Insurance for Professionals 

Each professional and their business is different, with unique insurance needs. That said, here are two types of business insurance that are commonly purchased by professional service providers: 

• Professional Indemnity insurance. Professional Indemnity insurance protects you against losses claimed by a third party due to alleged or actual negligence in your professional services or advice. Your Professional Indemnity insurance meet the associated compensation payable to a third party together with your defence costs (which can include legal costs, investigator costs and expert fees).   
• Public Liability insurance. When you meet with your clients, at your office, at your client’s home or at the coffee shop, there is the potential for mishaps and accidents. Public Liability insurance is designed to provide protection for you and your business in the event a client, supplier or a member of the public is injured or sustains property damage as a result of your negligent business activities.   

Cyber Liability insurance is a type of business insurance product which protects your business against both the legal costs and expenses (including compensation payments) related to cybercrime incidents.

Your coverage may generally include cover for expenses and legal costs relating to the following:

• Data breaches
• Theft or loss of client information
• Business interruption costs
• Forensic investigation
• Data recovery
• Extortion
• Fines and penalties
• Crisis management costs (to restore your businesses reputation after an attack or data breach)
• Legal costs from any ensuing civil action taken against you or your company

Business Insurance is an insurance package designed to provide cover for your business contents, stock, tools and commercial premises when an insured event occurs (such as fire, storm, theft or even accidental damage). A Business Insurance package can also cover your portable equipment, glass and for loss of revenue due to business interruption in specified circumstances. In addition, cover is available for public liability, tax audit, employment practices and statutory liability risks.