Professional indemnity (PI) insurance is key for those who offer a professional service, give advice or handle another firms’ data or intellectual property. The insurance covers you if your client suffers a financial loss due to work you have carried out for them. Claims can arise from simple mistakes such as unintentionally exposing private information, however, when legal action is taken it can be very costly to defend yourself.
PI Insurance protects you against the legal cost associated with those sorts of claims, helping you to keep your business on the right track.
Your business may be in a position where it can afford to purchase professional indemnity insurance outright, in which case you may be wondering why you should consider finance as an option. Even for firms who may be able to front the cost of PI insurance, financing can still be a valuable option.
A professional indemnity insurance loan allows you to spread the cost of cover over a 12 month period. This means that your business is left with more money to purchase cases, generate income, or invest elsewhere in the business.
In the legal sector, professional indemnity insurance is essential and one of the largest costs that legal firms have to endure. As such, it’s often necessary for businesses to seek funding to help them cover the cost of PI insurance. That’s where CMF comes in.
Our team of experienced finance brokers have a proven track record of providing tailored funding packages for professional indemnity insurance, quick and hassle free. Our competitive finance packages have already helped thousands of businesses to fund professional indemnity insurance – and we could help you, too.
To learn more about the services that we offer, or to find out what we can do for your business, call us on 01928 739 712. Alternatively, you can make an online enquiry using the form to the right.