Professional Indemnity Insurance

From £147.00

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Professional Indemnity Insurance will react in circumstances where an error or omission in your services causes, or is alleged to have caused, a third party a financial loss.

As with solicitors and accountants, contractors provide professional advice and services which are relied on by their clients. As a consequence you no doubt act with a reasonable degree of care and skill in order to ensure that your clients' interests are protected. 

However, even where care and skill is exercised, there is still the potential for you to make a mistake that causes financial loss to a client or for a client to allege that you have made a mistake even if you have not. Whilst such disputes are rare, when they occur they can be costly.

Carrying Professional Indemnity Insurance will give your clients the reassurance that you have taken reasonable steps to ensure you are covered in the unlikely even of an alleged breach of duty, adding value to any tender. In addition, having PI insurance will bolster the perception that you are in business on your own account, therefore aiding your IR35 position.