If you are looking for insurance relating to your contractual and statutory obligations and you are a member of the Chartered Institute of Public Finance and Accountancy (CIPFA), then there are some low cost solutions available to you when seeking a CIPFA insurance quote.
If you run a business, then you will need to protect yourself against the chance that legal action will be sought against you or an employee which could result in huge legal fees as well as potentially any cost for damages. For some companies, this could mean that it brings it to its knees financially.
Typically, CIPFA insurance can protect you against claims for such things as public liability; slander, libel and defamation; accidental breach of confidentiality; dishonesty; loss of documents; loss of data; and, unintentional infringement of intellectual property rights.
Have you ever considered whether your business survive if it was faced with legal action because of an error or omission? Just one Court action could quite simply bring your company down. However, having the financial protection of a professional indemnity insurance plan could help stop this.
Where to get a quote
If you are considering getting a CIPFA insurance quote, then a good place to start would be with a specialist broker. Specialist broker of professional indemnity products will be able to use their knowledge and expertise to find a policy that best suits your company’s needs.
By using a broker rather than a mainstream insurance provider, you can access policies that are tailor made for someone with your industry, meaning that your policy will be right for your requirements.
Things to note when getting your CIPFA insurance quote
- when choosing your insurance, check out any excesses on your policy;
- check the terms and conditions for any exclusions which could stop you making a claim on your cover;
- the features and benefits of the insurance can differ depending on the providers. Therefore, always do check them on a like for like basis if comparing policies:
- check that the sum insured is for an adequate amount;
- look for retroactive cover which covers you for any claims that relate to an incident that occurred for a predefined period before the insurance started.
Finally, even the best run companies can still face the prospect of financial ruin should legal action be sought against it. By getting a CIPFA insurance quote, you are one step closer to taking away this worry.