IT Contractors

As an IT Consultant, the nature of your work means that the financial consequences of any error you make could be very significant. If a client should claim that they have suffered a financial loss as result of your work, Professional Indemnity Insurance covers your legal defence costs and damages awarded against you.

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What insurance do I need as an IT Consultant?

The core cover is Professional Indemnity insurance which relates to the advisory element of your work. If a client – or indeed any third party, such as a customer of your client – claims that they have suffered a financial loss as a direct consequence of your work, they could pursue you for compensation.

They may claim that you gave incorrect advice, or that you omitted to give important advice when you should have done. Professional Indemnity Insurance helps you defend such claims and you can choose a level of indemnity of up to £5m to pay towards your legal costs and damages awarded against you. Our policy works on a ‘claims made’ basis, meaning that if you receive a claim whilst your policy is in force, it will be covered – even if the claim relates to work you did before you took out the policy. This effectively gives you full retroactive cover for your previous work.

As well as Professional Indemnity cover, you can add any of these additional covers to your policy:

  • Public Liability Insurance which covers any injury or property damage suffered by your clients or other third parties.
  • Business Equipment Insurance which protects your equipment at home and whilst travelling between locations.
  • Employers’ Liability Insurance is a legal requirement if you employ staff and covers your liability if they are injured in the course of their work.
  • Management Liability Insurance can protect you if you operate as a Limited Company and includes cover for IR35 Tax Investigations.

How common are claims against IT Consultants?

Thankfully, claims against IT Consultants are rare. When such claims occur though, they can be costly, complex and time-consuming. Because of this, it’s important that you get the right advice quickly, should the worst happen. As more and more IT professionals continue to work independently and more companies are receptive to using external IT consultants, it is possible that claims will increase accordingly.

Professional Indemnity cover provides the support you need 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.

Why should I deal with iPro for my Professional Indemnity Insurance?

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 IT 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.

Get a quote today

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.

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