Most professionals carry professional indemnity cover. If you sell professional advice, your knowledge or skills, you may wish to consider taking out professional indemnity insurance.
If, for example, you made a mistake or are found to have been negligent in one or all of the services that you provide for clients, they may bring a claim for compensation against you. Professional Indemnity Insurance protects you against compensation actions by a client. Without this insurance, the financial security of your business could be threatened.
Kevin Gaskin, DipFA
Financial Adviser
Kevin Gaskin is the founder, owner and manager of Fidenti Financial Planning.