Professional Indemnity
Clear information about professional indemnity, what to consider and the next steps before requesting a quote.
What is Professional Indemnity?
Professional Indemnity can form part of a business insurance arrangement, depending on the activities, property, liabilities and financial exposures of the business. Cover varies by insurer, trade and policy wording.
Who might consider this cover?
Businesses should consider the actual activities they carry out, who they deal with, their premises, employees, equipment, contracts and potential liabilities. A policy should reflect the risks that are relevant to the business rather than relying only on a trading description.
Key things to understand
Describe all activities accurately, including work away, subcontracting, products or services and any higher-risk work.
Check liability and other policy limits are appropriate for contractual requirements and the potential size of a loss.
Review sums insured for stock, contents, machinery, tools and other business property where applicable.
If included, check the indemnity period, gross profit/revenue basis and insured amount are appropriate for the time the business could take to recover.
What to check before arranging cover
Check the quotation, policy wording, schedule and any endorsements together. Pay particular attention to eligibility, insured events, exclusions, excesses, limits, waiting or deferred periods where applicable, and any conditions you must follow. The exact cover is determined by the insurer’s documents, not by this general website information.
Information we may need for a quote
The details required depend on the product. We may ask about the person, property or business being insured, the cover required, previous insurance and claims, and other information relevant to the insurer’s questions. Please provide complete and accurate information and tell us if relevant circumstances change.
Common questions
Does every policy provide the same cover?+
No. Insurers can use different definitions, limits, exclusions, excesses, eligibility rules and policy conditions. Compare the quotation and policy documents that apply to the cover being considered.
Will everything described on this page be covered?+
Not necessarily. This page gives general information only. The quotation, policy wording, schedule and endorsements confirm the actual cover and conditions.
What information will I need for a quote?+
The information depends on the product and insurer. We will tell you what details are required for the particular enquiry.
What happens after I make an enquiry?+
Tell us the type of cover you are interested in and provide the requested details. We can then explain the next steps and the information relevant to the available quotation.
This page provides general insurance information and is not a policy document. Cover is subject to insurer acceptance, eligibility and the terms, conditions, exclusions and limits of the policy offered. Read the relevant product and policy documents before deciding whether to proceed.
Ready to make an enquiry?
Tell us which cover you are interested in and we will explain the information needed for the next step.