Accountants professional indemnity insurance

Why choose Hiscox Accountants Professional Indemnity Insurance?

We are approved and meet the criteria set by the accountants’ professional bodies ICAEW, ICAS and ACCA.

You will be covered for:

• negligence; such as giving incorrect advice or making a mistake in your work
• any civil liability; this means if a claim occurs because of your business activity for a client and we haven’t specifically excluded it, it’s covered
• infringement of intellectual property rights like copyright or trademark
• client documents that are lost, stolen or damaged in your care, including data
• your own losses from dishonesty by a director, employee or self-employed freelancer contracted to you and under your supervision
• Professional indemnity insurance, also known as PI insurance or indemnity insurance, can help protect you if claims are brought against you by a client due to a problem with work you have done for them. 
  
  
  Our professional indemnity policy will offer cover for compensation you may need to pay to correct a mistake or cover any legal costs due to negligence, such as giving incorrect advice or making a mistake in your work.
  
  
  
  

  You may need professional indemnity insurance if you:

• regularly give advice to your clients
• handle data belonging to a client or business
• are responsible for a client’s intellectual property
• provide a professional service and could be challenged on your work. You may feel confident in the quality of your work, but any small business is vulnerable to a claim of negligence when professional advice or services fail to meet a client’s expectations and cause financial loss.

Why choose Hiscox Professional Indemnity Insurance?

• Choose from 7 levels of professional indemnity insurance cover, up to £2 million
• We offer a range of industry-specific policies to suit the risks you face in your particular profession
• You can tailor our flexible professional indemnity insurance policies to suit the needs of your business and make changes at any time, just tell us whenever you want to increase or decrease your level of cover
• Professional indemnity insurance quotes are available online or by phone
• Pay for your policy by interest-free monthly Direct Debit instalments.

Find the right professional indemnity insurance policy for your profession or for further detailed information on Hiscox Professional Indemnity Insurance read our cover information

•  

  Professional indemnity insurance for small businesse

  Specific industries face specific risks. With our specialist understanding of a wide range of industries we have developed professional indemnity insurance suited to the risks you face in your profession; allowing you to choose the right policy options to protect your business.
  
  

  Professional indemnity insurance cover information

  Hiscox Professional Indemnity Insurance can help protect you if claims are brought against you by a client due to problems with work you have done for them.
  
  
  Our professional indemnity cover protects you against risks such as:
  
  

  Risk	Example
  Negligence	Failing in your ‘duty of care’ to your client, such as giving incorrect advice or making a mistake in your work.
  Intellectual property	Unintentional infringement of copyright, trademarks or broadcasting rights. This includes any limitation or passing another’s products/services off as your own.
  Loss of professional documents/data	Includes damaged, missing or destroyed data belonging to a client or business while in your possession.
  Dishonesty	A director, employee or self-employed freelancer contracted to you is involved in a theft from the client.
  Defamation	Using or producing any material about other companies that may cause offence and that risks going beyond the intended internal audience, such as using case studies during an internal training session.

  
  

  Find the right level of cover for your business

  
  
  When working out the right level of cover for your business, you should consider the:
  
  
• size of the contract and client
• potential cost of your defence costs if it came to the worst
• maximum compensation that could be awarded against you.

• Hiscox Management liability insurance

  Our portfolio is specially designed to cover both the public and employees in your business, available exclusively through our brokers.

   

•  

  With Hiscox you can be confident, knowing that our management liability insurance portfolio can protect the financial wellbeing of both your company and the personal wealth of your directors in situations like these:
  
  
• a Health & Safety investigation following injury to an employee leading to substantial legal costs
• an allegation of sexual harassment, which results in legal costs and a potentially sizeable award
• fraudulent employee activity, leading to a significant gap in your cash flow

Highlights of the Management liability insurance Portfolio include:

Directors’ And Officers’ Liability

This covers your personal wealth for defence costs incurred during a claim and awards made against you. For example:

• claims by investors or other shareholders (including other directors)
• defence costs and awards of claims arising from your personal involvement with the administration of any company pension

Employment Practice Liability

This covers your company and your employees against defence costs and awards of employment claims arising, for example:

• from allegations of sexual harassment or wrongful dismissal by employees
• from allegations of incorrect selection for redundancy

Corporate Legal Liability

This covers your company against defence costs and awards associated with events such as:

• allegations you have breached regulations, for example Tax, Health & Safety or Trading Standards
• claims by investors or shareholders
• direct financial loss from employee dishonesty