Professional Indemnity Insurance
If you are providing professional advice or designs to clients, then you will require professional indemnity insurance. Professional indemnity insurance is recommended for consultants and service-based businesses, with tailored products available for lawyers, accountants, engineers, architects, real-estate agents, management consultants and health professionals to name a few. It covers legal costs and expenses incurred in your defence, as well as any costs that may be awarded, if you are alleged to have provided inadequate advice, services or designs that cause your client to lose money. The most common types of claims brought against professionals involve allegations of professional negligence and/or misleading and deceptive conduct.
Professional indemnity insurance provides cover for the risks associated with offering advice, services or designs based on expert knowledge for which you receive a fee or have a professional duty. It protects you from allegations of breaching your professional duty and covers your legal defence, including any awards made against you.
We have access to large insurers and specialist insurers for those hard to place insurance covers. Freeing up your capital by offering and arranging premium funding options is one of the ways that Moynahans Insurance can add value to you and your business and help free up your cash-flow.