There has been a growing
interest in the insurance policy Professional Indemnity Insurance from new and
established businesses. The policy was originally brought together to cover the
major professions and demand from regulating bodies such as the law society and
chartered institute of accountants along with the (ARB) Architects Registration
Board made it a requirement for their registered member to arrange covers and
therefore solicitors, architects and accountant Professional Indemnity Insurance
became compulsory.
Sometime later Insurance
Brokers estate agents and Independent Financial Advisors regulators made
Professional Indemnity Insurance a requirement for those professionals to
operate their businesses.
As the demand for companies
and their directors and officers to act in a more responsible way towards their
clients so the PII policy became more popular, however, instead of perhaps being
a nuisance and extra cost to the business, the insurance policy offered great
protection to the company and its staff.
To give definition and have
a fully explained Professional Indemnity Insurance policy and what it covers you
for we can recommend speaking to a specialist PII broker they will without a
doubt be the best option to obtain quotes and compare the different Professional
Indemnity Insurance covers available for both traditional professions and
contractors. We highly recommend not only going to one supplier to purchase your
cover because there is a very wide choice of wordings available not to mention
costs you may go on the internet to find quote and buy this type of policy
however be careful because very few companies on the first page of Google can
give you a selection of Professional Indemnity polices to select from. Most are
direct insurers with only one option when you go to purchase.
There
is only one company in the UK that can offer you up to 9 different (PII)
insurers at once in around 60 seconds and although this is out company
Professional Insurance Agents Ltd we do offer the wider choice both in price and
policy wordings and are also a specialist broker in this area.
