Professional Indemnity Insurance protects professional businesses against their legal liability towards third parties for financial compensation arising from their professional negligence or that of their employees or sub-consultants.
Professional Indemnity Insurance arranged by MCM can protect your business from financially crippling and often reputation-damaging claims by dissatisfied clients. Even the most respectable companies can find themselves in dispute with a client over a mistake.
Professional Indemnity Insurance works in a number of ways. It will cover you if you make a mistake in the professional services you have provided should this lead to a dispute with a client. If the dispute becomes complicated, your insurer could defend your claim – right through to the High Court, if necessary. If you lose, the policy will cover you for any damages you then become liable for, subject to the level of cover
It will also cover the cost of rectifying any mistake on your part, which will potentially help you avoid a larger claim being made.
When deciding on the amount of Professional Indemnity cover to have you should consider the value of the work you are doing for your clients and the potential financial impact on them should it go wrong.
For a range of quotes or more information get in contact here or call us on 0161 786 3150.