Professional indemnity insurance

Professional indemnity insurance covers your business for financial loss including legal costs and expenses incurred in your defence, as well as any damages or costs that may be awarded, if you are alleged to have provided inadequate advice, services or designs that cause your client to lose money.

Any sole trader or business who provides advice or skills and knowledge as part of their service, should consider professional indemnity insurance. Professional indemnity insurance protects individuals and businesses against claims brought against them for financial loss due to negligence, incorrect advice, or mistakes.  Compensation and legal costs incurred can be financially crippling to small businesses and sole traders.

If yours is a professional service where you provide a service, advice, or designs for a client, you can be liable to claims made against you for financial loss from potentially inadequate work that you have provided. Professional indemnity insurance provides individuals and businesses with cover against compensation and legal costs incurred as a result of negligence, incorrect advice, or mistakes made.

Professional indemnity insurance may not be a legal requirement but is an essential insurance to protect your business.

A Typical Package

A typical Professional indemnity insurance package will include the following covers:

Negligence or breach of duty of care

Negligence or breach of duty of care covers you for making a mistake in a piece of work for a client or for giving them poor advice.

Infringement of Intellectual Property rights

ntellectual property insurance covers the costs of defence of an intellectual property infringement suit and any resulting settlements or judgments.

Breach of confidence

Breach of confidence insurance cover, covers you if a client takes legal action against you following a breach of confidentiality to a third party

Defamation cover

Defamation insurance cover, covers you if a client takes legal action against you following a successful lawsuit for defamation of character

Make an Enquiry

Frequently Asked Questions

We have tried to answer some of the most common questions we get asked below.

What is a retroactive date on a professional indemnity policy?It’s the start of the period for which your company has held uninterrupted professional indemnity cover. It is important that this date is provided to your current insurers to ensure that they accept any liability for past work provided.

Is professional indemnity cover compulsory?No, but very often governing bodies will stipulate it, for example RICs and chartered accountants.

What is the basis of settlement for a professional indemnity policy?Professional indemnity policies are what is known as a ‘claims made’ basis. I.e. any claim which comes in is picked up by the policy in place at the time the claim is made not when the actual work was undertaken

How is my professional indemnity premium calculated?This is generally calculated by fee income/turnover in the business plus the level of indemnity level required.

‘What people are saying’

M Bailey – Director of Asset Managing and Plant and Machinery Valuation Co

Allied Insurance have managed our insurance program for more than seven years, ensuring we get the right insurance at the right price. More than this, they provide us with expert advice and guidance when we need it, full annual reviews of our business insurance requirements and an experienced team available when we need them. An excellent combination.

G Clarke – Director at Precision Engineering Co

We have been with Allied since our business was established in 2002. Since then our Company has grown considerably and Allied have continued to adapt or insurance policies in line with Company growth and changes. They continue to provide excellent service and advice with day to day dealings and have been of invaluable assistance in the event of claims.

K Ramsay – UK Timber Importers

Allied have been our brokers for over 15 years over which time they have remained extremely competitive and have continued to provide an excellent level of service to suit our growing business’s needs. Having suffered a large claim recently the advice provided to us was invaluable in achieving the final settlement from insurers. We would highly recommend to any business.

K Thompson – Director – Large Electrical Contracting Co

We have worked with Allied now for several years and due their expertise and friendly service. We have gradually placed all of our company insurances with them. For us they are our “one stop Shop” and take the hassle away from scouring around looking for a better deal. Allied always provide a fair and Reasonable deal.

S Tabern – Director at Security System Installation Co

Allied Insurance Services Limited have been the Insurance providers for Tate Security Technology Limited for a number of years and have always offered professional advice, provided prompt responses to our company’s changing needs and were able assist and advise us in the event of claims. We find them both friendly & courteous to deal with and competitive within the market.

Catherine Jones

For more than seven years Allied have managed our insurance program ensuring we get the right insurance at the right price. They provide us with expert advice and guidance when we need it, full annual reviews of our business insurance and an experienced team available when we need them.

Request a Callback

If you would like us to give you call please provide us with the information requested below.
We endeavour to reply to all queries within one working day.




    Read our full Privacy Policy