Professional Indemnity Insurance
Professional indemnity insurance, also known as PI insurance, Professional Liability insurance or Indemnity Insurance, can help protect you if claims are brought against you by a client due to a problem with work you have done for them.
A professional indemnity policy will offer cover for compensation you may need to pay to correct a mistake or cover any costs due to negligence (including your own initial defence costs), such as giving incorrect advice or making a mistake in your work.
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Professional Indemnity Insurance
Professional indemnity insurance, also known as PI insurance, Professional Liability insurance or Indemnity Insurance, can help protect you if claims are brought against you by a client due to a problem with work you have done for them.
A professional indemnity policy will offer cover for compensation you may need to pay to correct a mistake or cover any costs due to negligence (including your own initial defence costs), such as giving incorrect advice or making a mistake in your work.
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What does Professional Indemnity insurance cover me against?
- Claims from clients for financial loss
- Costs of defending third party/client claims
- Third Party claims for financial loss
- Compensation awards made to clients/third parties
- Legal fees (1st & 3rd party), injury awards, resultant business interruption / financial losses
You may need professional indemnity insurance if you;
- provide advice to your clients
- handle data belonging to a client or business
- are responsible for a client’s intellectual property
- provide a professional service and could be challenged on your work. You may feel confident in the quality of your work, but any small business is vulnerable to a claim of negligence when professional advice, design, certification, specification or services fail to meet a client’s expectations and cause financial loss
Why choose Maher & Richardson Ltd. Professional Indemnity Insurance?
- We offer a range of industry-specific policies to suit the risks you face in your profession
- We can advise you in choosing from several limits of professional indemnity insurance cover up to €6.5 million each claim with excess layers of cover available for higher limits
- We deal only with A-Rated financially secure Insurers
What does Professional Indemnity insurance cover me against?
- Claims from clients for financial loss
- Costs of defending third party/client claims
- Third Party claims for financial loss
- Compensation awards made to clients/third parties
- Legal fees (1st & 3rd party), injury awards, resultant business interruption / financial losses
You may need professional indemnity insurance if you;
- provide advice to your clients
- handle data belonging to a client or business
- are responsible for a client’s intellectual property
- provide a professional service and could be challenged on your work. You may feel confident in the quality of your work, but any small business is vulnerable to a claim of negligence when professional advice, design, certification, specification or services fail to meet a client’s expectations and cause financial loss
Why choose Maher & Richardson Ltd. Professional Indemnity Insurance?
- We offer a range of industry-specific policies to suit the risks you face in your profession
- We can advise you in choosing from several limits of professional indemnity insurance cover up to €6.5 million each claim with excess layers of cover available for higher limits
- We deal only with A-Rated financially secure Insurers