In today’s increasingly litigious society, professional indemnity insurance has become a must-have component of any business plan.
Professional indemnity insurance helps protect businesses and individuals from the costs of damages which might follow breaches of their professional duties.
And where once commercial liability insurance was perhaps considered the domain of doctors, lawyers, accountants and similar professions, today it should be a priority for anybody who runs their own business, consults for other businesses or works as a freelancer. Nobody in business is immune from the threat of legal action.
Whether you’re part of a national organisation, or a small business working from home, you can face claims from unhappy clients for mistakes which might be your fault or completely out of your hands. There are also those unfortunate instances when malicious people make false claims against you which, even though untrue, can damage you professionally and financially.
Products such as statutory liability insurance and management liability insurance can diminish the financial strain of legal action against you or your business and pay your legal costs.
At AB Insurance Solutions, our commercial insurance brokers can help provide the cover you need.
Along with coverage for your business and commercial property, professional indemnity should be high on your list of insurance priorities.
For more information, contact AB Insurance Solutions.
Refer to your current policy schedule for sums insured, and to the insurer’s product disclosure statement (PDS) for inclusions and exclusions to your current policy.