Professional Indemnity Insurance Broker
Running a business where you provide advice or design framework?
Experienced professionals can make mistakes no matter how long they have been working in an industry/profession. A basic misunderstanding, an overlooked detail, or a piece of advice that doesn't work out as expected can easily become a costly legal battle.
Professional Indemnity Insurance is created to protect you from these kinds of situations. At JPM Broking Services, we make sure that getting the right protection is simple, clear, and tailored to your needs.
Professional Indemnity Insurance services
Professional Indemnity Insurance, frequently called PI Insurance, offers protection if a client claims your work, counsel, service, or design resulted in a financial loss. Regardless of the legitimacy of the claim, you might still need to defend yourself, which could be costly.
PI Insurance aids in covering the expenses of defending your company, along with any damages you may be obligated to provide. If your work entails giving professional advice, developing designs, managing confidential data, producing intellectual property, or providing specialised services, PI Insurance delivers vital peace of mind and fiscal security.
Who Needs Professional Indemnity Insurance?
Professional Indemnity insurance used to only be required for Accountants, Architects, Solicitors, Surveyors and for companies operating within the Financial Service Industry such as Financial Advisors and Insurance Brokers. Nowadays, there is a far greater need for PI and many more industries demand it.
You should strongly consider PI Insurance if your business:
- Provides professional advice or consultancy
- Designs, plans, or specifies technical work
- Handles client data or intellectual property
- Offers creative, marketing, or digital services
- Works in finance, HR, IT, engineering, or architecture
- Operates as a contractor or freelancer
Many industries and governing bodies require PI Insurance as mandatory, especially when tendering for contracts or joining professional associations.
What Does Professional Indemnity Insurance Cover?
Based on the type of business you run and the policy you select, Professional Indemnity Insurance may protect against many different hazards.
Common cover includes:
- Negligence, errors & omissions: mistakes, oversights, or poor advice that leads to client loss.
- Breach of professional duty: failing to deliver services to expected professional standards.
- Loss or damage because of incorrect advice: e.g. a consultant’s faulty recommendation that costs a client money.
- Intellectual property infringement: for example, using copyrighted material without permission, or unintentional misuse of a client’s or third-party IP.
- Defamation or libel / slander: if written or spoken statements in your work cause a client or third-party reputational damage.
- Breach of confidentiality / data handling mistakes: accidental sharing of private or sensitive client information.
- Legal defence costs & compensation payouts: including solicitor fees, court costs, settlements or awards up to the policy limit.
That said, PI Insurance is not a catch-all, it typically doesn’t cover deliberate wrongdoing, criminal acts, property damage or personal injury (these are usually covered by other policies, such as public liability or employers’ liability).
Why Having PI Insurance Matters
Professional Indemnity Insurance offers valuable financial protection by covering the potentially significant costs of legal defence and compensation. Knowing you have this safety net helps reduce stress and allows you to focus on your work rather than worrying about “what if” scenarios.
Furthermore, it boosts your trustworthiness, since numerous customers like, or even demand, that you possess this kind of coverage before commencing a task. With suitable professional indemnity protection secured, you can open doors to bigger contracts, secure in the awareness that your enterprise is safeguarded if an issue arises.
Why Choose JPM Broking Services?
At JPM Broking Services, we are proud to provide clear, customised guidance, replacing complicated insurance jargon with simplified explanations. We try to learn about your business and the degree of risk involved so that we can suggest the most appropriate amount of coverage.
As independent agents, we collaborate with top UK insurers, which enables us to find extensive cover at affordable premiums.
Our approachable, personal style means you are always well-informed, and our streamlined system guarantees you can obtain a tailored quote swiftly and with little trouble.
When Should You Get PI Insurance?
The best time to secure Professional Indemnity Insurance is before you begin offering services to clients.
Because PI policies typically operate on a “claims-made” basis, your cover needs to be active both when the work is completed and when a claim is made, which could be months or even years later.
If you decide to stop trading or move into a different line of work, it may still be wise to arrange run-off cover to protect you from any potential claims arising from past work.
Frequently Asked Questions
Start Protecting Your Business Today with PI Insurance
Whether you are new to insurance or want to reassess your current coverage, JPM Broking Services can assist you in obtaining the appropriate Professional Indemnity Insurance.
Our approachable team is available to help you assess your exposures, set up suitable protection, and make certain you are defended with assurance and understanding.
Local Professional Indemnity Insurance Broker
Contact Your Local Insurance Broker
If you're interested in speaking to one of our advisers, please do not hesitate to get in touch via our contact form.