Professional Indemnity Insurance For IT Contractors And IT Consultants
We specialise in arranging insurance policies for small firms such as IT Contractors, IT Consultants, Web Designers, Software developers and IT Project Managers. We insure the self employed, partnerships and limited companies for Professional Indemnity, Public Liability, Employer's Liability, Office Insurance and Legal Expenses.
What is Professional Indemnity and why you need it.
You may be wondering why you should buy a Professional Indemnity insurance policy (sometimes called PII) at all.
As an IT Contractor or Web Designer, you provide knowledge, advice or skills to your client. Professional Indemnity insurance covers you against the cost of claims from clients who are not satisfied with your work or where you have caused them a financial loss due to your negligence. It also covers the legal fees related to fighting a claim.
For example, a client of ours accidentally entered the wrong email address into an e-commerce website and caused considerable loss of income for their customer. The loss of sales was worth over £45,000, but the Professional Indemnity insurance that we arranged, covered the cost of the claim and saved our client from bankruptcy.
Another example of a claim is an IT firm who installed a computer system including an automated back-up system for their customerís data. Unfortunately, the back up system installed was not suitable for the system and it failed, causing their client great financial loss due to the loss of data.
In short, our PI insurance will cover you for:
- Negligence (advice, or ommision of advice or service that has led to loss of business to your client)
- Supplying products or services such as software or hardware
- Negligent transmission of malware such as computer viruses and Trojan horses
It is a fact of life that you are involved in a very complex business and mistakes can happen to anybody. Very often, a PC can be fixed by simply switching it on and off. However, most other IT problems need expert help and when you need an expert insurance solution we know that you will be pleased that you chose Versatile Insurance Professionals.
If you would like to know more about professional indemnity, or are unsure about what policy is right for you, get us to call you or call us on 01837 658 955.