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Don’t put professional liability in the corner

Many business leaders are leaving themselves, their families and their key employees dangerously exposed. Although tangible risks and business liabilities are readily identifiable and historically insured, professional liability is often overlooked.

Here we take a look at the invaluable peace of mind that the right insurance cover can offer. It’s important not to forget that business leaders can be found personally liable for poor decisions, mismanagement and breaches of a wide range of legislation.

Litigation can be instigated by official bodies, employees and third parties. Even those actions or decisions undertaken with best intentions can turn sour.

Allegations of negligence are not only stressful and damaging to you and your business’ reputation but the legal costs to defend, let alone settle a claim, can run into a small fortune. Your business is not legally required, although may choose, to fund your defence costs.

Where insufficient funds are available or the business will not fund costs, the individual may be personally liable. If that business is your own then those defence costs deplete the balance sheet and potentially your personal wealth.

If things go wrong and your business does become involved in a legal battle, the peace of mind afforded by this cover is key to protect you and the future of your business. We have promoted a large take-up of this cover amongst our client base. Given the risk exposures involved, it is certainly worth investigating.

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Huddersfield office

Northumberland House
Northumberland Street

West Yorkshire

Tel: 01484 820000

Sheffield office

4 Park Square
Newton Chambers Rd

Thorncliffe Park, Chapeltown
South Yorkshire
S35 2PH

Tel: 0114 2965760

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Eastwood Insurance Brokers is a trading style of Eastwood and Partners Ltd, authorised and regulated by the Financial Conduct Authority. Registered office: Northumberland House, Northumberland Street, Huddersfield HD1 1DT. Registered in England and Wales company no. 2560460.

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