Professional Indemnity

Professional Indemnity
Professional Indemnity
Professional indemnity, sometimes known as PI, may cover your business should you make a mistake in your work, provide erroneous advice or a substandard service that results in your client making a claim against you.
Many different types of businesses invest in professional indemnity insurance cover, particularly if they provide advice, deliver a professional service, or manage data or intellectual property on behalf of their clients. From accountants and consultants to marketing specialists and legal advisors, professional indemnity is often considered essential to protect the viability of a business when something goes wrong.

What does professional indemnity insurance cover?
Professional indemnity covers a wide range of costs including legal expenses, damages and other costs should you:
- provide the wrong advice to a client or make an error in your work for them
- defame your client in the course of your work
- violate your client’s confidentiality and share their private information without their consent
- disregard copyrights, trademarks and/or intellectual property
- have an employee that causes your client financial or reputation loss.
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Speed up your quotation by filling in our online professional indemnity insurance questionnaire. Then request a call back and we’ll have prepared everything you need to know to choose the right coverage for your needs.
Meet the team

Benny Sheridan
Director

Miriam Sheridan
Director

Siobhan McPhillips
Insurance Broker
At Sheridan Insurances we understand that providing professional expertise that clients depend upon also carries a degree of risk. That’s why careful risk management is essential to giving you the confidence to get on with your business and deliver the very best job possible. Professional indemnity insurance is an essential component of your risk management strategy; our experienced brokers can support you with expert advice about a tailored policy and indemnity levels that suit the needs of your business.
With more than 40 years in business, Sheridan Insurances prides itself on protecting their clients’ businesses with professional indemnity insurance.
Your benefits…
Professional indemnity from Sheridan Insurances comes with a variety of benefits such as:
Absolute peace of mind that you are covered if something goes wrong
Advice on choosing a policy that is "Claims Occurred" or "Claims Made"
Access to a wide range of insurers and options, that also provides flexibility for all business sizes, small, medium and large
Experienced and dedicated brokers who will research the market on your behalf
A policy that is uniquely customised to the specific needs of your business
Support and advice at proposal form completion stage
Advice on indemnity levels
Primary risk management
Evidence of your professional commitment to your business and clients.
Professional Indemnity insurance FAQs
We want to make sure you know exactly what professional indemnity insurance from Sheridan Insurances protects you for.
Take a look at our FAQs or talk to one of our brokers.
Do I need professional indemnity insurance?
Is it mandatory to have professional indemnity insurance in Ireland?
What level of indemnity would I need?
Insurers offer different levels of cover typically between €1000,000 and €10million. The level of cover you need for your business will depend on:
- whether a project or business contract specifies the amount of cover requiredthe value of the work you are providing, including your own fees
- the recommendations of your relevant professional or regulatory bodies.
How much does professional indemnity insurance cost?
Is professional indemnity insurance tax deductible?
Do I need professional indemnity insurance if I work from home?
What is an example of a claim against professional indemnity?
What types of claims does professional indemnity cover?
Professional indemnity is designed to cover a range of claims, such as:
- Substandard work. Like everything in life sometimes things get missed or overlooked. In these situations, professional indemnity insurance becomes an invaluable asset that helps you navigate your way to a solution.
- Work is erroneous. This is not uncommon in many professions such as an accountant who can be accused of producing inaccurate work. Especially if the client subsequently suffered a financial loss or was inaccurately fined by revenue or another authority.
- Did not meet the brief. Sometimes a client might claim that you did not meet the agreed brief and they could try to sue you. Unfortunately, it only takes a grievance or misunderstanding to create a situation where this exact scenario could arise.
What type of work can benefit from a professional indemnity policy?
Professional indemnity cover should be a serious consideration for any business owner, consultant or contractor, freelancer, self-employed or sole trader that:
- provides advice or professional services to clients
- provides designs to clients
- needs to protect themselves against the potential for allegations of mistakes or negligence in work they have undertaken
- is a member of an industry association or governed by a regulatory body that requires them to have it.
What professions typically need professional indemnity insurance?
Some examples of professions that are likely to need professional indemnity insurance are:
- IT programmers, developers, website agencies, contractors, engineers, CAD designers, and project engineers
- consultants in business, technology, recruitment, education, trainers, marketing, and sales.
- agencies such as design, branding, web, digital development, social media, SEO, management, recruitment, and PR
- designers such as web designers and interior designers
- professional services including architects, solicitors, accountants, medical professionals, personal trainers, and yoga instructors.
Did you know?
Sheridan Insurances has more than 40 years’ experience helping businesses to protect their commercial, personal income and general insurance needs. We have access to a wide selection of insurance providers that can offer you flexibility, choice and the best policy to suit your business.
When you choose Sheridan Insurances as your insurance partner, you will benefit from:
- access to up to a large selection of insurance providers
- dedicated brokers who will research the market on your behalf
- tailored and uniquely customised policies with the most suitable products from different insurance providers bundled together in one package
- our in-depth understanding of policy terms to help you navigate the small print
- cost effective bundled business packages that costs less than the total cost of all the individual covers when combined
How to talk to us…
Request a Quote
Speed up your quotation by filling in our online professional indemnity insurance questionnaire. Then request a call back and we’ll have prepared everything you need to know to choose the right coverage for your needs.
How to talk to us…
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