Claims against companies and individuals for breach of ‘professional duty’ resulting in financial loss are becoming all too common, particularly for engineers. EngInsure has developed a tailored Professional Indemnity Insurance policy to respond and protect your business against this significant operating risk.
Professional Indemnity Insurance is designed to provide you and your business with financial protection against claims alleging loss as a result of your professional advice or service.
Any company or individual that provides professional advice or services can be held liable for financial loss that occurs as a result of an error or oversight in carrying out their work.
Professional Indemnity Insurance acts to insulate you against this financial exposure, even extending to cover your legal expenses in the defence of a potential claim.
Make sure you have a quality safety net in place when working to meet the often demanding expectations of clients. EngInsure’s advisers possess a deep understanding of the challenges you face as an engineer, and can provide you with a bespoke Professional Indemnity solution that empowers you with greater control over the financial future of your business.
Please Note: Below are some of the more common insurance policy features. Please refer to the insurer specific policy wording for inclusions, exclusions, terms and conditions.
Loss of Documents
Coverage of the costs incurred to replace or restore documents lost or damaged by the insured, or any person to whom they have been entrusted.
Reinstatement of Indemnity Limit
The EngInsure Professional Indemnity policy will allow a reinstatement of the policy limit in the event that the initial limit has been eroded.
Advancement of Costs and Legal Expenses
Defence Costs, Legal Representation and Public Relations expenses can be advanced preceding the final disposition of a claim.
Bodily Injury & Property Damage
In some cases your policy can be extended to provide cover for an error or omission which results in a Third Party suffering injury or damage to property due to a breach in professional services.
Fraud and Dishonesty
Cover for loss sustained as a consequence of theft or dishonesty by your employees. Protection is provided based on the proviso that you have not condoned or committed the dishonest, fraudulent or criminal act that saw the loss occur.
Protection for any claim made alleging libel, slander or defamation against you.