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What is Professional Indemnity Insurance?

Wondering what professional indemnity insurance actually is? Our guide explains all.

Nixon Williams is proud to work with Hiscox Insurance. We exclusively offer our clients a 15% discount on the purchase of a business insurance product. Prices start from just £25 a month (plus insurance premium tax), for terms and conditions visit here. Hiscox has been named Best Small Business Insurer for eight years running (Source: Start Your Business Magazine)


When you run your own business, you want to make sure that you have appropriate insurance in place to cover you for any costs you might incur if a client were to pursue you for a loss made as a result of your actions. As a contractor, even the most skilled professional can make a mistake, but knowing that you aren’t leaving yourself open to claims from clients can really set your mind at ease.

Delays, miscalculations or unexpected problems can all cause a client to lose money, so having professional indemnity insurance in place will ensure that you are not hit with a huge bill. This means that you can have peace of mind for a very reasonable fee, and any potential client will also know that they will be able to recover any sums lost which will reassure them that you have every avenue covered.

Whenever a client relies on the advice and expertise of a professional, they are placing a considerable degree of trust in the people they hire. Having professional indemnity insurance is vital for anyone who is likely to be doing any of the following:

  • Holding any responsibility for intellectual property belonging to your clients
  • Providing professional advice to clients
  • Handling data belonging to clients
  • Performing any role which has the potential to leave you open to a claim for professional negligence.

There are a number of reasons why a client may feel as though they have a case, and knowing that you have appropriate insurance in place is reassuring for both parties. With policies to cover a range of eventualities, including a retroactive cover which will provide protection for work you have carried out before the policy was taken out, you can find one which will suit the type of work you do and the industry in which you operate.

For anyone who could be affected by a claim against them from a client, professional indemnity insurance is a must-have in order to protect yourself and your clients and so that you can have peace of mind and concentrate your attention on your work.

For you professional indemnity insurance quotes are available online or by phone, call Hiscox on 0800 116 4618 or visit here.