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What it covers
Professional indemnity (PI) responds to claims that your professional service, advice or design was negligent and caused a client financial loss. It covers legal defence and any damages, which can dwarf the fee you earned.
Who needs it
Consultants, accountants, architects, agencies, IT firms and anyone selling expertise should carry PI. Many client contracts and framework agreements mandate a minimum level. It sits alongside your core insurances.
What it means for you
Credicorp lends to your company, not to you personally, and takes no personal guarantee. See business loans or apply online.
Frequently asked questions
Is professional indemnity insurance a legal requirement?
Not generally by law, but it is mandatory for some regulated professions and frequently required by client contracts. For advice-based businesses it is close to essential.
What does it protect me from?
Claims that your professional work or advice was negligent and cost a client money, covering both defence costs and any damages awarded.
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Read →Funding for UK limited companies
Credicorp lends to your company, not to you personally — short-term working capital with no personal guarantee. See what your business could access.