The potential importance of Health & Safety Consultant Professional indemnity cover
Being hired as a professional to make recommendations can be an exciting and lucrative career, but it can also carry certain risks. Those who work in health and safety and advise companies on policy and procedure carry a considerable amount of responsibility on their shoulders, not just because firms need help to be legally compliant, but also because they may be relying on them to maximise the safety of their workers. Of course, while serious errors resulting in accident and injury are rare, mistakes can be costly and may result in legal action. This is why health & safety consultant professional indemnity cover can be a vital safety net for some professionals.
Indemnity protection is also known as PII, or professional indemnity insurance. It is a kind of protection taken out by some companies who provide advice on a consultancy basis. It applies not just to lawyers or doctors, but anyone who offers their advice and services on a contractual or outside basis.
It covers you if you are formally accused of making a mistake, error, or committing an act of negligence in your general business. This typically means facing legal action, or being sued. This is never a straightforward or cheap process, as court cases can be long, complicated, and may involve a considerable cost in terms of legal protection. Worse still, if you lose the case you could face a compensation bill from the other side.
Health & safety consultant professional indemnity cover would pay not just the cost of your legal counsel, but also the cost of compensation. Therefore it is seen by many as a financial safeguard and a fact of modern business.
A policy will normally not just cover against mistakes, but also protect you against claims that you have breached confidence, someone’s copyright, committed unintentional defamation, or lost or damaged a client’s important data or documents such as plans or digital information and databases.
Therefore it is quite flexible and able to give you financial support towards protecting against a wide range of legal challenges. It does not matter how valid the claim made against you is. You will get pay out towards your legal defence no matter how true or false the claimant’s case is. It also does not matter whether or not you win – your defence in general will be covered.
Some policies like this will even include public liability insurance, either as an extra or as a free add-on. You will need to decide the limit of your indemnity cover, as a policy will not pay out towards an indefinite amount. This means making a careful judgement as to how much health & safety consultant professional indemnity cover you might need if you faced a case, and this will often be connected to the size of your business. Of course, the higher level of limit you want, the higher your premium will normally be.
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