Professional indemnity insurance protects you and your business from the costs of compensating a client if you make a mistake in a piece of work for a client that causes them financial or reputational loss.

When you’re looking for professional indemnity insurance, it’s not always easy to get the guidance you need to find a policy that’s right for you. Thats because it isn’t like a general commercial insurance policy; and therefore not all ‘general’ insurance brokers have the expertise to advise you correctly.

Even if you’ve done nothing wrong, the cost of defending yourself against claims for negligence or mistakes that leave your client out of pocket can be very high.

• Negligence – if you provide incorrect advice or make a mistake
• Breach of confidence – sharing (commercially) sensitive information without permission
• Lost or damaged documents, money or goods – if you lose money, or lose/damage documents or goods whilst in your care
• Defamation – If you produce or support libellous comments
• Breach of copyright – Limited cover is available if you infringe copyright, trademarks or intellectual property (see intellectual property insurance for our full cover option)
• Employees – If your employee causes a loss for a client

For more information about general Professional Indemnity Insurance click here

A negligence-based policy provides coverage for breach of duty of care by way of negligent act error or omission. There is no coverage for claims based on breach of contract or statute law.

A Civil Liability policy does not set boundaries (other than the exclusions) as to the nature of the wrongdoing. It may encompass more than just negligent acts errors or omissions and include breach of duty of trust, conflicts of interest, breach of statute law and defamation. These may not necessarily arise from negligence and therefore may not be covered under a negligence policy.

Most civil liability policies do however contain a greater number of exclusions so it is extremely important to understand the extent of such exclusions and seek advice from a specialist PI insurance broker.

Yes – Once your cover has been confirmed by our Advisors you will be issued with your insurance schedule and documentation.

Yes.

Professional Indemnity Insurance works differently from general commercial insurance policies. It provides cover for your past works, but it is essential that you keep a suitable level of coverage either based on your past projects/clients or based on your contractual commitments.

Yes.

Run Off coverage applies where a company ceases to trade, sells its assets or merges with another entity. The policy provides coverage specifically for any acts occurring prior to the date on which the company/entity ceased trading, sold its assets or merged.

It is common also where individual directors of companies or partners of professional firms have retired or relinquished their positions.

DWF LLP provides fast, efficient telephone assistance for one-off queries relating to the conduct of your business. The aim of the service is to point you in the right direction in relation to matters of concern.

It is not a substitute for full legal advice from your own solicitor. Common enquiries relate to:

• Construction problems in the construction industry
• Problems encountered on site
• Procedures for pursuing/defending claims
• Copyright issues
• Party Wall Act issues
• Certification issues

Legal Assistance & Claims Handling helpline*: 0161 603 5394

DWF LLP
Scott Place
2 Hardman Street
Manchester
M3 3AA

*(This helpline will not be able to assist with your insurance requirements. Your insurance requirements should be directed towards MFL on 0161 237 7738)

An additional benefit to your PI policy is a vetting service to assist you in establishing whether non-standard appointment agreements and/or collateral warranties impose obligations.

• The advice is free
• The advice you receive is from our own experienced and qualified team from the outset
• A five working day response
• A simpler ‘traffic light’ comments and amendments system

Accessing the service

Simply email your request to warranties@mflinsurance.com or call 0161 237 7738 to discuss your requirements.