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Professional Indemnity Insurance

Does your business offer advice or professional services? Make sure you’re covered with Professional Indemnity Insurance from £7.83 a month.

T&Cs: Based on 10% of customers from January 2017 – June 2017.

What is professional indemnity insurance?

Professional indemnity insurance can help to cover your business if a client claims that the work that you’ve produced for them has been negligent and leads to a financial loss or caused reputational damage to their business. Specifically, it covers the cost of any compensation that you may need to pay to correct a mistake or settle a claim, and any legal fees that you may face when defending your business. So it’s an important cover for businesses that:

  • give advice or tuition
  • provide or handle designs
  • handle intellectual property
  • provide professional services

For more information on professional indemnity, and the cover we provide, take a look at the video below:

What's covered?

With Professional Indemnity Insurance from Direct Line for Business you get:

  • From £100,000 to £2m of professional indemnity cover as standard
  • Cover up to the chosen policy limit
  • Cover for your defence costs, such as lawyers and court costs. These are payable in addition to the policy limit
  • Access to your own specialist claims handler should you need to make a claim
  • The choice between a monthly and annual policy
  • No admin fee for changes made during the policy period
  • Access to our free 24/7 legal helpline
  • Retro-active cover. Covers your business from the date you first bought a professional indemnity policy (provided you keep a record of your previous policies).

What does professional indemnity insurance cover?

Professional indemnity insurance can provide cover for your business should a client lose money or have the reputation of their business damaged as a result of mistakes in any advice, designs or services that you supply.

It will usually cover the legal fees accrued from defending your business against claims. Usually, professional indemnity insurance will also cover the cost of any compensation that’s awarded as a result of mistakes in your work, taking into account the financial loss that your client has suffered.

Specifically, professional indemnity insurance will usually cover you for:

  • Breach of professional duty
  • Any dishonest, fraudulent or malicious acts by former or present employees
  • Libel or slander
  • Unintentional breaches of copyright, confidentiality or intellectual property rights
  • Loss of or damage to documents

How much does professional indemnity insurance cost?

Every industry and profession has its own risks, which means that the cost of professional indemnity insurance will depend on the nature of your business. So getting a professional indemnity quote is the best way to know what the exact cost of cover will be for your business.

Our Professional Indemnity Insurance can cover a wide range of professions, so it’s likely that some of the most common risks that you face in your industry will already be covered. However, we’ll need you to give us a bit more information about your business before we can give you an accurate quote.

Just fill in a few simple details online or give us a call to get your own professional indemnity quote today.

Who needs Professional Indemnity Insurance?

Any business that offers a professional service, gives advice or handles a client’s data or intellectual property may need professional indemnity insurance to cover the work that they do.

We provide cover for a range of professions, including:

Don't see your profession here? We may still be able to cover you. Give us a call on 0345 878 5555

Industry Bodies

that require members to have professional indemnity cover

  • The Chartered Institute of Taxation (CIOT)
  • Association of Taxation Technicians (ATT)
  • Institute of Chartered Accountants in England and Wales (ICAEW)
  • Institute of Chartered Accountants in Scotland (ICAS)
  • Association of Chartered Certified Accountants (ACCA)
  • Chartered Institute of Management Accountants (CIMA)
  • Institute of Certified Bookkeepers
  • Royal Town Planning Institute (RTPI)
  • Architects Registration Board (ARB)
  • Royal Institute of British Architects (RIBA)

Frequently asked questions

About Professional Indemnity Insurance

  • Q What is Professional Indemnity and what does it cover?

    Professional Indemnity insures professionals and businesses against claims made by clients for financial loss or reputational damage due to negligent advice, design or services. The policy covers your legal costs for defending the claim as well as any compensation paid out.

    It specifically also insures you for:

    • Breach of professional duty is when you or your business has a duty of care to a client, but fails to live up to that standard, such as incorrect advice or making a mistake in your work.
    • Dishonest, fraudulent or malicious act or omission of any former or present employee. This includes employees stealing from your clients, and lying or failing to inform you or your clients of detrimental information, as well as revealing confidential client information.
    • Libel or slander, using or producing written, or spoken statements or materials that damages a client’s reputation.
    • Unintentional breach of confidentiality, when data or information provided in confidence is accidentally disclosed to a third party without the client's consent, such as sensitive data being stolen or accidently sent to the wrong party or without permission.
    • Unintentional infringement of intellectual property rights, such as accidentally violating copyrights, patents, and trademarks, includes imitation or passing another’s products or services off as your own.
    • The loss of or damage to documents, which could be damaged, lost in the post or even stolen while in your care. It also covers the cost of possible recovery of documents.
  • Q What type of business or professional does Professional Indemnity Insurance cover?

    If you’re a contractor, freelancer or small business, we cover the following trades/professions:

    • Accountants
    • Construction consultants including architects
    • Estate agents and property consultants
    • Media/marketing consultants
    • IT consultants
    • Business/management consultants
    • Other professions such as driving instructors and photographers 
  • QHow far in advance can I get a quote?

    You can get a quote up to 30 days before you need the cover to start.

  • Q What do I do if I have multiple trades/professions?

    If you need cover for more than one trade/profession, please call us on 0345 878 5555.

  • Q What if I haven't got a business name?

    The Business name field is mandatory only for Limited company or Partnership. You can leave it blank if you are a sole trader.

  • Q What are the excesses for Professional Indemnity Insurance?

    Excesses will vary depending on your circumstances and your individual excesses will be found in the quote page when you have completed the ‘Your Business’ section of the quote process. Or call us on 0345 878 5555.

  • Q What if I don't know the date of a past claim (Professional Indemnity Insurance)?

    If you’re unsure of the date of your claim(s) please get in touch with your current or previous insurer to find out. Or, you can enter an approximate date and then call us on 0345 878 5555 to change your claims details with the correct information.

  • Q What is retroactive cover?

    Retroactive cover means your insurance covers you from the date you first bought a professional indemnity policy, even if this policy was placed with another insurer. This is subject to the fact that you kept a record of your previous policies and maintained continuous cover from policy to policy. The benefit of retroactive cover is that if you need to make a claim for an event that happened before the start of your current policy and the date of the alleged error or omission falls within the retroactive period, this will be covered subject to other policy terms and conditions.

  • Q What is a retroactive date and what does that mean for our policy?

    In most cases, this will be the date you first purchased your Professional Indemnity Insurance policy. The purpose of a retroactive date is to confirm the date from which your past work is being covered.

  • QWhat are the exclusions on this policy?

    Please refer to the policy summary document where we detail the general exclusions. For more details please refer to your policy wording or call our customer services department on 0345 303 1756.

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