Professional Indemnity Insurance

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PROFESSIONAL INDEMNITY INSURANCE | Coverage For Your Business

Professional indemnity insurance is an important type of business insurance, especially for businesses that give advice or provide a professional service to clients. It can cover compensation claims if a business is sued by a client for making a mistake that leads to financial loss.

Do I Need Professional Indemnity Insurance?

Getting a handle on the necessary business insurance plans a firm needs can be challenging. As a result, we have consolidated a handy guide for small businesses out there detailing the important coverage plans to buy in Singapore. If your business provides consultation services, having a professional indemnity insurance set up is an essential part of your business insurance coverage.

Some good examples of these professions in the commercial sector are health professionals, real estate agents, accountants, management consultancies or law firms.

As firms in the services sector manage client expectations on the daily, having professional indemnity insurance set in place can cover legal expenses that arise out of negligent services or advice. The coverage could also include compensation claims if your clients incur financial losses due to errors or misrepresentation on your part.

For specific sectors such as:

  • Financial institutions: banks, financial services, private equity firms and asset managers.
  • Specific industries like airline or space providers, CMT (communication, media, technology) and IT consultancy or services providers (application, IaaS, Paas, SaaS).

We are able to design tailor-made solutions regarding any insurance that is needed and specific risks on these sectors.

How Much Professional Indemnity Insurance Do I Need?

This can be a bit tricky to understand. Over here, we design professional indemnity insurance cover levels to fit your business and your industry. It can be difficult to determine the coverage you need, so a good place to start is to give us a call to guide you through the process as we work on tailor-made solutions for your business.

What happens next? 

  • If you are interested in acquiring Professional Indemnity Insurance, get in touch with our business Insurance Team. We will get back to you within 1 business day and arrange a time to talk or meet.
  • A member of our team will meet with you and discuss what your company needs. We will take all of that information and then use our international network of global insurers to tailor a bespoke package that suits your requirements of your growing business.
  • After you have signed onto a policy with us, we will service your account using our award-winning brokerage services.

DO YOU NEED TO TALK TO SOMEONE ABOUT PROFESSIONAL INDEMNITY INSURANCE?

Give us all on +65 6439 8026 or leave us a message below and we will get back to you as quickly as we can!