Professional Indemnity insurance

Protection against errors, omissions and accusations of negligence

Giving advice for a living, people take you at your word. But we all have off days. Professional Indemnity Insurance is there for you when you make a mistake for which you are sued or investigated (or both). It offers a safety net for your future prosperity. 

With Howden, you can be assured your policy has been worded by someone who truly understands your industry – and the complex risks you face.

What does a Professional Indemnity (PI) insurance policy cover?

The policies we arrange all share:
 

Worldwide cover

Even if the lawsuit comes in a foreign jurisdiction, you will be able to mount a competent defence with lawyers experienced in both the sector and that geographical territory’s legislative arena.

Includes non-remunerated work

You need to have cover in place for advice given on a more informal basis, for which you were not paid. We’ve seen claims come in from advice given casually between friends, over a drink in a bar. 

Full retroactive cover

Including past wrongful acts, errors and omissions. It’s really important that your cover goes all the way back to your company’s incorporation date, with no breaks.

You could be held liable for advice you gave a long time ago – buying policies online can easily leave gaps in coverage and potentially financial exposures that could come back to haunt you. 

We can also build in the following coverage extensions:

• Unintentional infringement of intellectual property
• Restoration costs relating to lost documents
• Cover for liability caused by wrongful acts of subcontractors, consultants or agents.

Cyber insurance 

Buying a cyber policy is one of the most cost-effective risk management options and can result in significantly reduced spend on more expensive Professional Indemnity cover.

Howden are experts in insurance policies that provide a proactive tactical response to an incident. When an attack happens, we send technical, legal and public relations support with immediate effect. 

Find out more about cyber here.

Negligent or not, allegations need to be dealt with

A strong defence is vital even when allegations are unfounded – your future prosperity depends on it. You will need to assemble an experienced legal team at considerable expense - and even then, you may be liable for damages or need to settle out of court.

People who sell themselves as having a certain skill set or expertise put their careers on the line every time they meet a client. When you take action on their behalf, you risk being sued.  

Giving advice for a living can be perilous – you are only as good as your last client meeting. That’s why complete confidence in your insurance is as important as confidence in your own abilities.