Professional Indemnity Insurance explained
What is Professional Indemnity Insurance?
Professional indemnity covers you for:
Legal costs and expenses in defence of a claim
Damages and compensation awarded against you
In the event of:
An allegation of providing incorrect advice, negligent services, dishonesty of employees or medical malpractice.
Why is Professional Indemnity Insurance important?
Regardless of how many years experience your organisation may have, there is always the possibility you or one of your employees could make a mistake. Professional indemnity insurance is an important cover for anyone involved in providing any form of care or support. It covers against allegations of professional negligence - such as giving your client incorrect advice, defamation, dishonesty of employees and medical malpractice. You should consider professional indemnity insurance that includes medical malpractice cover to ensure you are protected should a health care worker provide negligent treatment resulting in injury or death. Without PI cover your financial position could be left vulnerable if a claim is brought against you. Although most organisations strive to provide the best service possible, people do make stakes; knowing that adequate insurance is in place will give you peace of mind that you are prepared should an incident occur.
What can go wrong?
Professional indemnity insurance would protect your organisation in the following example scenarios:
Breach of professional duty
A care organisation employed an agency worker to fill a gap in their staff without checking that the agency had been provided with appropriate training. The agency worker egligently injured a service user leading to a claim against the organisation for breach of professional duty.
A service user was burnt during a cooking lesson undertaken at a training centre that catered for adults with learning difficulties. A family member made a claim alleging inadequate supervision.