- PROFESSIONAL INDEMNITY INSURANCE -

Professional Indemnity Insurance is a form of liability insurance. It is also known as professional liability insurance and, in some cases, it is referred to as errors and omissions insurance or malpractice insurance, as this is what it primarily deals with.

Professional Indemnity Insurance protects your business in the event of breach of professional duty.  It helps to safeguard those who provide professional advice and those who provide services, from bearing the full cost of defending against a negligence claim made by a client and from damages awarded in such a civil lawsuit.

Traditionally, the types of professions that require this type of insurance are engineers, architects, solicitors, the medical profession, insurance brokers, accountants, consultants of various kinds and financial services- basically any business whereby the client relies on you for your professional advice or your service, in a given area.

If there has been an alleged oversight or an alleged lapse in judgement, then a client may sue for damages on the basis that the advice administered was negligent, incomplete or inappropriate.

If an individual fails to exercise his or her duty of care when engaged to provide a service to a client, he or she may be liable for losses incurred by a client and/or third parties.

Cases such as these can prove very costly, even if your business is innocent of the charge. If you find your business on the receiving end of such a legal claim, professional indemnity insurance will protect you from bearing the full cost of defending against a negligence claim made by a client, and from the cost of damages awarded. In certain cases, professional liability coverage sometimes provides for the defence costs, including when legal action turns out to be groundless.

Besides the understandable financial and reputational reasons for holding adequate Professional Indemnity Insurance, it may also be a legal requirement of your regulatory body   or association such as ACCA Ireland and Chartered Accountants Ireland.Give us a call today, and a member of our friendly team will be happy to walk you through the various options available to you.

Spread the cost of your cover over 10 monthly instalments by low cost direct debit.

INSURANCE COVER OPTIONS

We provide the following insurance covers:

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Shops

If you run or manage a business, protecting yourself and your earnings against the unexpected is essential to your risk management strategy.

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Tradesmen

At Murphy Stuart we specialise in Contractors Insurance .We advise a broad range of construction companies- from large expansive construction companies, to small family-run building operations.

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Van & Motor Fleet

At Murphy Stuart, we have many years of experience in the area of motor insurance. As a result of this, we have garnered a reputation for being in a position to provide you with the best deals.

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Professional Indemnity

Professional Indemnity Insurance is a form of liability insurance. It is also known as professional liability insurance and, in some cases, it is referred to as errors and omissions insurance or malpractice insurance.

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Pubs & Restaurants

Commercial Property Insurance covers you for things like rent, rates, salaries, transport; rent, rates, salaries, gross profits, revenue and any increases in your cost of working.

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Offices

Commercial Property Insurance covers you for things like rent, rates, salaries, gross profits, increases in your cost of working and alternative premises hire.

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Hair & Beauty

Talk to us about taking out quick, comprehensive cover if you own or run a beauty salon, hairdressers or massage parlour.

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Landlords

At Murphy Stuart, we understand the importance of protecting your assets, particularly if you own a property that provides you with a source of income.

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