Professional Indemnity Insurance

At get indemnity™ we're a specialist PI insurance broker with access to the wholesale market

Get indemnity™ professional indemnity

Benchmark your cover with a specialist professional indemnity insurance broker.
Obtain professional indemnity quotes for UK registered companies with a turnover up to £100m.
Stating at £332 annually or £26.83 monthly for a limit of £1 million professional indemnity insurance.
Complete our online application or give us a call to obtain your professional indemnity quotes.

What is professional indemnity insurance?

Professional indemnity insurance, also known as professional liability insurance, protects against the failure to exercise reasonable skill and care in the provision of professional or advisory services.

As a specialist in your subject matter, clients rely upon your skill, knowledge and due diligence to deliver on the services agreed. Professional indemnity insurance provides financial protection in the course of offering a professional service.  

The business insurance will pay legal costs incurred in defending allegations and pay damages from any award or settlement. Below we explain how professional indemnity can protect your business, how much it costs and other considerations.

    Get indemnity™ professional insurance

    Our get indemnity™ team have access to the wholesale professional indemnity market to identify competitive quotes for any professional in the UK. If you want to talk with an insurance broker, please give us a call on 0345 625 0711.

    At get indemnity™ professional indemnity insurance quotes start from £322 annually or £26.83 monthly for a £1 million limit. Below we provide some background about the product and explain how professional indemnity can offer financial protection.

    To compare professional indemnity quotes from the wholesale market and benchmark whether you purchase the most appropriate protection please arrange a call back or complete our digital onboarding process.

    Who needs professional indemnity insurance?

    Professional indemnity should be considered by persons selling their skills and knowledge based on their experience or qualifications. These persons will hold a greater level of knowledge in their subject matter than the average person.

    If you fail to exercise reasonable skill and care, or fail to deliver on the services agreed, there may be rights to compensation. Professional indemnity insurance should be considered for any business where advice, professional, or technical services are offered to a client.

    Many professions are required to purchase professional indemnity as a regulatory or contractual requirement or to meet. At get indemnity we're a specialist professional indemnity insurance broker and have the capacity to identify a range of solutions.


    Compare UK professional indemnity insurance quotes from £332 annually

    Why you need professional indemnity insurance?

    Professional indemnity insurance can offer protection against a range of civil liabilities including negligence, breach of contract, defamation, breach of privacy and intellectual property infringement.

    Professionals need to ensure they have sufficient business insurance to guard against claims for financial compensation. Professional indemnity insurance means they can offer their services with the knowledge they have access to legal and financial support.

    In an increasingly litigious society, if a client feels you haven’t delivered under the terms of your contract or have been negligent, they are more likely to seek financial compensation through the courts.

    How much does professional indemnity cost?

    The main drivers for your professional indemnity insurance cost will be the industry you work, services you offer to your clients, the professional fees earned and exposure to increased risk factors.

    At get indemnity™ professional indemnity quotes start at £332 per year or £26.83 monthly for a £1 million limit. Complete our digital on-boarding process or call us on 0345 625 0711 to obtain your professional indemnity quotes.

    Professional indemnity cost can vary significantly from to insurer to insurer. Each will take a view on the amount of risk you pose and allocate a price, otherwise known as a premium. Read below to understand how insurer's calculate your premium.

    What does professional indemnity provide cover for?

    Professional indemnity offers protection for defence costs and any damages awarded or settlement agreed. Cover can offer protection (subject to the professional indemnity insurance definitions, insuring clauses and exclusions) against:



    Negligence means any act, error or omission which does not meet an accepted reasonable standard, if you owe a duty of care to the claimant.


    Civil Liability

    Civil liability means an act, error or omission under a civil proceeding which you are held to be responsible that leads to the claimant suffering a financial loss.


    Breach of Contract

    Breach of contract means any unintentional breach of contract with whom you have contracted to provide professional service for a fee.



    Defamation means libel, slander, product disparagement, which harms the reputation of a person or organisation, including mental anguish or emotional distress.


    Breach of Privacy

    Breach of privacy means the violation of the rights of privacy of an individual, including the public disclosure of private facts.


    Intellectual Property Infringement

    Intellectual property infringement means unintentional IP infringement, including but not limited to infringement of copyright and plagiarism. 


    Note professional indemnity definitions and coverage vary from policy to policy, therefore it's worth considering whether the specific cover meets your needs. To obtain your professional indemnity quote, please arrange to call back with one of our Account Executives.

    How do insurers calculate your professional indemnity insurance cost?

    The size of professional fees generated will bear a direct relationship to how insurer will measure and calculate your professional indemnity cost.

    The allocation of fees between different professional services and the perceived exposure attaching to each will impact your professional indemnity premium.

    Experience acts as an indicator of the applicant's ability to: 1) provide accurate advice or services; 2) match advice and services to the client's needs; 3) manage client expectations; 4) recognise and mitigate client dissatisfaction.

    The allocation of fees between counties and which jurisdictions you contract your customers (UK, USA, Canada, Europe, Rest of World) will directly impact insurer's professional indemnity cost calculation.

    Financially stable applicants are less likely to change their business model, engage in M&A activity and downsize staff, potentially impacting their ability to service clients with whom they are contractually bound.

    Reliance on any one client can lead to a situation whereby the applicant does not share the insurers interest in resisting spurious claims, therefore commercial interests are in conflict.

    Excessive fees compared to contract values can indicate a higher perception of risk compared with industry standards can negatively impact your professional indemnity insurance cost.

