Professional indemnity insurance

Provide us with your details and one of our insurance experts will contact you to discuss your requirements

Success

Thanks for registering.

We'll get back to you straight away

Mike maur
It's been a pleasure dealing with Elizabeth, Def a Gem for her business. Amazing communicator and process dealing with all the paperwork was made easy and stress free. Keep it up !
Nov 28, 2024
Nasir Abbas Kazmi
I applied vehicle Finance through Swoop & lady Ikra help me from Beginning to end,she s very professional & helpful. Its just took 3 to 4 days & now i got new vehicle. I received Best customer services from Ikra & High recommend for this Swoop Finance.
Nov 26, 2024
Hazel Cuizon
Ayesha was very prompt and friendly to deal with and answered all my questions in a timely and professional manner. Very happy, highly recommend 🙂
Nov 24, 2024
Andrew Frazer
Cynthi was a fantastic help in organising what was needing and obtaining finance
Nov 8, 2024
Chris Skeates
Predrag and the Swoop team have been outstanding. Very attentive to our needs and staying on top of our funding request with their partners.
Oct 24, 2024
Leo Tsuo
Great experience. They quickly understood my needs and was fast to find a lender that met those needs. Highly recommend
Oct 22, 2024
Kash De Silva
I had a fantastic experience working with Elizabeth Tan for my business lending needs. She provided exceptional support and guidance, helping me navigate the process with ease. Her expertise and dedication were instrumental in taking my business to the next stage. I highly recommend her to anyone looking for lending assistance!
Oct 15, 2024
Shannon T
Cynthia has gone above and beyond, explained the process, consequences, and found me the most suitable solutions for my business in a very busy time! I found the help (even before I was guaranteed to use them) invaluable and the help made all the difference!
Oct 9, 2024
Jon Marc
Swoop came in at just the right time and there help was very much what took me over the hump to expand. They really know how to help and they follow up and make sure you’ve been taken care of!
Oct 8, 2024
Tendekai Mutemeri
Would recommend anyone to use my lovely lady, she went above and beyond to get me my business finance, the response when I had a question about anything and everything was on point, got me the deal I could have asked for, please use her services 🙂 😊 😀
Sep 6, 2024
North-CM
Ikrah was really phenomenal in providing finance for our company. Her communication was absolutely brilliant. Ikrah surpassed our expectation and really went above and beyond in ensuring all our needs were met as a business and we were satisfied on a whole. Absolutely pleasure to deal with Ikrah I shall ensure to pass your details on with other business associates. By far the best service I have ever been provided with…. 10/10
Sep 6, 2024
Aldo
Absolutely wonderful service. Cynthia was proactive, professional and 100% committed to get the best result for my company. I have not seen this performance in other companies in the last years and I am very difficult guy to deal with. Keep doing what you are doing Cynthia great job. Thank you.
Aug 29, 2024
Andy De Silva
Very helpful team I was kept in the loop throughout the whole process very happy with the APR rate quoted & received for my business loan I would certainly recommend using Swoop & will use again for future business development loans if required.
Aug 16, 2024
Consumer
Cynthia was fantastic! So quick and efficient at sorting out our finance and getting the best rate possible! Highly recommend.
Aug 12, 2024
Uchenna
Dave Cummings was amazing with helping my business secure funding for a company car. He was very patient and pleasant to work with. I highly recommend Swoop Finance for your business.
Aug 1, 2024
Brian Hardy
Working with Swoop made things easy, he provided us with two solutions to have available to support our growth and they work well. Having connections across North America (even Mexico) and beyond, definitely recommended.
Jul 31, 2024
Michael Fisher
Extremely quick quality service, Adrian was first class in answering any queries I had regarding the finance he had arranged for us. The whole process was pretty painless. Would most definitely recommend Adrian and Swoop
Jul 31, 2024
ACU
Fareeha's turnaround time in getting back with me after my initial call with her was very expedited and an overall great experience. Her overall efficiency, precision, and customer service is impeccable. I am thankful that she took my initial call (by way of Evelyn - Another 5 Star Swoop Employee). It has been a peaceful & solution-oriented experience thus far!
Jul 26, 2024
ACU
Evelyn was very informative and helpful in my first time contacting Swoop. She was very transparent and honest in her interactions and responses. Very on point employee in your company!
Jul 24, 2024
DriveNet, Ltd
I worked with Pedja at Swood to secure a term loan with BDC. What Pedja did that I could not was find the right contact at BDC to speak to. I had actually spoken to BDC before speaking to Swoop and they passed on partnering with us. Sometimes with financing it is who you speak to and Pedja introduced us to his BDC contact who was able to help us secure funding. It was as simple as an introduction but it made all the difference.
Jul 23, 2024
    Add a header to begin generating the table of contents

    Page written by Chris Godfrey. Last reviewed on September 23, 2024. Next review due April 1, 2025.

