Professional indemnity
When what you sell is judgement, mistakes can be insured too.
- Retroactive cover
- Negotiable
- After ceasing practice
- Covered
- Professional body policy
- Supplemented
Architects, engineering firms, advisory practices, consultancies, clinics: professions where the damage is caused not by a machine but by a report, a calculation or a piece of advice. Professional indemnity covers the financial loss your error causes a client, and many professional bodies make it compulsory.
- Errors and omissions in professional practice
- Pure financial loss to clients
- Legal defence and bail bonds
- Retroactive cover for past work
- Liability for associates and employees
- Extended reporting period after retirement
What you need to understand about a professional policy.
Choose a scenario and see when the policy responds.
Covered. The claim is made while the policy is in force.
- Claims made
- The policy covers claims made while it is in force, even if the error occurred earlier, provided the work falls within the agreed retroactive period.
- Retroactive cover
- Period before the policy starts during which work carried out is covered.
- Extended reporting period
- The time after the policy ends or the business ceases during which claims are still accepted.
- Pure financial loss
- Financial loss suffered by the client without property damage or bodily injury, typical of a professional error.
- Excess
- The portion of each claim borne by the professional.
Every profession has its own risks.
Design and site supervision.
Calculation or supervision errors that come to light years after handover.
- Broad retroactive cover
- Cover for site supervision
- Coordination with ten-year latent defects insurance
Deadlines and advice.
A missed tax deadline or incorrect advice causes direct financial loss to the client.
- Pure financial loss
- Loss of documents
- Client data protection
Medical practice.
For clinics, practices and healthcare professionals, with specific medical malpractice cover.
- Medical malpractice liability
- Professional disqualification
- Criminal defence
Common misconceptions.
Nearly every surprise with this policy comes from the same three beliefs. Better to clear them up before signing, not when the claim arrives.
“My professional body's policy covers everything.”
It usually has shared limits and general terms. A supplementary policy is often advisable.
“Once I retire, nobody can claim against me.”
Claims can arrive years later. That is why the extended reporting period matters.
“I will take it out when I have a problem.”
Circumstances known before the policy is taken out are excluded.
Professional body policy or individual policy.
| Professional body policy | Individual policy | |
|---|---|---|
| Limit of indemnity | The same for all members | Tailored to your activity |
| Retroactive cover | Subject to the professional body's terms | Negotiable |
| Activities covered | Those common to the profession | The ones you actually carry out |
| Extended reporting period | Limited | Customisable |
| Typical use | Minimum baseline | Top-up or replacement |
Often the best approach is to combine both. We review your professional body's policy before proposing anything.
Frequently asked questions.
What is retroactive cover?
Cover for work carried out before the policy was taken out, provided the claim is made while the policy is in force. It is decisive, and not all policies offer it to the same extent.
Am I already covered by my professional body?
Many professional bodies include basic cover that usually falls short on limits. We compare what you already have with what you need, without duplication.
Does it cover claims after I retire?
Yes, with an extended reporting period after you cease practising. This matters because limitation periods are long.
Your judgement is your business. Let us protect it.