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Professional indemnity insurance provides cover to professionals for claims brought against them alleging professional negligence. This is also known as ‘PI insurance’.
A professional Indemnity policy covers an insured against loss arising from any claim for his or her breach of duty - usually towards a client - either under a contract or in tort. This may be due to the insured's neglect, error or omission occuring in the course of providing advice to a client.
Types of Professional Indemnity Insurance
Indemnity is so called because it indemnifies you against your loss i.e. compensates you for the money you have pay to the injured party. There are different types of cover:
Negligent act, error or omission: loss/circumstances incurred as a result of negligent acts, errors or omissions in carrying out your business
Breach of duty: loss arising from any claim for breach of duty as defined by your profession and/or specific terms of contract.
Civil liability: loss due to breach of contract, libel and slander; often linked to Employers Liability (EL) and Public Liability (PL).
The Thomas Miller offering for Professional Indemnity Insurance
Professional Indemnity Insurance (PI) is typically obtained by business professionals who provide advice to their customers. Thomas Miller manages several insurance companies who between them provide bespoke professional indemnity insurance to a wide range of professions. We have an unrivalled depth of knowledge and experience, meaning that the professionals we insure can have absolute confidence that their interests will be served comprehensively, professionally and compassionately if a client brings a claim against them.
Thomas Miller offers a diverse range of industry-specific policies, which are tailored with first-hand knowledge to protect you against the claims made in your sector.
Are you covered?
Patent and Trade Mark Attorneys (95% of UK patent & trade mark attorneys are insured with us.)
Charities (created in consultaton with the Charity Finance Directors’ Group.)
Transport Industries (covering maritime and shipping, aircraft industry and rail professionals.)
Shipping (freight handling and logistics sectors)