    Many individuals and businesses sell information and advice to their customers. Unfortunately, if that information is wrong or misleading, it can cause financial loss or other damage to their clientele. Claims for compensation can then cost thousands or even millions of pounds to settle. Instead, professionals and businesses exposed to this sort of risk will purchase professional indemnity insurance to protect them from financial disaster caused by a misplaced word or a slip of the pen. 

      Add a header to begin generating the table of contents

      What is professional indemnity insurance?

      Professional indemnity insurance – also known as professional liability insurance – covers businesses and individuals that advise clients, help them navigate complex financial or legal affairs, or provide them with vital information that may be published in the media. Professional indemnity (PI) can protect you if a client makes a financial loss because of fault in your work and then makes claim against your business. Trade associations, government bodies, public institutions, and major customers will often require proof of a minimum level of PI insurance before doing business with you.

      Do I need professional indemnity insurance?

      If you offer knowledge, skills or advice to clients and customers – either as a self-employed individual or for a company – then yes you do. The potential cost of claims arising from any errors in the services you provide can far outweigh the cost of the policy. Typical cover will range from CAD $50,000 to CAD $5million, but the amount of cover you need will vary depending on your profession, your clientele, and the type of information and services you provide. 

      Why do I need professional indemnity insurance?

      Firstly, some professions are required by their trade bodies or guilds to have professional indemnity insurance in place. This includes:

      • Accountants
      • Solicitors and barristers
      • Architects
      • Financial advisers
      • Chartered surveyors
      • Some healthcare professionals

      Secondly, many other types of business expose themselves to claim because their work is published in the media, provides industry-standard guidelines, or has legal and political impact. Businesses and occupations most at risk include:

      • Journalists and authors
      • Publishers
      • Advertising and PR agencies
      • Entertainment businesses
      • IT contractors
      • Design agencies
      • Research facilities
      • Web developers
      • Some educational institutions

      Important tip: You can be held liable for bad or misleading information or services even if you or your organisation provided them for free.

      Is professional indemnity insurance a legal requirement?

      No. Only employers’ liability insurance is legally required. Other business insurances are optional, although some clients and organisations may require you to have professional indemnity insurance in place before they will trade with you.

      What does professional indemnity insurance cover?

      Professional indemnity insurance is designed to cover a range of issues that may arise from the information, skills and services you or your business provides:

      Professional negligence

      This is also known as ‘breach of duty of care’. Professional indemnity insurance covers you in the event that a client suffers loss or damage because of faulty advice.

      Defamation

      To defame someone is to make a false statement or do something that harms their reputation or casts their character in a bad light. Journalists, authors, TV reporters and even some celebrities, such as stand-up comedians, are most at risk from this type of claim. 

      Breach of confidence

      Covers you in the event that a client or customer claims they have suffered loss or damage because you have shared their confidential information without their permission.

      Breach of copyright

      Covers you from claims that state you have utilised copyright protected intellectual property (IP) – typically manuscripts, plans, drawings, patents, etc – without the original author’s permission. Note that you do not have to have re-used the IP for financial gain to be at risk. 

      Lost or damaged documents

      PI protects you in the event that a client or customer claims they have suffered financial or other loss because you have lost or damaged their important documents through accident or lack of care.

      Employee cover

      Covers your business from liability claims made because of fraud or dishonesty by your employees or any sub-contractors, consultants and freelancers you have hired to work on a project. 

      How much does professional indemnity insurance cost?

      A small business typically pays around CAD $76 per month, but costs will vary depending on your profession and the type of information, advice and services you provide.

      How Swoop can help

      All business involves risk, but that doesn’t mean you have to suffer the consequences if things go wrong. Don’t let a slip of the pen, bad advice, or wrong information wrongfoot your business. Contact Swoop today to compare top-quality professional indemnity cover from different providers and to discuss all your business insurance needs. 

      Written by

      Chris Godfrey

      Chris is a freelance copywriter and content creator. He has been active in the marketing, advertising, and publishing industries for more than twenty-five years. Writing for Barclays Bank, Metro Bank, Wells Fargo, ABN Amro, Quidco, Legal and General, Inshur Zego, AIG, Met Life, State Farm, Direct Line, insurers and pension funds, his words have appeared online and in print to inform, entertain and explain the complex world of consumer and business finance and insurance.

      Swoop promise

      At Swoop we want to make it easy for SMEs to understand the sometimes overwhelming world of business finance and insurance. Our goal is simple – to distill complex topics, unravel jargon, offer transparent and impartial information, and empower businesses to make smart financial decisions with confidence.

      Find out more about Swoop’s editorial principles by reading our editorial policy.

      Get in touch today to start your professional indemnity insurance quote

      Ready to grow your business?
      View more Get a quote

      Clever finance tips and the latest news

      delivered to your inbox, every week

      Join the 70,000+ businesses just like yours getting the Swoop newsletter.

      Free. No spam. Opt out whenever you like.

      Looks like you're in . Go to our site to find relevant products for your country. Go to Swoop