Professional indemnity insurance covers legal liability to third parties for breach of professional care caused by neglect, error or omission.
The limit of indemnity you choose can be expressed as an any one claim limit that is unlimited during the period of a professional indemnity plan, or as an aggregate limit where the limit will be the maximum during the period of insurance.
In deciding on the limit, you should consider the nature of your activities and the potential cost if something goes wrong and this leads to a claim against you.
You will be responsible for the first part of any claim, however, terms can be quoted for various excess levels.
Cover can be arranged for indemnity limits as low as £250,000 through to much higher limits if required.