Why choose Hensure for PI insurance
Our business is not a call centre, but instead provides a personal service and dedicated team to assist with your queries.
Our team has a wealth of experience and knowledge to help you and your business get the most appropriate cover for your needs.
Our full 24/7 quote and buy facility allows you to run a personalised quotation, at a time that suits you and your business.
Why does professional indemnity insurance for Computer Hardware Consultants make sense?
As a consultant you are providing a service to your clients, who expect you to act in a professional manner. If your client believes that you have not done this, or that your actions have caused a problem for their business, then they could decide to pursue a claim against you.
Even if you believe that you have done nothing wrong, you will still need to defend yourself, and a lawyer can be very costly. If your client wins their case, you will then be responsible for the cost of compensation awarded to them. PI Insurance exists to provide financial protection for these events.
The limit of indemnity that you require is normally for you to decide, based upon your own assessment of the exposures that you face in your business. It is worth bearing in mind that the costs involved in defending Professional Indemnity claims can be astronomical so this needs to be taken into account.
It may also be that your client insists on you buying a certain level of cover as part of the tendering process, so the decision may be taken out of your hands to some extent.
If your risk profile does not fit the underwriting appetite for our online scheme, then as an Independent Commercial Insurance Broker with a number of years experience writing Professional Indemnity risks, we can also access a number of different PI insurers until we find the right insurer for you.
To discuss a Professional Indemnity quote for your business, contact us today.
- Company Size – the overall size of the firm, based on gross annual income of the company and the number of partners/ directors/ employees.
- Qualifications and Experience – insurers will want to know how many relevant years’ experience that you have in the trade and may want to see relevant CVs.
- Type of Work – insurers will want to know the split of annual income derived from each discipline that the firm is involved in; some areas are considered high risk and some areas are considered low risk from a claims point of view.
- Claims Experience – this information reflects on the type of work carried out by a company. It also reflects the quality of the company’s work, experience, staff & internal risk management.
- Turnover Split by Territory – a large exposure to USA/Canada in particular can be perceived as a problem due to the claims culture in North America and the likely costs involved in defending negligence claims in those countries.
A typical Professional Indemnity Insurance policy for Computer Hardware Consultants will normally cover the following areas:
- Breach of Civil Liability
- Negligent act, error or omission
- Negligence of sub-contractors
- Irrecoverable fees
- Rectification and loss mitigation costs
- Bodily injury or property damage arising from breach of professional duty
- Defence costs
- Unintentional intellectual property rights infringement (other than patents)
- Unintentional breach of confidentiality
- Unintentional defamation
- Loss of third-party documents or data
- Computer virus transmission
- Court attendance costs
Your policy coverage may vary between insurer.
- Professional Indemnity provides cover for claims that arise as a result of the work you have completed or advice you have given.
- Public Liability provides cover should members of the public receive an injury or property damage due to your work. This protects your business should a compensation claim be made, also covering any legal costs that result from this.
- Employers’ Liability provides cover for compensation claims and associated legal costs, arising from employee injury or work-related illness.
- Cyber Insurance provides support in the event of cyber-crime and unintentional data breaches, offering cover against the cost of revenue and fines.
Directors and Officers
- Directors and Officers insurance policies protect you financially against any claims that are made against you personally in your position as a director, partner or officer of your business.
Legal expenses insurance
- If you were involved in a legal battle, knowing that any money you spend on legal bills would be reimbursed could make all the difference. Legal expenses insurance does just that. It ensures that your business remains financially stable after a legal case by helping to compensate the business for incurred costs.
Contact us to find out more about the right cover for your business.