insurance will also provide cover for costs incurred from a legal occurrence or claim that your indemnity and liability insurance does not cover.