Professional Indemnity Insurance
Policy Includes
Professional Indemnity Insurance from Offshore Insurance covers you for any advice you give, error or omission in any part of the work you do.
Your business will be protected against claims for damage or loss if you make a mistake, or are found to have been negligent in services which you provided. This insurance will also cover your legal costs in relation to the defence of a claim.
It may be required by your contract that you have professional indemnity insurance, depending on your work, and the responsibilities you hold.
Retroactive Cover & Claims Made
Our professional indemnity insurance is written on a claims made basis. The insurance must be in place at the time a claim is made, rather than when the event occurred.
Most Professional Indemnity policies are inclusive of an option for retroactive cover, to provide cover for claims which may come up from any work which was carried out on an earlier policy.
Generally speaking, this would only provide you with cover back to the last break in continuous insurance, and would also come at an additional premium to be included. This premium would vary upon the length of the period to be insured.
The policy provided by us will automatically include Retroactive Cover to the date you started trading, or the date of incorporation of your company.
The contract you have with an agency does not provide you with insurance for your legal liabilities. This is your responsibility.