Insurance to protect your business
In an increasingly litigious environment, you may need professional indemnity insurance to help protect your business against claims made by a third party as a result of an error, omission or negligent advice.
In a changing economic climate, which features rapid technological advancement and increased regulatory pressures, more and more businesses are finding themselves at risk of lawsuits due to perceived, or actual, negligence or errors. They may also need to satisfy regulatory and client-imposed contractual requirements.
We have access to Lloyd’s of London and provide cover for a number of different industries including architects, engineers, surveyors, solicitors, insurance brokers, accountants and consultants. We have policy wordings tailored to your profession as well as in-house underwriting capabilities through our own MGA. We can cater to firms of all sizes with online solutions for sole traders and SMEs, as well as global servicing capabilities for multinational organisations through our overseas offices and partners.
Professional Indemnity Insurance
- Expertise across a wide range of professionals
- Wording relevant to your industry
- Access to Lloyd’s and wider London market
- In-house underwriting capabilities
As an insurance broker with global presence not only do we understand the regulation required to operate in a range of territories, we also have the market leverage required to secure suitable cover and support you in the event of a claim.
A smooth renewal process in a hard market
Professional Indemnity Client Testimonial
“
We were aware that PI premiums had already begun edging up after many years of being
relatively competitive and sure enough, when it came to our 2019 Professional Indemnity
insurance renewal, our costs doubled to 2.4% of our turnover.
With the date for our 2020 PI insurance renewal on the horizon, we decided to talk with
a number of insurance brokers to discuss how we could achieve the desired outcome. We
selected Gallagher to help us through the process because they seemed to have more
direct contact with the underwriters who price the policies.
Right from the word go, the team at Gallagher acted quickly and professionally, putting
forward a plan that helped us start the renewal process early. This began with Gallagher
conducting preliminary talks with insurers and compiling the necessary information. The
team then arranged calls for me with two underwriters which meant I could discuss the
real risks associated with our services, rather than ones they perceived from an insurance
proposal form.
Because insurers are asking more questions now, I wanted to be sure that from an
underwriting perspective we had a broker on our side with the necessary experience and
knowledge to achieve cover that was able to meet our requirements. Gallagher was able
to do this for us and the overall result was a slight reduction in our insurance costs which,
in the current climate, is a massive win”
Dr Bill Peacock, Managing Director - GRM Development Solutions, 2020
