Professional Indemnity Insurance

Protection for professionals & professional service firms

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Quotes for professional indemnity cover

A wide range of covers designed to protect professionals in their trade

Professional Indemnity insurance, or PI insurance, is an important cover and will protect you and your business against any financial loss that may be caused as a result of bad advice or a mistake made in your work. Our PI cover will ensure you are able to defend yourself should a claim for negligence, dishonesty or defamation, among others be made. The policy would also protect you against unfounded allegations that may arise as a result of your business conduct or consultations.

Additionally, if you have had continuous Professional Indemnity insurance in the years previous to taking out a policy, we can also ensure you have retroactive cover in place. This will protect you against any claims that may be made against you for previously completed work when insured by a different provider.



Types of professionals we cover



We provide professional indemnity insurance for various industries including Project Managers, Business Consultants, Consulting Engineers, Management Consultants and Marketing Media Consultants among many others.



Comparing PI insurance quotes



The Insurance Octopus compares quotes from a range of insurers ensuring we deliver the right cover for your business at a price that’s right for you. In addition, we have the ability to bolt on extra covers that you won’t necessarily be able to get from other Professional Indemnity insurance providers.

Don’t overpay on your professional indemnity
cover, get the right cover for the right price today

We are Professional Indemnity Insurance brokers

Which gives us access to the most competitive premiums, allowing us to save your business money. We have also worked with a leading insurer to develop our own Professional Indemnity Package to cater for the specific needs of each and every one of our clients.

Finding the right level of cover

Our team of PI experts are able to provide the appropriate level of cover at an affordable premium with flexible payment options including 0% installments and Direct Debit. We’re also able to provide business insurance and documentation within timescales to suits your business, often on the same day you take out a policy.

Why choose us for your Professional Indemnity Insurance?

We proudly make buying insurance different and our cover comes with a range of benefits.

Up to £5 million of cover

We can't stop accidents from happening but our Professional Indemnity insurance will give you up to £5m worth of cover - with up £5 million worth of public liability insurance cover also included.

Fast specific cover

To help save you both time and money. We compare prices from a range of different insurers so you don’t have to.

Specialists who understand your profession

Connecting you with agents who specialise in your field. They understand many of the challenges you face, & can tailor a policy to your needs.

Easy claims process

Accidents can happen, so when something does go wrong you can rest easy knowing our team is on hand to make the claims process as quick and stress free as possible.

Octopus customer rewards

We pride ourselves on the value we offer our customers, and with Octopus Customer rewards we give our customers a few additional benefits to their insurance such as discounts and offers to save them money.

No mid term fees, ever

We don’t charge any mid-term fees at all during the life of your policy – so there are no hidden fees following any changes you might need to make.

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Customer satisfaction rating

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Professional indemnity insurance FAQ’s

Get the answers you're looking for

How much coverage do I need?

Every business is different so when it comes to deciding on your level of professional indemnity cover you’ll want to make a few considerations.

  1. Think about the size of the contracts you undertake.
  2. Think about the type of work you carry out.
  3. Think about my costs you may well incur in the event that you need to defend yourself and your business in court.
  4. Consider the cost of getting a third party to rectify a serious mistake you’ve made.

How much coverage do I need?

What is run off cover?

Run off cover provides professionals with protection after a business ceases trading or is subsumed within another organisation. This could well be seen as an important cover for professionals following a retirement, a move to another business, or a buyout.

What is run off cover?

Professional indemnity insurance definition

Professional Indemnity Insurance is designed for professionals and firms and covers them in the event of certain errors made during the course of their business. With cover for legal and court costs as well as professional negligence, errors or omissions, breaches of professional duty or conduct, defamation, loss of data/documents and unintentional breach of copyright or patents.

Professional indemnity insurance definition

Is professional indemnity insurance compulsory?

Professional indemnity insurance is not a legal requirement. Though for some professions it may be required by certain professional bodies they may be part of. In some circumstances having adequate professional indemnity cover may even form part of a contract with a third party, for example a partner or a client. In which case failure to have cover may in itself result in a claim being made against the individual or company.

Is professional indemnity insurance compulsory?

How is a PI insurance premium calculated?

The premium calculation for a professional indemnity policy varies by profession as some professions are higher risk than others. Like a car insurance policy, there are many factors that go into the cost of the policy, not just the amount of cover that is required. The size of a business and its professional activities is a crucial part of any calculation that is made. Simply put, the greater the exposure to a potential claim, the more cost will be involved in the purchase of any insurance.

How is a PI insurance premium calculated?

Can I get retrospective cover?

Retroactive cover provides cover for work done in the past as it is still quite possible that a client could wish to make a claim against you for work you’ve carried out many years ago. Retroactive cover extends cover backwards to a specified date (the ‘retroactive date’). If you didn’t have professional indemnity insurance in the past but now wish to protect yourself and cover all bases then this could be an important cover for you.

Can I get retrospective cover?

How it works

Examples of Professional indemnity insurance in action

A breach of duty of care

A contract between a letting agent and a landlord stipulates that the clients’ property will be inspected monthly. Due to a lack of staff an inspection was missed. A major water leak occurs during this time, with the entire ground floor of the property more or less submerged in water, causing £20,000 worth of damage. The letting agent’s client is now looking to be reimbursed for their losses. With adequate professional indemnity cover in place the lettings agents are protected.

A case of defamation

A professional IT consultant who offers web hosting as part of their package of services is sued by a client following a cyber attack on the client’s website on Cyber Monday. The client subsequently put in a £50,000 claim for a loss of potential earnings due to the website being offline for a sustained period following the cyber attack. The IT consultant has indemnity cover up to £250,000 and in this case professional indemnity insurance is able to cover legal and court costs, as well as the £50,000 claim for loss of earnings.

Types of professionals we can cover

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Management Consultants Insurance
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Photographers Insurance
Project Managers Insurance
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Sales, Media and ...
Software Consultants Insurance
Telecommunications Consultants Insurance
Training Consultants Insurance
Training Providers Insurance
Translators Insurance
Website Designers Insurance

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