PROFESSIONAL INDEMNITY INSURANCE
Professional indemnity insurance (PII) provides cover for legal costs and expenses involved in defending a claim, as well as compensation payable if you are found to be responsible for causing financial loss to your client because of negligent advice, services or designs you have provided.
There are professions that must have PII in place in order to conduct their business; this is a compulsory condition required by their regulatory bodies. Examples of such professions are accountants, architects, IFAs, insurance brokers, solicitors and surveyors.
Other professionals are required to have PII as part of a contractual obligation, whilst many choose this cover because of the protection and security it provides if their advice or service delivered fails to meet a client's expectations. Having PII in place also gives peace of mind to prospective clients.
At Bluefin Professions, we understand every profession has unique insurance requirements. Because of our extensive knowledge and understanding of the industry, we can identify the most appropriate professional indemnity insurance solution for your business.
As a market-leading broker, we have access to many specialist insurers, so we can select the right cover to suit your business needs and negotiate competitive premiums on your behalf.
What's more, the relationships we have with respected industry bodies make us an ideal partner, helping to alleviate daily pressures and challenges you face. This could be making sure you’re up-to-date with changing regulations or keeping pace with technology changes in your industry.
There are many considerations to take into account when purchasing professional indemnity insurance (PII). It's essential you work with an insurance broker that specialises in the field to ensure you get the right advice.
The breadth and amount of cover you require will be determined by factors such as: