Frequently asked questions...

Have any questions?

We have assembled together those that are frequently asked that may save you the trouble.

How can I reduce risk?

It is widely know that prevention is better than cure; however claims cannot always be avoided. By having robust risk management procedures in place can make it much easier to defend allegations against your business.

  1. Make clear what services you are providing - Set the limits of what services you are providing, clear in writing at the earliest possible stage of business interaction with you client.
  2. Keep everything well documented - Make sure projects are well documented. Ensure that you set out specific responsibilities in your contracts with clients beforehand and deal with complaints promptly.
  3. Have a quality control system - By having a quality control mechanic in your business, this can prevent any potential technical errors and omissions from occurring.
  4. Training and recruitment - Any firm's greatest asset is its people. Therefore it is worth investing time and money to hire the right staff, train them and keep them up to date with regulation changes.
  5. Review your procedures - Policies and procedures should be regularly reviewed to ensure they are meeting the purpose for which they were designed.

How do I decide on the level of professional indemnity cover that I need?

This decision should be centred on the size of your contracts with clients, with emphasis being on the worst case scenario of a financial loss that a client could suffer if you are negligent. However sometimes contractual agreements may stipulate a minimum level of cover needed.

I only need cover for 6 months, as it is the length of my contract. Can you do this?

Short period Advocates Professional Indemnity Insurance policies are not available.

Why do you want to know my financial turnover?

Turnover is requested as it is a rating variable and provides the best idea of how active you are the size of your business. From an insurers' perspective, a company earning £50,000 is of less risk than a company earning £500,000.

What does the condition 'retroactive date inception' mean?

If this condition applies to your quotation, any claims relating to work done prior to the start date of the policy will not be covered.

What does 'claims made basis' mean?

This means that you claim under the policy in force at the time you are advised of a third party's intent to claim. This is opposed to the clause 'claims occurred basis' where you claim under the policy in place at the time the incident occurred.

What if something about my business changes?

Your policy will need to be reviewed and amended to incorporate the new changes. By not amending it with your changes, you run the risk of invalidating any future claims made.

What if my insurance requirements change?

Your policy can be amended to fit your new demands and needs even after it has been taken out.

Who can you provide Insurance for?

  • Sole traders
  • Partnerships
  • Limited companies

Do I need to fill out any forms?

No, everything is done by an online declaration and this is what the policy is based on.

What do I need to look out for when obtaining a policy?

As a rule check that the general policy conditions suit your business and that you are covered for the right things. Also make sure that you have read any endorsements that are provided with the quotation which may exclude certain circumstances or business activities.

When do I get my insurance documents?

Once you have made payment they are available to download immediately.

Is there an excess if I need to make a claim?

Yes, your policy schedule which will detail each deductible next to the sums insured

If you have any specific questions that we have not covered, please drop us an This e-mail address is being protected from spambots. You need JavaScript enabled to view it - we will be delighted to help with your query.

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