What could be more vital than securing the safety of your business? Professional indemnity (PI) insurance is – quite simply - an indispensable risk management tool for any company that provides professional advice for a fee. A good PI policy protects you against financial loss and legal defence costs. A bespoke PI insurance scheme such as those brokered by Cherry Godfrey will also ensure regulatory compliance and bolster your professional reputation, providing peace of mind and robust protection. Whether you are an accountant, advocate, architect, surveyor, or run a trust company, providing expert advice or services comes with inherent risks and it is important to protect yourself.
Covering Financial Loss
Should you find yourself in the unfortunate position where a client alleges that your professional advice has caused them to lose money, professional indemnity insurance is your safety net. This isn’t a particularly happy scenario to consider, let alone find yourself in. However, it is an unfortunate reality that even those who diligently follow best practices can still make mistakes. Client dissatisfaction -whether justified or not – can also be incredibly disruptive. Professional indemnity insurance protects you from the potentially ruinous costs incurred whilst defending your business from these sorts of claims.
Legal Defence Costs
Let’s say that you have to go to court to face a client claim– concern over the cost of legal defence is a stress you could do without, especially since legal expenses can mount up in the blink of an eye, potentially crippling your business financially. Cherry Godfrey’s professional indemnity policies provide coverage for your legal costs, allowing you to concentrate on your defence without worrying about running down your valuable business resources. Should a case not go your way and you are found liable for damages, our comprehensive PI policies cover both your legal defence costs and the amount of damages awarded to the claimant. This dual protection provides vital peace of mind and financial headroom so that you can navigate the legal dispute and continue to operate your business effectively.
Tailored Solutions – the Cherry Godfrey Way
Tailored solutions are the cornerstone of the Cherry Godfrey service. We understand that different professions face unique risks and challenges, that’s why we offer specialist schemes tailored to the specific needs of accountants, advocates, architects, surveyors and trust companies. Our access to Lloyd's of London insurers allows us to provide highly personalised and comprehensive coverage solutions; regardless of your profession, you receive the most appropriate and effective protection for your specific needs.
Regulatory Bodies and Client Requirements
Regulatory bodies for many sectors require a certain level of professional indemnity coverage. Regulatory bodies for certain professions, for instance, accountants and architects, require PI to maintain a license to practice. Not only this, but it is increasingly common to find stipulations regarding a certain level of PI cover as part of contractual agreements. The right level of coverage keeps you in line with these requirements but also helps to build client trust and company credibility.
Peace of Mind with Cherry Godfrey
Even if your profession is not subject to a regulatory body with specific coverage requirements, PI still provides invaluable peace of mind and the ability to focus on what you do best: delivering exceptional service. Professional indemnity protects your business from the financial and reputational damage that can arise from professional errors or client dissatisfaction. With access to Lloyd's of London insurers and tailored specialist schemes, Cherry Godfrey offers the comprehensive and personalised PI coverage your business needs to thrive.
Don’t leave your business vulnerable—secure your Professional Indemnity insurance today and safeguard your future.
For more information on how Cherry Godfrey can help protect your business, contact us today. Your peace of mind is our priority.
