Towergate Insurance Professional Indemnity
What is Professional Indemnity Insurance?
Professional indemnity insurance is a form of insurance that covers the financial loss that a business may incur due to professional mistakes or negligence. It is designed to protect businesses from potential claims arising from professional negligence or errors. In particular, it covers the financial losses suffered by the client as a result of any failure to provide the services they were contracted to provide. Professional indemnity insurance is required by many professional bodies, such as lawyers, accountants and other professionals who are typically held to a higher standard of care than other businesses.
How Does Towergate Insurance Professional Indemnity Work?
Towergate Insurance Professional Indemnity cover is designed to protect businesses from potential claims arising from professional negligence or errors. It provides cover for financial losses suffered by the client as a result of any failure to provide the services they were contracted to provide. This includes both the cost of defending any legal action taken against the business, and any damages awarded to the client.
The cover is tailored to the individual needs of the business and can be adjusted to include additional areas of risk, such as product liability. Towergate Insurance Professional Indemnity can also provide protection for any legal costs incurred as a result of defending a negligence claim, as well as any damages awarded to the client.
What Are the Benefits of Professional Indemnity Insurance?
The main benefit of professional indemnity insurance is that it can provide protection against financial losses incurred due to a professional mistake or negligence. It can also provide cover for any legal costs associated with defending a claim of negligence, as well as any damages awarded to the client. This can provide peace of mind for businesses, as they know that they are covered should they ever face a professional negligence claim.
Professional indemnity insurance also provides cover for any financial losses resulting from any claims of breach of contract. This is important for businesses, as they can be held liable for any losses incurred by their clients should they fail to deliver the services they were contracted to provide.
What Does Towergate Insurance Professional Indemnity Cover?
Towergate Insurance Professional Indemnity provides cover for a range of potential risks, including financial losses arising from professional negligence or errors and any legal costs incurred as a result of defending a negligence claim. It also provides cover for any damages awarded to the client, as well as any financial losses resulting from any claims of breach of contract. Additionally, it provides protection for any claims of libel and slander, as well as any data protection breaches.
How Much Does Towergate Insurance Professional Indemnity Cost?
The cost of Towergate Insurance Professional Indemnity cover will depend on the level of cover required and the size of the business. Towergate Insurance offers a range of cover options to suit the needs of different businesses, and the cost of cover can be tailored to the individual requirements of each business.
What Additional Benefits Does Towergate Insurance Professional Indemnity Offer?
Towergate Insurance Professional Indemnity offers a range of additional benefits to businesses, including access to a dedicated team of experts who can provide advice and assistance if a claim is made against the business. The policy also includes cover for any data protection breaches, as well as any legal costs associated with defending a negligence claim.
Conclusion
Towergate Insurance Professional Indemnity is a form of insurance that provides financial protection for businesses against potential claims arising from professional negligence or errors. It is designed to cover the financial losses suffered by the client as a result of any failure to provide the services they were contracted to provide. It also provides cover for any legal costs associated with defending a negligence claim, as well as any damages awarded to the client. Towergate Insurance offers a range of cover options to suit the needs of different businesses, and the cost of cover can be tailored to the individual requirements of each business.