Professional Services Insurance

professional services homeworker at work

Are you going back to providing Professional Services after lockdown and looking for insurance?

In this blog, we suggest 6 Things to think about to help get you back up to speed.

Nowadays, few would ever think of embarking on, or re-starting, their own business without insurance protection.

This litigious age means that all professionals are wise to protect themselves for the work or advice they provide.

Insurance is now seen as part of the cost of doing business. As a professional, you often need the minimum cover required by a trade body, by clients or just common sense!

OK. So, what should I be thinking about?

Many small business or self-employed professionals do not work all year round!

As much as 50% of the average consultant’s time is spent trying to get new business rather than delivering.

If you are not actually delivering for a client or customer at the time you do not necessarily need continuous cover as long as you are insured during the contract and for a period afterwards.

But Insurance is done annually, right? – WRONG! It does not have to be!

Traditionally, insurance developed from events like insuring a ship’s cargo during a voyage to or from the East Indies into wider policies.

For centuries, insurance was ‘done by hand’. The risks and cost (loss cost) were calculated by hand and an annualised policy reduced costs to the insurer which could be passed on, in part, to the customer.

However, digital underwriting and administration means that this manual activity is reduced. Therefore, technology driven solutions can offer more flexible insurance cover. You can get the level of cover you need, when you need it.

There are other benefits

Digital risk assessment often means a better price.

Also, there are useful features which can be covered in a flexible policy. For example, GDPR (data) or Cyber protection.

6 things to do before you go back to work?
  1. Do a self-assessment of the risks you take.
  2. Turn that into the potential financial impact of a mistake. This is the starting point to decide how much cover you need to buy.
  3. Look at the limits of liability clauses that are commonplace in your field.
  4. Decide if basic cover is ok or you need more in value, term or have additional risks.
  5. If you interact with clients in person (if they visit your office, they could trip on the carpet) consider a package of PI with Public Liability.
  6. Finally, if you have any employees, even part time, the Employers Liability is required by law!

Find out more about our flexible Professional Indemnity Insurance.

Services Family Insurance have partnered with ‘Tapoly’ to provide a wide range of Professional Indemnity and Medical Malpractice Insurance.

Basic cover can be obtained in minutes online and from £11 per month subject to your circumstances, cover required and the terms and conditions.

Get a quote for Professional Indemnity Insurance or for Medical Malpractice Insurance or

Find out more about the full range of insurance cover on offer from our trusted partner.


You can read more about other types of business insurance here.

For more tips and news, don’t forget to follow us on Twitter, or like our Facebook page.