Professional indemnity insurance is a form of liability cover, giving you protection in the event of claims by a third party for professional negligence. This will cover things such as design, advice and specifications, and differs from product liability in that it covers claims arising from the provision of professional services rather than the sale of physical products.
While smaller businesses in some professions may be comfortable buying ‘off the shelf’ cover direct from insurers at relative low premiums, it is worth noting that professional indemnity insurance can be a complex and unfamiliar class of insurance.
For many professions, the risk of being sued is an occupational hazard and damages and defence costs can accumulate into the millions of pounds. Companies should always utilise the services of an insurance broker with a specialism in professional indemnity to ensure that the most appropriate cover is arranged.
KEY AREAS OF FOCUS
Our Legal Practices Group is made up of specialist practitioners committed to providing insurance and risk management solutions to the legal services industry. It is widely acknowledged (both by clients and insurers), as being one of the most experienced of its kind. We have built one of the largest market shares of law firms in England & Wales and currently represent over 1,000 firms. These range from sole practitioners and high street firms, to the larger City, national and international practices.
Property agents and chartered surveyors
Our team has developed an insurance and risk management service designed specifically around the needs of property consultants and surveyors. We are constantly reviewing and evolving our offering to ensure we cater for the ever changing risk profile of the industry such as the impact of technology and cyber threats.
Through our strong trading relationships across a broad range of insurers, we are well positioned to access insurers that are suited to individual needs, which we recognise will vary considerably between firms. We work tirelessly to ensure that our clients are offered choice and this remains central to our proposition for clients.
We have secured exclusive professional indemnity insurance schemes for firms regulated by the Council of Licensed Conveyancers (CLC). These exclusive schemes are underwritten by leading “A” rated law firm insurers to ensure we are able to offer a professional indemnity solution to firms of all sizes. Our legal services team is one of the largest and most experienced in the UK and we are committed to providing CLC regulated firms with competitive professional indemnity protection.
WHAT WE DO
We offer an enhanced service proposition designed for all professional service firms that we continuously review and evolve to ensure we cater for the ever changing risk profile and exposures that our clients face. Our clients are all individual businesses and, as such, we work with them to tailor our services and provide solutions that are designed to meet their needs. Our key services include:
We will set a renewal strategy, agree key objectives and desired outcomes, agreeing the insurer selection criteria to drive the negotiations and not be passive participants.
NEGOTIATION AND PLACEMENT
We will arrange meetings with interested insurers to provide a platform to present more about your business before renewal negotiations commence.
We deal directly and extensively with all suitable insurers, including those where only JLT can negotiate terms.
All our clients have a dedicated client team which is there for all your day-to-day requirements and who will provide a full consultative service throughout the year.
CLAIMS ADVOCACY AND MANAGEMENT
Our claims advocacy and management team consists of qualified lawyers and claims experts who work alongside our clients every step of the way, adding value with disputes or complex matters to reach the required outcome.
We are specialists. Our deep expertise and entrepreneurial culture give us the insights, creative freedom and tenacity to go beyond the routine and deliver better results for our clients. Heres what makes us different:
Our dedicated team works alongside our clients to create lasting relationships. We are by your side throughout the year providing advice on risk management, claims and other related issues.
We provide a personal and trusted service for our clients.
Our team of experts are based throughout the country to provide local, hands-on service and support.
Our in-house team of highly experienced claims professionals specialise in managing, negotiating and resolving claims quickly and effectively.
We have has strong trading relationships with the majority of the global insurance market. As a result, we are well positioned to access a wide range of insurers with an appetite for underwriting professional indemnity insurance.