Professional Indemnity Insurance


If you are in business and you are looking for Professional Indemnity Insurance, what do you actually know about this type of cover?  Has anyone explained what it provides insurance for, why you need it and has anyone discussed with you what profession or trade you are in and how you carry out your work?  At Prizm Solutions we provide bespoke Professional Indemnity Insurance coverage for a great many business trading in our local area of Tamworth in Staffordshire and Sutton Coldfield in the West Midlands.

So, our first question is… what does Professional Indemnity (which is sometimes called PI Insurance) actually cover you for? At its simplest, PI insurance covers you against the cost of compensating clients for loss or damage resulting from negligent services or advice – or alleged negligent advice.

Did you know that compensation claims can be made against you even if you gave your advice for free?

Unlike most types of insurance, Professional Indemnity Insurance is underwritten on a ‘claims-made’ basis which means that the policy only operates whilst it is in force. As soon as the policy lapses then there is no cover in force whatsoever even if the incident originally occurred when the policy was live. Run off cover if you have closed your business is therefore another aspect of PI Insurance which we can help with.

Why You Need Professional Indemnity Insurance

Certain professional bodies in the Accountancy, Surveying, Legal and Financial sectors for example – insist that their members have Professional Indemnity insurance and will also usually insist on certain specified levels of coverage.

Contractually certain clients (and especially Local Government and other public sector bodies) will insist you hold certain levels of cover before they will deal with you, but for everyone else, there is no set limit – you can choose how much cover you want! The following link might help you but to know for sure please give one of our trained insurance professionals a call.  You can find our contact details here, just contact us.

Professional Indemnity Insurance for All Types of Business

It is increasingly common for all types of businesses to now purchase Professional Indemnity and we can cover over 100 separate trades and professions, and just to prove it here is (nearly a complete) A to Z of professions we can help. Forgive us if we’ve missed any – but if we have, please feel free to call us and put us to the test!

  • A Accountant / Architect / Author / Advertising Agent / Archaeologist
  • B Book Keeper / Business Consultant / Bailiff / Building Contractor / Beautician
  • C Copywriter / Court Reporter / Complimentary Therapist / Cartoonist
  • D Database Consultant / Direct Marketer / Driving Instructor / Debt Collectors
  • E Electrical Contractor / Estate Agent / Export Consultant / Energy Assessor / Embalmer
  • F Food Industry Consultant / Fire Safety Consultant / Funeral Director / Financial Adviser
  • G Graphic Designer / Genealogist / Graphologist / Goldsmith
  • H HR Consultant / Health & Safety Trainer or Consultant
  • I Interim Manager / Inventory Clerk / IT Consultant / Intruder Alarm Installers / ISP
  • J Justice of the Peace / Joiner
  • L Landscape Gardener / Lift Engineer / Life Coach / Laboratory Services
  • M Marketing Consultant / Management Consultant / Managed Service Provider
  • N Noise Consultant / Non Destructive Testing / Networking / NVQ Training
  • O Outplacement Services / Outdoor Pursuits / Office Designers
  • P Photographer / Portable Appliance Tester / Private Investigator / Publisher
  • Q Quality Assurance Consultant / Quality Control
  • R Relocation Consultant / Recruitment Consultants / Risk Management Consultants
  • S Secretarial Services / Security Guarding / SEO Consultants / Sports Agents
  • T Translator / Traffic Consultant / Tachograph Analyst / Telecommunications / Tattooist
  • U Ultrasonic / Underpinning Engineers
  • V Virtual Assistant / Vibration Consultant / VOIP
  • W Wildlife Consultant / Website Design / Will Writers / Wellbeing Therapy
  • Y Yacht Broker
  • Z Zoologist

When you speak to one of our team you will notice a difference straight away.  First of all we are not like other insurance brokers.  We will take the time to understand what you do and how you do it and we will only ever suggest a Professional Indemnity Insurance policy that is right for your specific requirements.  We won’t just make an off the shelf recommendation.  Also, most of the time we don’t take commission from insurers, instead we prefer to charge a fee, which is more transparent and we think this is a more ethical way to do business.

If you own a business or are a director of a business operating in and around Tamworth, Lichfield or in the Staffordshire area you can’t afford not to get expert advice from Prizm Solutions whether this is on Professional Indemnity Insurance or any other business insurance.  If you are not sure, we are here to help.  Please just ask.  Contact us to arrange a call back or send us an email if you would like a quotation.

Would you like a quote or to find out more?

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