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Start your quoteIf clients trust you to look after their finances or fight their legal corner, no matter how much experience you have, you’ll want an insurance policy ready to protect you if the worst should happen. Your work is crucial to your clients’ prosperity, and that brings a certain pressure. Simply Business can protect you from compensation claims by tailoring a policy to your needs, containing public liability, professional indemnity and any other business insurance you need.
Start your quoteAs a business in the finance or legal sector, professional indemnity insurance, for many, will be an essential. It’s an insurance designed for companies that offer advice to clients, handle client data, or deal with intellectual property. It can cover compensation costs if a client sues you for making a mistake in your work. For example, if you were to advise a client incorrectly which resulted in a financial loss, your client could sue you for negligent advice, and your professional indemnity insurance could cover the legal fees and compensation costs.
You can buy professional indemnity insurance as a stand-alone cover or as part of a combined policy with other covers. At Simply Business we offer between £50,000 and £5 million in professional indemnity cover.
Public liability insurance is likely to be important too, as it can cover you for injury or damage claims made by a member of the public. For example if you spilt coffee over a client’s laptop while they were meeting you in your office, they could demand money for the repair or replacement of their computer.
You might want to consider other business covers too, including employers’ liability insurance if you’ve got any staff and business equipment insurance if you use any equipment that’s essential to the running of your business.