PI Insurance

PI insurance, or professional indemnity insurance, may or may not be considered a legal requirement in your profession but if you offer professional services or advice to clients or patients then you should consider it an essential part of your monthly budget. It could certainly end up saving you a lot more than it ever cost and if you are looking for a business insure policy then you can include PI insurance elements to offer another level of protection for your organisation.

The modern business environment is one where PI insurance has become even more important than ever before. More and more people offer consultancy services, or have undertaken what is now considered a profession and these are the people that stand to lose in professional indemnity cases. Unfortunately, this has also come at a time when litigation cases are increasingly commonplace and the costs of such cases could prove extremely hefty indeed.

It only takes a single and often seemingly small mistake. A missed deadline or an accidental breach of customer privacy can lead to major problems for your customer and for your business. Without PI insurance you could be forced to pay compensation and legal costs from the coffers of your business. With a good insurance policy, you will be protected against these costs so you don’t have to sacrifice your revenue and profits.

Even the most reputable companies can come under fire from disgruntled companies and it only takes a single case. Not only will you face these direct financial costs but you could also lose business. You are likely to need to attend court and this will mean lost earnings. You will also lost some reputation with your clients or customers and so this will also lead to additional losses. PI insurance can protect you against much of the loss that you face.

PI insurance can be included as part of a business insurance package. This provides you with complete protection for all aspects of your business with the convenience of paying a single monthly premium. It means that you don’t have to worry about mistakes, which is when they become more likely to happen, and you can concentrate your efforts on providing high quality services and advice to your clients.

Hensure.com provides a range of competitively priced and effective insurance policies, including PI insurance that is designed to protect the professional and their business.