Jelf’s Beginner’s Guide to Professional Indemnity Insurance

By Anita Jaynes on 25 July, 2019
Advertorial feature

Ian Sharpe, Senior Account Director, for Jelf in Swindon’s Beginner’s Guide to Indemnity Insurance.

As a consultant, you are personally liable for the work you undertake. That means that if, for whatever reason, things don’t quite go to plan, you could find yourself liable for huge financial claims as a result of your work. 

Whether you’re having an off day or you’ve got a tricky client, it’s very easy to get in over your head when you are signing for a job. However, when you agree to carry out a professional service, you are making a contractual promise to provide the necessary degree of skill and experience to deliver responsibly. Failing to do so could leave you open to claims for compensation or even an appearance in court.

Professional Indemnity (PI) is a type of insurance specially designed to protect professional people against claims for damage, injury or loss caused as a result of professional negligence.  But not every PI policy will provide you with the essential cover you need to protect your business. 

Follow our beginner’s guide to PI insurance to help you find a policy that’s right for your business:

1. Find a policy that can be tailored to suit your business

Opting for a standard policy could see you paying additional premium for cover you don’t need. Take the time to find a policy that can be tailored to suit your business, so you’re only paying for the cover that you want. 

2. Find a specialist provider

Give yourself the reassurance of knowing that your provider is committed to catering for your specific business needs. 

3. Make sure the payment plan works for you

If you’re a new business, it’s good to know that some providers will let you pay in monthly instalments. Never sign onto a payment programme you’re not 100% happy with.  

4. Do your own background checks!

Of course, you expect your insurance provider to do background checks on you. But it never hurts to do a little research for yourself. Before you sign, make sure your provider has a good reputation, so if the worst happens you can have the confidence that claims will be dealt with efficiently. 

Keep track of your renewal dates

It’s important to remember that PI is offered on a claims-made basis.  This means that you are only covered for claims made against you while your policy is in place. Losing track of your renewal dates could leave gaps in your insurance that allow your provider to refuse paying out when you need it most.

If you could benefit from a review of your professional indemnity insurance, contact:



T: 01793 714431

This is a marketing communication. Jelf Insurance Brokers Ltd is authorised and regulated by the Financial Conduct Authority (FCA). Not all products and services offered are regulated by the FCA (for details see Registered in England and Wales number 0837227. Registered Office: Hillside Court, Bowling Hill, Chipping Sodbury, BS37 6JX. FP19.541