Professional Services Insurance
When your work is your product, your cover needs to match.
- Consultants, accountants, IT professionals, lawyers, engineers and advisers all carry the same fundamental risk: a client who believes something went wrong. A professional indemnity claim can come from a misunderstanding, a missed deadline, or advice that was technically sound but badly received. We make sure your cover is structured to protect your practice and your reputation.
Key risks
The risks that matter most for professional practices
Most construction claims aren't caused by catastrophic events. They come from gaps nobody thought to close before work started:
- Professional indemnity: claims arising from your advice, services, or work product
- Cyber incidents and data breaches, particularly where client data is stored or processed
- Business interruption if your practice is forced to stop operating
- Management liability if you have directors, officers, or key employees
- Personal accident and illness cover for principals without sick leave
- Public liability for client-facing offices and events
Cover we typically structure
What a professional services programme includes
- Professional indemnity (tailored to your specific service type and contract terms)
- Cyber and data breach liability
- Business pack (office, contents, business interruption, public liability)
- Management liability
- Personal accident and illness
For professional indemnity in particular, policy wording varies significantly between insurers. We work with insurers whose wordings are designed for the kind of work you actually do, not a generic professional services definition.
Some important things to remember about professional insurance
Why Maverick
Talk to a professional insurance adviser. No paperwork. No obligation.
Professional services claims are rarely straightforward. The facts matter, but so does how quickly you respond and how well your insurer understands your industry.
We work with insurers who know your field and we brief them properly before a claim ever needs to be lodged.
What level of professional indemnity limit do we actually need?
We assess your typical engagement size, industry sector, contract requirements and the potential financial impact of a worst‑case error. Using that information, we recommend limits that align with client expectations and your risk appetite, and can also explore excess‑layer options where higher limits are required.
Does our professional indemnity policy cover work done overseas or for overseas clients?
We review the territorial and jurisdictional provisions in your policy and adjust them where possible to match your client base. Where you provide services into foreign jurisdictions, we advise on any local regulatory issues and whether you need specific endorsements or separate local policies.
Are partners and directors personally protected if we’re sued?
Professional indemnity protects the firm and its professionals against claims alleging negligence in the services provided. To address wider management‑related exposures such as regulatory investigations, shareholder disputes or employment practices claims, we also recommend directors and officers or management liability cover that is structured to protect personal assets, not just the business.
What cover do we need for cyber incidents linked to our professional services?
We separate two risks: your professional liability if your advice causes a client cyber loss, and your own exposure if your systems are compromised. We structure PI and cyber policies so they work together, providing cover for legal liability, business interruption, data recovery and incident response after a cyber event.
How does our excess work and when will we have to pay it?
Professional indemnity excesses are generally payable once a claim reaches a certain level, and they often apply to both settlement and defence costs. We explain the financial impact of different excess levels at the outset so you can choose a structure that matches your cash‑flow capability and claims history.
What risk‑management steps can help reduce claims and premiums?
We focus on practical measures such as robust engagement letters, clear scopes of work, peer review for high‑risk assignments, secure data management and thorough file notes. Demonstrating these controls to insurers not only reduces the likelihood of claims but can also help in negotiating better premiums and terms.