How fire protection consultant professional indemnity cover works
Most businesses are now heavily focused on how to reduce safety risks to their premises and employees, not just because of changes in the law but also due to an increased general awareness. This has led to a greater call for fire protection consultants and their expertise, which in turn means more business for them. Your business may be growing and entering new territory, but with more business comes more responsibility. Fire protection consultant professional indemnity cover is a form of insurance which many professionals therefore take out as a precaution.
Relevant to just about anyone who provides advice on a professional basis, this type of product will pay for the policyholder’s legal bills if they face a legal challenge alleging they have made a mistake or omission in the general conduct of their business.
Of course, the job involves making judgements and recommendations, and if these turn out to be wrong, they can end in a client being in breach of health and safety law and even with someone getting hurt or property being damaged. In such circumstances, the risk of being sued becomes more significant.
Fire protection consultant professional indemnity cover will pay your legal costs when hiring help to defend the accusation, and it will even pay out compensation if it happens to be awarded to the claimant by the court.
This can potentially save a fire protection consultant a vast sum of money, particularly as some cases can go on for long periods and can be quite complicated. Normally this type of policy will also protect you against allegations of breach of copyright or confidence, a claim that you have lost or damaged a client’s valuable documents or data, and will even sometimes include public liability insurance.
Due to the detail involved, claims can sometimes be slow to arrive, and this means that some people choose to take out retroactive cover, which covers someone for any subsequent claims which relate to something which happened before the policy was even bought. ‘Run off’ fire protection consultant professional indemnity cover can also be arranged for someone who is changing insurer or simply winding down their business.
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