No matter how professional and careful your business is, mistakes can happen, and when they do you want to have adequate insurance cover in place to protect your livelihood.
Professional Indemnity insurance is able to help protect your company from the possible legal expenses which pose risks to all businesses in a range of sectors and roles.
A Very Real Threat to Businesses
Despite the government trying to reduce the popularity of claiming compensation, this type of legal problem still poses a serious risk to many traders.
Litigation claims can spring up at any time whether you are dealing directly with the public or not. No industry is safe and some recent cases highlight this:
- A well-known car manufacturer had to pay out after one of their customers complained that she had been misled into believing the hybrid car could achieve 50 miles per gallon, when in fact the lady could only get 41 or 42 miles
- A popular online film and television streaming company is facing a lawsuit after shareholders feel they have been misled
- A top beverage company recently purchased advertising from a marketing consultant they had hired. This consultant had used a picture as part of his advert which he was found to have not sourced through the correct channels or to have obtained permission for us. The woman in the picture saw herself and claimed against him
These are just a few of the types of litigation claims that a business, whether large or small, can face.
Get Protected Against Legal Action with Professional Indemnity Insurance
Professional Indemnity Insurance covers your business against the financial fallout of a variety of damaging claims that could be made against you or your company at some point.
From negligence and defamation to loss of data and infringement of intellectual property rights, there are plenty of bad fish that can catch out even the most vigilant enterprises.
If you are discovered to be accountable for any accidents or damage to any person whether it was accidental or not you can be sued and these cases can cause the death of your business if you are not prepared.
Whatever industry your business is in, protection plans can be specially designed by experts at The Insurance Octopus to meet your company’s specific needs.
To discover more information about our range of comprehensive Professional Indemnity Insurance from a variety of leading UK insurers, get in touch with our experts today.