TSA Forum Professional Indemnity for Security Consultants – Explained

  28th April 2016 at 6:22am in General Interest

Professional Indemnity for Security Consultants – Explained

Professional Indemnity for Security Consultants – Explained

As a security consultant, you provide a vital service to your clients. You’re often trusted to make significant contributions to your clients’ business and you’re expected to be experts in your field.

But because we have experience of providing professional indemnity insurance for security consultants just like you, we know that despite your best efforts mistakes can happen.

Our professional indemnity insurance cover is designed for security consultants and protects you from the cost of settling or defending a customer’s claim alleging that there is an issue with your service, which has caused them to suffer a financial loss.

Professional indemnity insurance is not a legal requirement, although it may be a contractual one. However, it will always give you additional peace of mind that you are not on your own if a client looks to you for compensation.

What does the policy cover?

Our policy provides cover for:

  • Negligence or breach of duty of caresuch as making an error or an omission, providing incorrect or poor advice.
  • Infringement of intellectual property rights – using content from a website or publication without permission
  • Breach of confidence – sharing confidential or sensitive information without consent
  • Defamation – making false or damaging claims about a person or organisation
  • Dishonesty - of your individual partners, directors, employees or self-employed freelancers directly contracted to you and under your supervision
  • Civil liability – if a claim occurs because of your business activity for a client and we haven’t specifically excluded it, it’s covered.

Why choose CJ-Insurance Professional Indemnity insurance?

  • Specialist knowledge: We offer industry-specific policies to suit the risks you face.
  • Flexible policies: Select from a range of cover levels to get the protection you need.
  • Interest free: Pay your premium annually or by monthly interest free Direct Debits.
  • No ongoing administration fees: Amend your policy as your needs change.
  • Get a quote in minutes: By Email or by phone.
  • Territorial Limits are worldwide including U.S. Can extend cover to Hostile Locations.
  • We assist over 200 Security clients with their insurances. Ranging from individuals to Global Companies
  • Our EXCLUSIVE specialist scheme for the Security Industry is underwritten by Hiscox.
  • Hiscox provide extensive business insurance, finely tailored to the needs of over 150,000 SMEs, professionals and consultants in the UK. They design profession-specific policies, which you can tailor to suit your business.
  • Insurer Financial Strength - Rated 'A' by A.M. Best, Standard & Poor's and 'A+' byFitch as of 04/11/2015.

We’ll defend you

If a claim is made against you, our insurers investigate the matter carefully, speaking to you / your team to get your input and in order to determine your legal position. If you are responsible then insurers will negotiate settlement on your behalf, if you are not at fault then they work with legal professionals and a team of experienced claims managers, to build a defence to protect you and your business.

Protect your hard-earned reputation

Our PI insurance for Security Consultants includes free crisis containment cover, so you can rest assured that your business is in expert hands should the worst happen. This cover provides access to specialist public relations support to help manage potential damage to the reputation of your business if a claim threatens to do so. It means you can respond properly to events without having to lose focus on the running of your business.

Find the right level of cover for your business

When working out the right level of cover for your business, you should consider:

  • Any contractual requirements for PI cover
  • The maximum compensation that could be awarded against you
  • The potential cost of legal defence fees if it came to the worst
  • The size of your clients and the tasks you work on. 

If you have any queries on the above, please feel free to contact me for advice.

Thanks for reading as always.



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