In all walks of professional life, mistakes happen. No matter how careful you are, there is always the possibility that an error, no matter how inadvertent, could occur and end up costing you.
As Master Builders, you regularly offer advice to your customers on various aspects of their projects. Whilst you may have good intentions on giving sound advice based on your experience in construction, there are occasions when your client may disagree. If you or any of your employees are deemed to have provided inadequate advice or shown signs of negligence, that causes injury, damage or financial loss, you could face legal proceedings.
To give yourself peace of mind for such an eventuality, you can take out Professional Indemnity insurance cover. This policy cover can take care of your legal costs and expenses (subject to terms and conditions) in defending any claims made against you and cover any compensation required to rectify the mistake.
According to ProfessionalIndemnity.co.uk, it is estimated that 1.5m British businesses collectively spend over £3billion per year on premiums. The Design and Construction industry features in the top 5 of those considered at higher risk of work causing professional indemnity insurance claims.
The risk to companies of all sizes has grown immensely in recent years. As society becomes more litigious and the openness of legal firms pursuing action has increased, there is a rise of disputes being settled in court. The results of this can have a devastating impact on your firm's finances if you’re not covered.
Protect yourself against potential claims for:
- Financial Loss
- Providing incorrect information
Contact our friendly team today on 01353 652777 to see how we can help tailor a policy to suit your individual needs.