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.
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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 professional indemnity insurance for Printers eases potential worries.
Professional Indemnity Insurance for Printers can provide reassurance that you are financially supported, should a client bring a claim against you. As a printer, you need to be covered on a Media Professional Indemnity policy wording, as this would provide the correct cover.
Example claim:
A printer made a simple human error. The printer sent the wrong file to press and this was then dispatched to the printer client’s customers. In total, 75,000 leaflets were printed and sent out to 75,000 of the client’s customers. The client was annoyed and told the printer that he expected the job to be done again at no cost and that an apology also be sent to the clients.
Luckily, the printer had a Media Professionals Professional Indemnity policy that included an extension of cover for rectification and loss mitigation costs. The claim was eventually settled by the insurers at £20,000 who paid for the reprint and the additional postage costs and advised the client through the process.
If this had been your firm, and the claim had been made against you, would you have the financial means to pay for the additional work to be done again? This is where Printers Professional Indemnity insurance can provide real peace of mind.
For further information on all aspects of professional indemnity insurance for Printers, 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.
- Production of advertisements
- Media planning and buying or ‘media spend’
- Design and production of printed literature and documents
- Direct marketing including mailshots
- Sales promotion
- Marketing including market research
- Public relations
- Publishers
- 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
As a printer you need to be covered on a Media Professional Indemnity policy wording.
A typical Professional Indemnity insurance policy for Printers 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.
As mentioned in the claims example above, the extensions of cover in respect of irrecoverable fees and rectification and loss mitigation are of particular relevance, as most media professionals will normally be in a position to fix a problem before it ever becomes apparent to their client. The end result is no third party claim for damages and therefore, under most Professional Indemnity policy wordings, no valid PI claim.
For this reason, it is essential that a suitable media wording is bought that includes cover for rectification and irrecoverable fees - also referred to as 'first party' cover.
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.
