Why your business needs professional indemnity insurance cover
A claim for negligence, error or omission, made against your business could be devastating.
If you’re not prepared, the events which follow could end up costing far more than money. They could damage your reputation, demotivate your staff, and jeopardise existing customer relationships as well as future business prospects.
ITIC policies reduce all such risks.
ITIC’s comprehensive professional indemnity insurance includes cover for losses caused by errors or omissions, fraud, breach of intellectual property rights and other related risks.
Positive planning and risk reduction
Any party offering professional services to transport operators in the marine, aviation and rail industries – whether providing advice, information, designs, consultancy, or similar services – owes a duty of care to its customers.
Even if your business uses subcontractors, you are liable for the work they produce.
Sometimes the slightest slip can rebound with unimaginable consequences. Ensuring proven and reliable professional indemnity cover is in place for your business is about making sure you have professionals and robust resources on your side for whenever they might be needed.
ITIC is your contingency plan for if things go wrong. We provide cover, support, expert advice, and on-the-ground help you can depend on for a positive result.
Professional indemnity insurance explained
Professional indemnity insurance provides cover for claims brought against you for losses suffered by your customers as a result of your negligence or error and omission. These claims can extend to subcontracted services for which you were the agent, representative or lead contractor.
ITIC additional insurance policies
As a mutual insurer, serving the needs of more than 2,000 members, ITIC offers a range of additional specialist products for those who provide professional services to the transport industry, particularly marine, aviation and rail customers.
In addition to ITIC’s professional indemnity cover, and legal costs cover, you can purchase insurance for debt collection, directors’ and officers’ (D & O) insurance, and policies for loss of commission, loss of management fee, cash in transit and money insurance.
Loss prevention and legal advice
ITIC works as a partner for your insurance and risk management needs, providing expert insight and advice to take the worries off your shoulders. ITIC provides expert advice on loss prevention and legal issues, together with local help and support from a worldwide network of correspondents.
Everyone makes mistakes...
Is your business ready for the ‘worst case’ scenario?