Sometimes, despite years of experience and double-checking, unexpected issues occur: the wrong height stools are ordered, the 4000K LED fixtures are specified instead of the 3000K, or two digits are transposed on a dimension. Professional interior designers are human, after all, but client may not be forgiving, and an innocent mistake can cost a fortune to correct. This is where Professional Indemnity cover comes in: to protect against errors and omissions and accusations of professional negligence.

Professional indemnity insurance (PII), also called professional liability insurance (PLI) is a form of liability insurance which helps protect professionals from legal liability that may arise due to acts of negligence, error or omission in the rendering of or failure to render professional services for others in the insured’s capacity as a professional

Without insurance, an interior design could potentially lose earnings and spend all her savings on legal defence costs should your disgruntled client decide to file a lawsuit.  And if you lose the case, the damages a judge awards might devastate your business. No one wants to believe that they could be faced with such nightmares, but the unfortunate reality is that mistakes occur.

There is no one-size-fits-all Professional Indemnity Cover; the type and value of projects you work on, the services you provide, the excesses (the first amounts payable), the ability to extend cover as well as continue existing retroactive cover … all of these factors come into play. Therefore, making a decision about coverage based solely on the premiums is short-sighted and foolhardy. That’s why it is imperative that you consult an experienced insurance broker, who can recommend cover that is right for you.

The primary purpose of professional insurance is to protect the professionals against any financial losses from lawsuits, which can be filed against them by their clients

• Financial Protection from Lawsuits:
  • The policy pays for the costs of defending any action brought against the insured in their professional capacity.
  • The Professional Indemnity Policy covers Court judgement awards
  • The policy also covers loss of documents fees and expenses may have arisen
• Peace of Mind: Performing professional services with greater confidence bring effective results. Professional indemnity insurance provides helping hand in such scenario and handle all your strain by providing the required monetary help.
• Increases Credibility: Professional indemnity insurance enhances your goodwill and brand image. It assures your clients and investors that whatever professional services you are rendering if some discrepancies arise, professional indemnity insurance is there to provide strong support.
• The smooth running of your business: Claims arising due to error and omission may cause huge financial loss and interruptions in your operations. But professional indemnity insurance helps in restoring the former business position after all the losses incurred due to legal court procedures.

If you are a professional interior designer and or have your own company, then it is advisable that you have professional indemnity insurance. Professionals are required to perform their services as per standards of conduct. Unfortunately, nobody’s perfect and professionals can be held legally responsible if they fail to use the degree of skill, which is expected from them.