Insurance for designers
We understand as a designer, you're an expert in your field, providing a professional service. However, even the most experienced professionals make mistakes, presenting risks to you and your business. It's essential to have the right professional indemnity (PI) insurance in place that offers the necessary protection.
Here at Marsh Commercial, you can rest assured you're in safe hands. We'll give you:
- Confidence
We know you're dedicated to delivering specialist advice. You can be confident that we're committed to working with leading insurers on your behalf. We'll arrange appropriate cover – on competitive terms.
- Expertise
Our team have a wealth of knowledge in arranging commercial insurance for professionals. We take time to understand your business to ensure that the protection you have in place is suitable for the risks you face.
- Service
We're here for you when you need us – from providing tailored advice to walking you through the claims process. So while you focus on supporting your clients, we're here to protect you, making insurance one less thing for you to worry about.
How our team of PI experts can help you
We take time to understand the risks you face as a designer and advise how to manage them. We're here to make sure you have the right PI insurance to protect you and your business.
Get in touch with a professional indemnity insurance expert
Need expert advice? Call the team now, or complete an online form and we'll call you.
What cover can PI insurance offer?
If you're responsible for causing financial loss to your client due to inadequate advice, services or designs you have provided, your professional indemnity (PI) policy will protect you. Any legal costs and expenses involved in defending a claim, as well as compensation payable, will be covered.
As a designer, you strive to avoid making mistakes, but occasionally they do happen. PI insurance protects you and your business if your client alleges a financial loss for:
- a breach of a professional duty of care or unintentional breach of contract
- unintentional breach of confidentiality or copyright
- loss of documents or data
Just as your clients have individual needs, not all PI insurance is the same. We can arrange a policy that provides the right protection you need to support your clients with confidence. You'll receive these benefits as standard on most PI policies:
- capped excess
- free tax advice helpline for you and on behalf of your clients
- instalment facility
- dedicated claims team
- free 24-hour legal and counselling advice helplines for all partners
Professional indemnity insurance FAQs
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The cost of PI insurance varies depending on different factors, such as the level of cover you need, the number of people you employ, your annual turnover and the risks associated with your business activities.
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If you're found responsible for causing financial loss to your client due to an error or omission in the services you have provided, professional indemnity (PI) cover protects against legal costs and expenses involved in defending a claim, as well as compensation payable.
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Insurers do take cases to court, where it makes commercial sense. It's also important that they have the right legal advice to do this and that they stand a good chance of winning.
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For some professions, regulatory bodies make it compulsory to have PI cover in place to carry out their work. Other professionals must have PI as part of a contractual obligation, whilst many choose this cover because of the protection and security it provides if their advice or service delivered fails to meet a client's expectations.
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You are legally required to have cover for compensation of at least £5 million, but most policies will offer cover for £10 millon. Your premium cost is usually based on several factors: the nature of your business, how many people you employ (and/or the payroll cost) and any previous insurance claims. In larger organisations, or where several employees are based in one location, increased limits are recommended.
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This depends entirely on the policy. You'll need to ensure that it provides adequate cover for your business's professional service and the risks you may face.
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PI insurance protects you if you are found responsible for causing financial loss to your client due to a professional error or omission. A PI policy covers legal costs and expenses you may incur defending a claim, as well as any compensation payable if you are found responsible.
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The increased cost of claims means that your professional indemnity insurance needs to be substantial to ensure the claims can be covered.
