professional indemnity insurance

Cyber Crime, E-risks and Professional Indemnity Insurance

Research by specialist small business insurer Hiscox reveals that 75% of SMEs do not feel completely confident that their office premises are safe from thieves and nearly a quarter (22%) are concerned about e-risks and cyber crime. Since the start of the financial downturn, over a third (38%) believe their offices are more likely to be a target of burglary. The item deemed most at risk, by 41% of SME owners in the study, was computer equipment. E-risks that they face, such as theft of data, online identity fraud, loss of confidential information or hacker damage were also cited as a concern. This comes as no surprise as government statistics reveal that the average cost of the worst IT information security incident to a small company each year is £10,000-£20,000. Just 17% of SME owners sai... »

Professional Indemnity Insurance: 5 Things to Ask Before You Buy

Professional Indemnity Insurance is designed to protect you when a problem arises with any professional work you have done. In today’s litigation culture, this form of insurance is becoming increasingly relevant for a range of professions. Are you thinking about Professional Indemnity Insurance? Before you buy, it pays to consider the crucial 5 questions: 1. What exactly is Professional Indemnity Insurance? Professional Indemnity (PI) Insurance is designed to protect you in the case of professional error. In the course of your working life an instance may occur where unfortunately, the professional skill you exhibit is deemed inadequate. In this situation, a dissatisfied client may seek some form of compensation, resulting in financial implications for you and your business. This is where ... »

Professional Indemnity Insurance

Protect your business with professional indemnity insurance and read this simple guide to professional indemnity from leading specialist insurer Hiscox. What is Professional Indemnity? It’s the kind of insurance that protects your business from financially crippling and often reputation-damaging claims by dissatisfied clients. Because in this everything-by-yesterday world, even the most respectable companies can find themselves in dispute with a client over a mistake. Below we list some of the danger areas your business could be exposed to: Negligence: or breach of duty of care Intellectual property: unintentionally infringing on others’ copyrights, trademarks, broadcasting rights, any act of passing off Loss of documents/data: damaged, lost or stolen data and documents belongi... »