What are the typical professions that require Professional Indemnity cover?

Professional Indemnity Insurance

 

If you offer your knowledge, skills or advice as part of your profession – either as a self-employed individual or for a company ­– you should consider taking out Professional Indemnity insurance.

Some professions are required to have Professional Indemnity insurance by their professional bodies or regulators – these include:

Accountancy

  • Accounting & bookkeeping
  • Payroll services
  • Taxation consultancy
  • Audit, Management consultancy
  • Company registrar / company secretarial
  • Executorships, directorships or trusteeships
  • Insolvency, liquidation and receiverships
  • Mergers & Acquisitions
  • Corporate finance
  • Fund management
  • PLC work
  • Financial services
  • Mortgage broking

 

Construction (including Architects, Engineers and Design & Construction)

  • Architectural services
  • Quantity surveying
  • Building services engineering (inc. electrical, mechanical and HVAC)
  • Planning supervisory / CDM activities
  • Town planning activities
  • Civil / Structural engineering
  • Project co-ordination
  • Project management
  • Land surveying / setting-out
  • Cladding / curtain walling / glazing
  • Foundations / underpinning / piling
  • Soil engineering / site investigation
  • Process engineering
  • Chemical / petro-chemical engineering
  • Nuclear / atomic engineering
  • Naval / marine architecture

 

Surveyors

  • Estate agency / lettings
  • Investment agency
  • Property management
  • Auctioneering
  • Quantity surveying
  • Rent reviews / lease renewals
  • Building surveying
  • Land surveying
  • Architecture
  • Project co-ordination
  • Project management, setting out
  • Fine art auctioneering
  • Building surveys
  • Valuations
  • Sole practitioners’ undertaking survey and valuation work

 

Technology

  • Service provider – data warehouse / storage / hosting
  • Consultancy – Advices on systems requirements (no sale)
  • Consultancy – Project management (including sales)
  • Service provider – Web hosting
  • Software – Distribution of third party software
  • Software – Package writers
  • Software – Customised or tailored Software – Bespoke
  • Telecom hardware
  • Manufacture of electronic components
  • Manufacture of computers and other information processing equipment
  • Internet service providers
  • Manufacture of process control equipment
  • Manufacture of accumulators, primary cells and batteries
  • Manufacture of electronic valves and tubes and other electronic components
  • Games developers

Many other businesses choose to take out professional indemnity insurance to protect themselves against claims and for peace of mind ­– examples of these include, but are not limited to, the following:

  • Advertising agencies
  • Agricultural / Farming Consultancy
  • Brand Development Management
  • Business Advisory Service
  • Business Training Consultancy
  • Careers Advisory Service
  • Caretaking Services
  • Charities
  • Counselling Service (not Psychotherapy)
  • Design agencies
  • Dietician
  • Estate Agents
  • Event Organisers
  • Financial Advisors
  • Fire Risk
  • First Aid Trainer
  • Garden Design
  • Gym/Fitness Instructors
  • Health & Safety Consultants
  • Health & Wellbeing
  • Home Tutors
  • Human Resources Consultancy
  • Interior Designers
  • Jewellery Consultancy
  • Marketing agency
  • Media agency
  • Music Teaching
  • Nutritionist
  • Party Planners
  • Photographer
  • Property Consultants
  • Public relations agencies
  • Recruitment Agency
  • Security Consultancy
  • Solicitors
  • Trade Associations
  • Travel Consultancy
  • Wedding Planners
  • Will Writing

 

Remember:   If you offer your knowledge, skills or advice as part of your profession – either as a self-employed individual or for a company ­– you should consider taking out Professional Indemnity insurance and possibly a Cyber Insurance extension