Professional Indemnity Insurance
Cover against damages caused by consulting errors.Insurance against professional liability
Liability risks, most significantly financial damages caused to clients, make up the greatest risk to companies engaged in consulting activities.
Customised professional indemnity insurance
The insurance is suitable for companies engaged in design and consulting activities. We also offer liability insurance for IT companies and construction supervisors.
Experts at your assistance in case of loss
While you focus on your core business, we will investigate your company’s liability and negotiate with the injured party if necessary.
What is professional indemnity insurance?
Professional indemnity insurance provides cover if your consulting company finds itself liable to indemnify damages caused by a design error, for example. Even a minor error in designs may result in financial losses to the client or a third party.
The loss caused by the error may be much higher than the price of the assignment. Moreover, the costs of investigating the claim and legal expenses are often considerable. If your company causes loss to another, professional indemnity insurance may protect you against liability for damages.
We also offer customised liability insurance for your company’s specific needs.
- Professional Liability Insurance for IT Company Consultants offers cover against damages resulting from consultation on IT products, such as hardware and software.
- Professional Indemnity Insurance for Construction Supervisors is suitable for companies engaged in construction supervision. By building work supervision we mean construction supervision to ensure that construction is carried out in a way that is technically correct and technically in agreement with the construction contract.
What is covered by professional indemnity insurance?
Professional Indemnity Insurance, Professional Liability Insurance for IT Company Consultants and Professional Indemnity Insurance for Construction Supervisors compensate bodily injuries, property damage and financial losses to third parties for which your company is legally or contractually liable. Your company’s indemnification liability may be the result of an error, deficiency or omission in designs, research results and measurement results.
Pohjola Insurance experts are at your assistance in the event of a loss Focus on your core business while we investigate your company’s liability and negotiate with the party demanding damages. We will appear in court or pay the legal expenses if the claim for damages leads to legal proceedings.
Professional Indemnity Insurance: how is the price determined?
The price of Professional Indemnity Insurance depends on factors such as the lines of business for which your company provides design and consulting services and their annual billing. The price of your insurance also depends on the sum insured and deductible you choose. Contact us for more information.
