Why choose Hensure for PI insurance
Personal Service
Our business is not a call centre, but instead provides a personal service and dedicated team to assist with your queries.
Experienced Team
Our team has a wealth of experience and knowledge to help you and your business get the most appropriate cover for your needs.
Online System
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 considering professional indemnity insurance for Energy Consultants is advisable.
As an Energy Consultant, you offer your clients professional advice. Unfortunately, sometimes this advice can cause problems for the client and they may file a claim against you.
Typically, energy consultants who carry out site energy audits and surveys, collate relevant details and documents, identify and support implementation of energy saving measures and help to develop an energy policy or strategy, require PI insurance.
Professional Indemnity insurance for energy consultants protects you against claims made against you in respect of your legal liability for loss arising from a breach of professional duty. The policy protects you against compensation claims and importantly pays for your legal defence of any claim irrespective of the eventual outcome.
As specialist professional risk brokers, we provide energy consultants professional indemnity insurance quotes and cover from our panel of leading professional indemnity underwriters and insurers in the United Kingdom.
Professional Indemnity insurance is on a ‘claims made’ basis. It is important to understand this, as it means that they provide cover for claims made against you during the policy period (i.e. after the inception or renewal date) that relate to work that you have done at any time after the retroactive date.
Policies on a claims made basis should include a retroactive date to protect the policy holder against claims in respect of work undertaken prior to the current policy year. The retroactive date should coincide with the date you started trading or the effective date of your first Professional Indemnity policy. It is possible to arrange a policy with a retroactive date of none, which effectively provides cover in respect of all previous periods.
You may also require other insurance policies for your business, such as Public Liability, Employers’ Liability or Tradesman Insurance.
For further information on all aspects of business insurance for energy consultants, please contact us today.
Things we look for
- 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.
Policy coverage
A typical Professional Indemnity Insurance policy for Energy Consultants will normally cover the following areas:
- Breach of Civil Liability
- Negligent act, error or omission
- Negligence of sub-contractors
- Irrecoverable fees
- 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.
Insurance types
Professional Indemnity
- Professional Indemnity provides cover for claims that arise as a result of the work you have completed or advice you have given.
Public Liability
- 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
- Employers’ Liability provides cover for compensation claims and associated legal costs, arising from employee injury or work-related illness.
Cyber Insurance
- 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.
