As an Engineering Consultant, the specialist nature of your work and the level of precision involved mean that even a slight error can be very costly. If a client should claim that they suffered a financial loss as a result of your work, Professional Indemnity Insurance covers your legal defence costs and damages awarded against you.
The advisory element of your role is covered by Professional Indemnity insurance, which is included on all of our policies. You can select a level of indemnity of up to £5 million and the policy is on a ‘claims made’ basis, which means that as long as your policy is in force, claims will be covered as they arise – even if they relate to old projects from before you took out the policy.
Compensation claims can occur when a third party – typically a client – claims that they have suffered a financial loss as a result of their dealings with you. They may claim that you made errors in the advice you gave, or that you neglected to give important advice when you should have done.
As well as Professional Indemnity cover, you can add any of the following additional covers to your policy:
Thankfully, claims against Independent Professionals are rare and there are few specific examples of large claims against Engineering Consultants. When such claims occur though, they can be costly, complex and time-consuming. Because compensation claims are a legal matter, it’s important that you get the right advice quickly should the worst happen. Even false or spurious claims need specialist support in order to defend them successfully.
Professional Indemnity cover provides this support through ourselves, the Axa claims team and where necessary a solicitor, to help you defend the claim. Rather than pay for any legal support upfront, you simply report the claim and we will guide you through the process.
As part of Bridge Insurance Brokers – one of the UK’s Top 50 brokers – we hold ‘Chartered Insurance Broker’ status. This is in recognition of our technical knowledge, capability and ethical business practices. We arrange cover for Engineering Consultants with Axa Insurance UK – an established insurer with a strong reputation for claims service. You can spread the cost of your insurance with us through interest-free instalments.
As an Independent Professional, the cover you need to protect yourself from compensation claims needn’t be expensive. You can get an indicative quote very quickly, be covered within minutes and spread the cost through interest-free instalments. All of our policies include Professional Indemnity cover – with full retroactive cover – as standard, with cover provided by AXA Insurance plc.Start your quote
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