Protects professionals against claims of negligence, error, omission, or breach of duty in services provided. Covers legal defense costs and damages awarded.
| Profession | Key Risks Covered |
|---|
| Architects / Surveyors | Design flaws, measurement errors, planning failures, contract breach |
| Consultants (Management, IT, HR) | Faulty advice, missed deadlines, data breaches, scope creep |
| Engineers (Civil, Structural, MEP) | Calculation errors, specification failures, site supervision lapses |
| Lawyers / Solicitors | Missed limitation dates, conveyancing errors, conflict of interest |
| Accountants / Tax Advisers | Audit failures, tax misadvice, fraud detection failure |
| Financial Advisers / IFAs | Mis-selling, unsuitable recommendations, regulatory breach |
| Healthcare Professionals | Clinical negligence (often separate MedMal), consent failures |
| Designers (Graphic, Web, Product) | Copyright infringement, missed specs, usability failures |
| Contractors (Design & Build) | Design liability (often via PI extension) |
| Teachers / Tutors / Educational Consultants | Professional negligence, safeguarding failures |
Common Additional / Related Products
- Public Liability: Third-party bodily injury/property damage on premises/operations
- Employers' Liability: Mandatory (UK); employee injury/illness
- Directors' & Officers' (D&O): Personal liability of board members
- Cyber Liability: Data breach, ransomware, business interruption, regulatory fines
- Business Interruption: Lost income from insured peril (fire, flood, cyber)
- Commercial Property: Buildings, contents, equipment
- Product Liability: Injury/damage from products supplied
- Employment Practices Liability (EPL): Discrimination, harassment, wrongful termination claims
- Legal Expenses: Uninsured legal disputes (contract, tax, employment)
Key Features of UK PI Policies
- Claims-made basis: Must be reported during policy period (run-off cover essential on retirement)
- Retroactive date: Covers past work back to inception/continuous coverage
- Jurisdiction/territorial limits: UK only, EU, worldwide excl. USA/Canada (higher premium)
- Limit of indemnity: Per claim / aggregate (e.g., £1M/£2M, £5M/£5M)
- Excess: Per claim (£1,000–£50,000+)
Brokers (e.g., Marsh, Aon, Howden, specialist PI brokers) tailor programs. Compare via BIBA member brokers.
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