Safeguard Your Professional Integrity

Tailored Professional Indemnity Insurance for Comprehensive Risk Management

Navigate your business landscape with confidence, knowing that our Professional Indemnity Insurance is designed to protect you against claims of negligence, errors, and omissions. With our coverage, you can focus on your professional aspirations, secure in the knowledge that your reputation and financial stability are safeguarded.

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Who needs Professional Indemnity?

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Professional Indemnity Insurance is an essential safeguard for individuals and businesses providing professional services or advice. It’s particularly crucial for professionals such as architects, engineers, lawyers, accountants, consultants, and healthcare providers. These professionals are at risk of being held liable for losses incurred by their clients due to errors, omissions, or professional negligence in the services they provide. In today’s litigious society, even when you have done nothing wrong, the cost of defending a claim can be substantial, making indemnity insurance not just a safety net, but a necessary aspect of business operation.

Moreover, this type of insurance is not only for those in traditional professions. It extends to a wide range of service providers, including IT professionals, marketing consultants, and freelance professionals, who are exposed to similar risks. As businesses increasingly rely on the advice and services of external consultants and contractors, the demand for accountability rises, amplifying the need for Professional Indemnity Insurance. This coverage ensures that professionals can conduct their business without the constant fear of legal repercussions from dissatisfied clients, making it an indispensable component of risk management in any professional service industry.


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What does Professional Indemnity Cover?

Professional Indemnity Insurance offers comprehensive protection against financial losses resulting from claims of professional negligence, errors, or omissions in the course of your business activities.

Claims of Negligence

It covers legal costs and expenses incurred in defending against claims of negligence or breach of duty, ensuring that your professional reputation remains intact. This includes situations where there has been a failure to meet professional standards or when an error in service or advice has led to a client’s financial loss.

Legal Defense Costs:

This insurance provides coverage for legal defence costs associated with claims made against you, including court fees, settlements, and judgements. It’s an essential safety net that helps you manage the financial implications of legal proceedings, allowing you to focus on your business.

Loss of Documents

Coverage also extends to the loss of documents or data for which you are responsible. If documents are lost, damaged, or stolen, this insurance can cover the costs associated with their replacement or restoration, protecting you against the potential consequences of such losses on your professional services.


What makes Insured Direct better?

The Problem

Traditional insurance companies often require time-consuming processes, involving physical office visits and lengthy paperwork. Customers frequently experience slow response times, limited support hours, and a lack of flexibility in managing their policies. This conventional approach can be inconvenient and inefficient for today’s fast-paced lifestyle.

The Solution

By choosing Insured Direct, you’re not just getting an insurance policy; you’re embracing a hassle-free, modern approach to insurance that saves time, offers flexibility, and provides peace of mind.

  • Super Fast & Online

  • 24/7 Support

  • Customized Coverage

  • 100% Transparent

Make your policy work for you!

Travel Insurance Extras:

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Retroactive Cover:

This extra provides protection for work completed in the past, before the current policy was initiated, covering claims made for incidents that occurred before the policy start date. It’s particularly beneficial for professionals and businesses that have been operating for some time and need to safeguard against late-emerging claims from previous work, ensuring comprehensive coverage across their professional timeline.

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Run-off Cover

Ideal for professionals planning to retire or close their business, run-off cover extends protection for a set period after you’ve stopped trading. This ensures that you’re covered against claims made for work undertaken while you were still in business, offering peace of mind in retirement or during the transition out of professional life. It acknowledges the fact that claims can arise long after a project has been completed.

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Cyber Liability Extension

As digital data and online services become increasingly integral to professional work, the risk of cyber breaches and data loss also rises. This extension covers the costs associated with cyber attacks, including data recovery, legal fees, and expenses related to managing a data breach. It’s an essential extra for any professional handling sensitive client information or relying heavily on digital platforms for their business operations, providing an added layer of security in the digital age.

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Frequently Asked Questions

Find answers to your most pressing questions about business insurance, helping you navigate the complexities of protecting your enterprise.

What is Professional Indemnity Insurance?

Professional Indemnity Insurance protects professionals against claims made by clients for losses incurred due to errors, omissions, or professional negligence in the services provided.

Who needs Professional Indemnity Insurance?

This insurance is essential for professionals who offer advice or services, such as consultants, architects, engineers, accountants, lawyers, and healthcare providers, among others.

What does Professional Indemnity Insurance cover?

It covers legal costs and expenses for defending against negligence claims, compensation to rectify mistakes, and damages awarded to clients for losses.

Can I customize my Professional Indemnity Insurance coverage?

Yes, policies can be tailored to suit the specific risks and requirements of your profession, including coverage limits and additional extras like retroactive cover or cyber liability extensions.

Is Professional Indemnity Insurance required by law in Cyprus?

While not always legally required, certain professions may be obligated by regulatory bodies or industry standards to carry this insurance. It’s also increasingly a requirement in contracts.

How is the cost of Professional Indemnity Insurance determined?

The cost depends on your profession, the size of your business, the level of risk involved, the amount of coverage desired, and your claims history.

What is the difference between Professional Indemnity Insurance and Public Liability Insurance?

Professional Indemnity Insurance covers claims related to professional advice or services, while Public Liability Insurance covers claims of bodily injury or property damage sustained by third parties due to your business activities.

Can I get Professional Indemnity Insurance if I'm a freelancer?

Absolutely, freelancers who provide professional advice or services can greatly benefit from this insurance to protect against liability and financial loss.

What is a retroactive date in Professional Indemnity Insurance?

A retroactive date is set in the policy to cover work performed before the policy start date. Claims related to services rendered after this date are covered, offering protection against historical liabilities.

How can I file a claim on my Professional Indemnity Insurance?

How can I file a claim on my Professional Indemnity Insurance? To file a claim, you should notify your insurer as soon as possible with all relevant details of the claim or circumstances that might lead to a claim. Your insurer will guide you through the claims process and what documentation is required.

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