Bookkeepers Professional Indemnity Insurance

What is Professional Indemnity Insurance

Professional Indemnity Insurance covers you for the legal costs and compensation should your client allege negligence or error with your services, and take legal action to recover their losses.

Get cover from as little as

£ 3 .96

per month

*Based on £50,000 cover

Professional Indemnity built with bookkeepers in mind

Professional Indemnity Insurance (PI) is a key consideration for all businesses providing advice or professional services to their clients. Bookkeepers PI protects the insured against the costs incurred in defending claims where it is alleged that the insured has been negligent or there has been an error in the services provided, such as incorrect advice or an unintentional breach of intellectual property rights. 

Should the defence be unsuccessful the policy provides further protection by also covering any compensation that the insured is deemed to owe as a result of the incorrect work.

Any business or individual operating in a professional capacity can be held liable if an error or omission in their advice of service causes financial loss to a third party. Accordingly, in order to protect both themselves and their clients, it is s requirement of the Institute of Certified Bookkeepers Practice Licence to hold Professional Indemnity insurance protection.

What does Professional Indemnity Insurance cover?

Professional Negligence
If you breach the duty of care you owe your clients
Libel and Slander
If you produce or support a false statement about a third party
Loss of Documents or Data
If you lose your client's documents or data
Unintentional Intellectual Property Infringements
If you accidentally reproduce or distribute your client’s IP without permission
Unintentional Breach of Confidentiality
If you accidentally share private information without permission
Accountant standing in office

How much Professional Indemnity cover do I need?

There is no specification as to the level of cover that should be taken out, however a broad recommendation is that a practice should look to insure a minimum of 2.5 times their annual turnover.

All practices should consider their potential liabilities individually and ensure that they insure to an adequate level and it is worth noting that the Professional Indemnity insurance offered by Qdos operates on an ‘any one claim’ basis. This means that the limit of indemnity chosen will apply to each claim made on the policy independently.
Why Qdos?
Self-employment is our everything. In fact, we’ve been specialists in the industry since 1988.

We’re business insurance and employment status enthusiasts. We get a kick out of simplifying the complex world of compliance so you don’t have to.
All of our policies include the following as standard:
A dedicated Account Manager
We'll never pass you around a call centre
Online account for 24/7 access
Manage your policies at a time that suits you
Free IR35 Contract Assessment
Because IR35 compliance starts with the written contract

Have a question?

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Prefer to talk to us in person?

Call our team on 0116 269 0999 or we can call you back at a time that suits you!