Products

Professional Indemnity

In this increasingly litigious world, Professional Indemnity coverage is a necessary protection for any business, large or small, that provides services or professional advice to clients.

We pride ourselves on our expertise in ensuring the right placement to protect your business. We specialise in providing tailored bespoke products that match our client’s needs, and it is of utmost importance to us and our team that we assist you in the placement of the right policy that accurately matches your requirements.

Sectors and Professions we have expertise in include:

Our extensive knowledge of the accounting profession and its particular risks has enabled us to become the industry leader in this profession.

In view of the level of information we have in our possession and the experience we have in this area, we are able to analyse a risk and set target terms for a placement. We have always achieved our target

Our professional indemnity policy for marketing and media professionals provides not only protection for your business but peace of mind for you. It is tailored towards professionals working in marketing, media, advertising, consultancy, business development and market research sectors.

The simplest mistakes can be the most damaging. Marketing, media, advertising and communications professionals are particularly vulnerable to claims of negligence for simple errors such as a typos or mismatched colours.

Unlike many professions that benefit from mandated policy wordings, architects and engineers need specialist advice and policy wordings in order to secure the right coverage.

The diversity and complexity of work performed by our clients in this sector creates the need for professional indemnity insurance which is comprehensive, flexible and provides claims support for potentially very large and intricate claims.

Design and Construction has become increasingly popular with contractors taking on a design liability, either by employing their own in-house professionals or by assuming a liability where they sub-contract out the design element. Design alterations during construction can also expose even the most basic contractor or firm.

When you undertake contracts on a design and construct basis it is you who will be the client’s first port of call in the event of a design related problem. Even if a claim is ultimately the responsibility of another party, the costs of redirecting liability can be high, and success is far from guaranteed. You will be responsible regardless of your ability to enforce an action against the negligent party.

This is where a Design and Construction (D&C) Professional Indemnity Insurance policy comes into play, protecting both your finances and your relationship with your client. When problems do occur a swift and realistic approach is needed, particularly when the problem arises during the construction period.

As an IFA, the advice you give is often used in the financial decision making of your clients. If one of your clients ever considered you have acted negligently, then the potential costs involved could be astronomical, leaving you in a vulnerable position.

Our experience in this sector enables us to assist IFAs closely with the presentation of proposal information to insurers and consequently to obtain superior terms than would otherwise have been the case.

We have specialised in the placement of PI for UK and International Lloyd’s and non-Lloyd’s brokers for over 10 years and currently act for many of the UK’s Top 100 firms.

Most of our wholesale producing brokers have found our service to be of such a high standard they have entrusted us to place their own E&O.

Insurance brokers and other insurance intermediaries now make up a very significant part of our PI offering.

We appreciate that the advice management consultants give to their clients is integral to their client’s business and requires both skill and expertise. Should this advice be challenged then it can become a costly experience for consultants to have to defend their actions.

The costs involved in hiring specialist legal advisors in order to defend any claim, however spurious, can threaten the livelihood and reputation of consultants. Having a Professional Indemnity insurance to mitigate this risk is therefore critical cover for consultants.

Technology and Communications is one of the world’s fastest growing sectors. With risk being such a moving target, the sector requires insurance products that provide up to date and responsive coverage.

It is important to us that we understand our clients so we can provide exactly the right tailored insurance coverage they need. We help our clients improve their overall risk profile through in-depth understanding of the technology sector.

We also offer cyber protection, a fast growing market that is becoming more and more important in today’s online society.

Solicitors PI business accounts for the largest single pool of premium in the UK PI Market, and for this reason this is a profession that has historically attracted significant competition from numerous brokers and insurers. We have been very selective about the number and type of firm’s that we act for and for this reason we are able to boast a very high business retention rate.

Each of our clients receives a tailor-made service with each risk broked to the Market independently.

We are different to our peer group for the following reasons:

We place each risk in the open market and do not operate any tied and/or exclusive schemes.
We do not seek to generate additional commissions from insurers and always focus on achieving the best possible deal for our clients.
We do not use any unrated insurers.

The Royal Institution of Chartered Surveyors (RICS) requires Chartered Surveyors to buy Professional Indemnity insurance, which provides a high level of cover against claims for civil liability arising during professional practice. Certain minimum limits of indemnity are also required, depending on the income of the Insured.

We have an experienced team that has dealt with a variety of large firms including multi-disciplinary practices, leading auctioneers, estate agents, surveyors, valuers and property management companies.

Any insurance arranged by us will satisfy the Professional Indemnity requirements of the RICS (and other property and construction professional bodies) and is placed with RICS Approved Insurers automatically protecting you against any liability arising from:

Professional negligence
Dishonesty
Employee infidelity
Cyber liability
Ombudsman awards
Court attendance expenses
Adjudication awards
Breach of intellectual property rights
Duties assumed under Collateral Warranties

We are a truly independent broker. We have access to all RICS approved insures and are not tied to any one insurer, which means we operate in your interests rather than those of the insurers.

We know that experience matters when it comes to recruitment and that’s why here at Bridge Specialty International we have built on our specialist knowledge to offer a bespoke professional indemnity insurance policy designed for Recruitment Consultants.

Tailored towards employment agencies, online consultants and head-hunters, our professional indemnity insurance policy can help protect you if claims are brought against you by a client due to problems with work you have done for them.

If you are interested in speaking to us about your needs, we can produce a Conceptual Report, the benefits of which are:

Independent review of your current PI programme
No cost to the firm, if Bridge Specialty International are appointed
No disruption to existing relationship with the incumbent broker and/or insurers
Completely confidential

Contact us

Our experienced team is here to help you, providing tailored solutions for the most challenging insurance needs. Contact our team for more information.