Professional Indemnity Insurance is designed to protect your legal responsibilities to Clients and possibly third parties, arising from any form of professional advice, design or specification that you provide.
Failure to take out cover would be potentially disastrous to any firm, especially as claims in this area are by their nature often for substantial amounts.
Features that reduce the risk and therefore your premium include; good risk management, reviews of your employees, procedures and clearly defined contractual responsibilities. Quality time spent in these areas may substantially reduce your exposure to a claim.
The cover is arranged on a 'claims made' basis, which means that any claim made against you in the period of insurance will be dealt with by the current insurer. Therefore, it is important that you have a good insurance broker to ensure that you are reminded about renewal in good time so that cover doesn't lapse!
Where professional indemnity is compulsory, governing bodies' requirements have generally resulted in 'market standard' policies, such as the RICS wording negotiated for surveyors and likewise the Law Society wording for solicitors. The widest policy wording is on civil liability basis, effectively covering your full legal exposure.
Whatever your profession, Daulby Read Ltd has the relevant expertise and partners with whom to provide competitive solutions for your individual needs. We have been actively seeking business in the Chester and North Wales areas and would indeed welcome enquires from anywhere in the UK.
Please call us on 01244 311033 to discuss you particular needs, or contact us and we will get back to you. We look forward to: -
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