Professional indemnity insurance not just for solicitor firms, expert say

While the majority of the populace may associate professional indemnity insurance with solicitor firms or accountancies coming under fire for mis-selling or giving bad advice, experts now say that many kinds of public and private sector firms can benefit from the specialised business insurance cover.

Professional liability insurance cover is needed by many different kinds of firms in today’s day and age, these experts say.  From the traditional private sector to the not-for-profit and public sectors to even community organisations and social enterprise groups, the need to secure proper cover has spread.

More not-for-profit and public sector organisations have been coming to the realisation that they will need wide-ranging and specialised help with their insurance needs due to the increase in the number of people in British society in need of support.  The needy can range from an elderly person living on their own or a child in need of supplemental help.

Additionally, many not-for-profit and public sector firms have been saddled with the duty to provide care for our society’s vulnerable.  However more and more evidence has been emerging as of late that these vulnerable members of society – or their family members – are fully prepared to make public liability insurance claims in the event they believe their case is valid.

No longer is it just the charity looking after its learning-disabled clients or the local authority running a care home that run the risk of being hit with an insurance claim.  There are many groups that have become increasingly at risk, as any organisation that runs a nursery or school club could become liable.

Likewise any charity that offers help with rehabilitation or any kind of children’s aid organisation have a certain level of risk from claims.  All of these organisations will be in need of expert aid in securing professional indemnity insurance.

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