Examples Of Professional Indemnity Claims

Professional Indemnity Claims

If mistakes are made whilst providing professional services, advice or designs to a client, your client can then take legal action against you for the mistakes made. Professional Indemnity Insurance is what pays the legal costs as well as any compensation payments against you. If Professional Indemnity Insurance wasn’t put in place, you would then have to pay any expenses held against you out of your finances.

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Examples of Professional Indemnity claims include;

  • Losing any type of money/goods- When a client uses you / your business they should have a relatively high amount of trust in you to keep their goods safe, if a scenario happens and you were to lose their belongings they then have the right to sue you.
  • Professional negligence – When a client speaks to a ‘professionalism’ they are likely to expect high standard professional advice, if they are to fail to provide this and are let down there may be consequences, for instance; financial loss. The client then has a right to hold a claim against the ‘professional’ for leaving them worse off in the long term.
  • Breaking laws put on others work e.g.; intellectual property, copyright- If using someone’s work without asking for permission from the owner/creator of the asset, you are likely to be expected to pay some type of fee or may even be prosecuted.
  • Losing any type of client’s data – When losing any type of client’s data there is then a high risk of somebody else accessing their data/documents. If the documents contain any type of confidential data, the client is then likely to hold a claim against you.
  • Defamation – Libel and Slander insurance covers you against a lawsuit where someone feels you have said or written something false against them. If what they’ve said has consequences and for instance; ruins the reputation of the company. They can then sue you.

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