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 Immigration Consultants prove popular?
As an Immigration consultant you will be offering advice and dealing with a constant stream of legislation and paperwork. Such work can lead to claims being made against you including:
- Loss of data
- A breach of confidentiality
- Misuse of intellectual property
Professional Indemnity insurance for Immigration 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.
The limit of indemnity that you require under your policy is generally 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.
Immigration Consultant Professional Indemnity insurance policies are written on what is called a ‘claims made’ basis. This 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.
Any one claim or aggregate cover?
It is important that you know the difference between the types of cover that are available in the market as they can make a huge difference to the cover in the event of a claim. It can also make a big difference to the premium charged.
If a policy is written with cover ‘in the aggregate’, with say a limit of indemnity of £1m it means that this is the maximum your insurer will pay for all accumulated claims in one policy period, including associated legal costs.
If your policy is any one claim, that same £1m level of cover applies to each claim – regardless of how many claims you make. Usefully, the legal costs are paid in addition to this and to the same level of cover.
In effect, each claim has a £2m total fund, split half and half for damages and legal costs.
For further information and advice on all aspects of Professional Indemnity insurance for Immigration Consultants, please contact us today.
- Company Size – this is mainly established in two ways, the number of directors and staff and the gross annual income of the firm.
- Experience – underwriters will look for experience and a cv of the directors or principals will often help underwriters when they assess the risk.
- Claims experience – the claims experience is an important determining factor in the assessment of risk. This information usually reflects the type of work carried out by a firm. It also reflects the quality of the firm’s work, staff, internal risk management and experience.
A typical Professional Indemnity Insurance policy for Immigration Consultants will normally cover the following areas:
- Breach of Civil Liability
- Negligent act, error or omission
- Negligence of sub-contractors
- Irrecoverable fees
- Defence costs
- Unintentional intellectual property rights infringement (other than patents)
- Unintentional defamation
- Loss of third-party documents or data
- 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.