Claims Management Professional Indemnity Insurance
If your business operates in the area of Accident and Claims Management or handling Personal Injury Claims, then you are now legally obliged to have Professional Indemnity Insurance cover in place. We can help you to arrange the required cover very quickly and easily.
Claims management professional indemnity insurance protects your business against claims made against you for professional negligence that have caused your client a financial loss. These claims can be very costly and can cause severe financial difficulties to companies that don’t have the appropriate PI cover in place. A professional indemnity policy will cover not only any claims payment that has to be made to a client but also the legal defence costs as well. Often it is the legal bills that represent the most significant element of the claim.
We certainly advise any client within the accident claims management sector to arrange the cover. We deal direct with the UK’s leading insurers which enables us to give our clients the best combination of premium and cover possible.
Our Quick Broker Service
Complete our Online Quotation Form and we’ll get back to you as soon as we can. Alternatively complete our Quick Quotation Form in Microsoft Word format and email it to us at firstname.lastname@example.org, or simply upload your existing proposal form.
Or… call us on 01270 252 252 to speak to one of our Advisors.
Useful information on compensation regulations
The recent Compensation (Claims Management Services) (Amendment) Regulations 2008 (made pursuant to the Compensation Act 2006) make amendments to the Compensation (Claims Management Services) Regulations 2006. The 2008 Regulations come into force in part on the 1st of July 2008, bringing with it a requirement for authorised persons who provide representation for claimants in the area of personal injury claims to take out and maintain professional indemnity insurance, complying with the specified minimum terms. Regulation 3 of the Compensation (Claims Management Services) (Amendment) Regulations 2008 amends Regulation 21 of the 2006 Regulations, stating the requirements as follows:
“Minimum terms of professional indemnity insurance
- The contract of professional indemnity insurance must—
(a) comply with the requirements in paragraphs (2) to (5);
(b) provide cover where an authorised person or an employee —
(i) represents a client in the course of providing or purporting to provide regulated claims management services; and
(ii) may be liable for their actions.
The minimum level of indemnity in the contract of professional indemnity insurance must be–
(a) £250,000 for a single claim; and
(b) £500,000 for aggregated claims.
- Where the contract for professional indemnity insurance includes an excess, this must not be greater than £10,000 per claim.
- The contract for professional indemnity insurance must contain cover in respect of legal defence costs.
- The contract for professional indemnity insurance must provide for continuous cover for all claims —
(a) first made against the insured during the period of insurance; or
(b) made against the insured during or after the period of insurance and arising from claims first notified to the insurer during the period of insurance.”
(text extracted from The Compensation (Claims Management Services) (Amendment) Regulations 2008)
Cover to meet your specific needs
At John Heath we are able to provide professional indemnity cover that not only meets, but exceeds the 2008 regulatory requirements. If you would like to discuss your requirements further, then please get in touch and talk with one of our advisors. Our aim is to provide the professional indemnity insurance policy that is right for you.