Even when allegations are unfounded, rigorous defence is vital

Helping people improve their businesses can be a thankless task – you are only as good as your last project and the occasional unsatisfied customer is inevitable.

That’s why complete confidence in your insurance is as important as confidence in your own abilities.   

Choosing insurance policies can get very technical.

At Howden, we have a range of specialist teams so that you can be assured your policy has been worded by someone who truly understands your profession – and the complex risks you face.   

Combined with up-to-the-minute market knowledge of the current appetites of the insurer community, this means we can find insurance that matches your real needs, for the most competitive price. 

What does consultant’s professional indemnity policy cover?

IT and consultant PI insurance supports you in two main areas:

1. Covers costs associated regulatory hearings, including defence costs

2. Pays any damages or settlements

Professional indemnity insurance (PI) is there for you when you make a mistake for which you are sued or investigated (or both).

The policies we arrange share the following 

Worldwide cover

Even if a lawsuit comes in a foreign jurisdiction, you will be able to mount a competent defence with lawyers experienced in both the sector and that geographical territory’s legislative arena. 

Retroactive claim triggers allowed

Past wrongful acts, errors and omissions can be covered under Howden-approved policies. 

Includes non-remunerated work

It is wise to have cover in place for advice given on a more informal basis, for which you were not paid. 

It is really important that your cover goes all the way back to your company’s authorisation. You could held liable for advice you gave a long time ago – buying policies online can easily leave gaps in coverage and potentially financial exposures that could come back to haunt you. Using an experienced broker helps you ensure consistent cover.   
 

We can also provide the following extensions: 

•    Unintentional infringement on intellectual property
•    Restoration costs relating to lost documents
•    Cover for liability caused by wrongful acts by subcontractors, consultants or agents. 

A word about exclusions

A common way insurance covers keep the price down is to have exclusions.
Not knowing exactly what you are getting yourself into is the road to disappointment come claim time. It is our mission to make sure you understand every clause of your policy wording. 
For example, different insurers define ‘investigation’ in different ways – when the cost of investigation and legal assistance is a critical part of the cover, that’s a really important factor. In other policies, investigative costs cover is an add-on – even though it could be a big part of the on-going business interruption during the investigation.    
If you buy your policy direct, this is something you may miss. 
 

Even when allegations are unfounded, rigorous defence is vital.

People who sell themselves as having a certain skill set or expertise put their careers on the line every time they meet a client. When you take action on their behalf, you risk being sued.  

Defence is vital when allegations are unfounded – your future prosperity depends on it. 

But if allegations are justified, then insurance is especially important. You will need to assemble an experienced legal team at considerable expense - and, even then, you may be liable for damages or need to settle out of court.