Professional Indemnity
If you are in a business or profession where you advise others, you may find yourself exposed to claims for breach of your professional duty of care.
Professional Indemnity Insurance is a key cover for professionals. It covers you for the legal costs in defending actions brought against you for any breach or failure in course of your work that could cause financial loss to another person.
When buying Professional Indemnity cover in Ireland you will need to understand the way claims are made on these policies, the importance of maintaining unbroken cover and also your retroactive date.
Our specialist brokers will help you find the right market for your Professional Indemnity insurance. Get us working on your case today!
Overview
Professional Indemnity covers you for the legal costs in defending actions brought against you and the costs of the award associated with the action. While many cases brought against professionals fail, the cost of defending these claims is significant.
What's covered?
- Professional negligence - such as making a mistake in a piece of work for a client or giving them poor advice
- Unintentional breach of confidentiality - such as sharing sensitive client information without permission
- Unintentional breach of copyright - such as using an image on your website without permission
- Defamation and libel - such as making false comments about a competitor or client that damage their reputation
- Loss of documents or data
- Loss of money or goods (for which you are responsible)
How Does it Protect Me
Covers Legal costs for range of claims such as:
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Libel/ Slander
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Negligence in professional duty
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Breach of confidentiality
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Errors or omissions
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Loss of documents / data
FAQs
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What Limit should you choose?
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What’s the difference between professional indemnity and public liability?
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What is a Claims-Made Policy?
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What is a Retroactive Date?
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Why Choose Brady Insurance?
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What happens after you Purchase your policy ?
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What is Occurence Based Cover?
Examples of Claims
- If you are sued to rectify an extension built from a flawed design
- If you are supervising a project and are found negligent giving rise to financial loss
- If you design something and your design is fundamentally defective giving rise to property damage or loss
- If you are an advisor and give advice having not gathered adequate or correct information, and there is a financial loss arising from your advice
- If you fail to diary an important milestone or to follow up on a serious matter, which is a breach of your professional duty.
- If you are sued for copyright infringement and Intellectual Property Theft
- If your client claims your work is sub-standard & takes an action against you
- If you are sued for not meeting your brief
- If you file “official paperwork” late arising in a loss for your client
- Professional Negligence is alleged without any grounds but ties the firm up with defending the claim
Who needs Professional Indemnity?
Our Commercial Insurance Team
Anna Szymkowska
Commercial Insurance Broker
- Carrick on Shannon
- 071 9672222