    Lack of standard contracts that mitigate your risk and legal vetting can indicate a reduced level of risk management and appreciation for the liabilities being accepted.

    The nature and size of an applicant's typical projects can indicate the level of exposure posed, with larger scale projects typically carrying increased professional indemnity risk.

    Frequency and severity of claims with a lack of remedial action, can indicate a lack of quality risk management and systemic issues, will signifiantly affect your professional indemnity premium.

    Complete our digital on-boarding process and we can collate information that allows us to negotiate competitive professional indemnity insurance quotes from the wholesale market.

    How does a claims made professional indemnity policy work?

    Professional indemnity works on a claims made basis, whereby the current policy will respond to the claim made, irrespective of when the work was completed (provided that such services did not occur before the retroactive date).

    The trigger of a claims made policy is when you become aware of circumstances that may give rise to a professional indemnity claim and report the circumstance to the insurer.

    If a management consultant provided a service in 2016, but was not aware the client was seeking damages against them until 2018, the professional indemnity claims made policy in 2018 will be available to respond to the claim (see below).

    It is important you notify your professional indemnity insurer of the circumstances of any claim immediately and within that policy period. Late notification may prejudice negotiations and entitle the insurer to repudiate the claim.

    Professional indemnity insurance retroactive date example

    What is a professional indemnity retroactive date?

    For a claim to be covered it must arise from services performed by the insured on or after the retroactive date (detailed on your policy schedule). This will typically be the first date from which you purchased professional indemnity insurance.

    If your retroactive date is 'unlimited' or 'N/A', professional indemnity cover will apply for actions from the date the company was incorporated. Where for instance, the retroactive date is 01/06/2016, your professional indemnity policy will cover services offered on or after the retroactive date.

    If an allegation arises from services provided in 2015, your professional indemnity policy would exclude the claim made against you, even though the claim is made against you in 2017.

    What types of professional indemnity policies are available?

    There are two types of professional indemnity policies:

    A 'Negligence' policy provides cover if you breach your duty of care, by way of a negligent act, error or omission. This is the most cost-effective professional indemnity cover because it is limited to the cause of negligence.

    A 'Civil Liability' policy does not restrict cover to the nature of the wrongdoing. Professional indemnity cover may provide for: breach of contract, breach of duty of trust, conflicts of interest, breach of statute law and defamation. These may not necessarily arise from negligence and therefore may not be covered under a negligence policy.

    Professional indemnity insurance definitions

    Professional indemnity insurance definitions, insuring clauses and exclusions vary from policy to policy, therefore it's worth considering whether the specific cover meets your needs. All negligence and civil liability policies will contain a number of exclusions, so it is important to understand the extent of such exclusions and seek advice from a specialist insurance broker. Compare professional indemnity quotes by calling us on 0345 625 0711.

    How much professional indemnity cover do we need?

    The size of contracts you undertake offer an indication of how much professional indemnity insurance you should consider buying because an unsatisfied customer may seek to claim the contract value.

    However, while you may attempt to limit your liability within any terms and conditions to the size of a contract or multiple of that contract, a court of law may take a different view and award damages over and above.

    Professional indemnity underinsurance remains common and when businesses face disputes, they find themselves having to pay costly legal fees and large compensation claims to put their customer back into the same financial position.

    It is also worth considering that legal defense costs are on average over half the total cost of the majority of professional indemnity claims. Obtain alternative professional indemnity quotes by completing our digital onboarding process.

    Minimum amount of professional indemnity insurance

    The minimum amount of professional indemnity insurance you can buy is £100,000, however you should consider the additional cost of buying an increased limit. The most common amount bought by small businesses is £1 million.

    In addition, to any required contractual or regulatory requirements, the amount of PI cover you purchase will depend on your perception of the exposure and how much you are prepared to spend to mitigate the risk.

    Please note the amount you purchase, may not be sufficient to cover the cost of future claims. We recommend you compare more than one option to appreciate the cost to increase your limit.

    Professional indemnity insurance claim examples:


    Why you should purchase professional indemnity insurance


    The impact of professional indemnity claims

    Professional indemnity insurance claims are by nature, low occurrence but high severity. A potential claim can have significant financial consequences, if you're unfortunate enough to become the target of an allegation. 
    Professional indemnity means financial security from having to pay defence costs and damages as a result of an allegation. We've produced a useful guide: Civil liability insurance - how to protect against professional negligence?

    What is errors and omissions (E&O) insurance?

    Errors and omissions (E&O) insurance is an alternative name for professional indemnity or professional liability, however it is more commonly referred to errors and omissions within North America and certain classes of media liability insurance, such as T.V & Film.

    If you take a closer look at the insuring clauses within the policy wording, the cover will protect against, acts, errors or omissions, hence the alternative name for the insurance protection.

    How to compare professional indemnity quotes?

    There a numerous competing insurers that provide professional indemnity cover. Please complete our online application to compare professional indemnity quotes from the wholesale market.

    At get indemnity we continue to see stable market conditions less exposed professions, however there have been some significant rate increases as a result of increased claims activity and a reduction in the number of competing insurers.

    High hazard professions may come under increasing pressure to accept premium increases. Your professional indemnity insurance broker should engage with you early in the renewal process to ensure sufficient strategic planning.


    About get indemnity™ professional indemnity insurance

    This guide is for information purposes and based on sources which we believe are reliable, the general risk management and insurance information is not intended to be taken as advice with respect to any individual circumstance and cannot be relied upon as such.