Professional Indemnity Insurance, also referred to as PI Insurance or PII, will cover professionals and their businesses against claims made by a client, or third party, relating to breach of contract, intellectual property rights and infringement of copyright, negligence, errors and omissions. It is an essential insurance policy for any professional firm.
Professional Indemnity Insurance claims can be substantial. A Professional Indemnity policy will cover these and more in the defence of a claim.
Hera Indemnity are specialist brokers in this field and enjoy close working relationships with all the blue-chip insurers and underwriters through whom we arrange highly competitive insurance protection, tailor-made for your business. Your professional reputation and financial security are paramount making it essential you have insurance to protect both.
Solicitors; firms are required to have in place a valid Professional Indemnity Insurance policy in order to trade in accordance with the Solicitors' Indemnity Insurance Rules and SRA Indemnity Insurance Rules. Cover can only be taken out with a Participating Insurer; and which meets the minimum terms and conditions set out in the SRA Indemnity Insurance Rules.Read More
The Chartered Institute of Legal Executives (CILEx) recommend that members who manage their own firms have an appropriate Professional Indemnity Policy in place. For those CILEx members whose firms are regulated by CILEx Regulation, you are required to take out and maintain Professional Indemnity Insurance in accordance with the CILEx Professional Indemnity rules.Read More
All Chartered Surveyors in private practice are required by the Rules of Conduct of the Royal Institution of Chartered Surveyors (RICS) to take out Professional Indemnity Insurance with an 'Approved RICS Insurer'. The RICS is an independent professional body which regulates and governs the profession and it is essential that regulated firms have adequate and appropriate Professional Indemnity Insurance that complies with the rules set out by the institution.Read More
It is a compulsory requirement of the Architects Registration Board (ARB), the governing body of the industry, that architects have Professional Indemnity Insurance. The ARB guideline is that Architects have at least an indemnity of £250,000.Read More
Professional Indemnity Insurance is compulsory for all members of the Institutes of Chartered Accountants (England, Wales and Scotland and N. Ireland) who hold a practising certificate and are engaged in public service, regardless of the amount of practice income. Similar rules apply from all the other accountancy profession governing bodies.Download Proposal Form
There are several regulatory bodies in the UK that act on behalf of a number of different qualified Engineers, for example, chemical, electrical, mechanical and structural. The various institutes recommend their members take out Professional Indemnity Insurance, but in many instances Engineers' are requested to obtain Professional Indemnity Insurance cover as part of a contractual project agreement. This may include a Collateral Warranty advice service.Download Proposal Form
Independent Financial Advisers (IFAs) are professional advisory businesses in the financial services sector and range from large firms to smaller general practitioner businesses. The Association of Independent Financial Advisers (AIFA) is the trade body and represent 70% of all IFAs.Download Proposal Form
If you are a company that provides a service and gives advice to clients in the role of a 'Professional Expert' within your chosen profession you are still required to take out Professional Indemnity Insurance. Typically companies in this category would include advertising agencies, design companies, management consultancies, IT companies and publishers.Download Proposal Form
The client management team at Hera Indemnity offers you their knowledge and expertise of the professional indemnity insurance market to ensure you arrange the protection you need and at a competitive premium.