Professional indemnity insurance for sole practitioners
As an accountant, we understand that you're an expert in your field, providing a professional service. However, even the most experienced professionals make mistakes, presenting risks to you and your business. It's essential to have the right professional indemnity (PI) insurance in place that offers the necessary protection.
Here at Marsh Commercial, we can arrange cover that gives you and your business peace of mind. We'll give you:
We know you're dedicated to delivering specialist advice. You can be confident that we're committed to working with leading insurers on your behalf. We'll arrange appropriate cover – on competitive terms.
Our team have a wealth of knowledge in arranging commercial insurance for professionals. We take time to understand your business to ensure that the protection you have in place is suitable for the risks you face.
We're here for you when you need us – from providing tailored advice to walking you through the claims process. So while you focus on supporting your clients, we're here to protect you, making insurance one less thing for you to worry about.
Get a quote today
Get a quote in minutes and arrange your PI insurance online – at a time that suits you.
You can also contact our dedicated team of professional indemnity insurance experts. From sole practitioners to firms of five or more members, we take time to understand the risks you face in accountancy and advise how to manage them.
We're here to make sure you have the right PI insurance to protect you and your business.
Policy enhancements under the ICAEW members' scheme
As well as meeting the minimum requirements set out by the ICAEW, the scheme also provides enhanced benefits designed specifically for members, including:
- a six year run-off period available in a block policy
- cost of court attendance compensation limit is increased for the principal partner, member or director
- cover for replacing, restoring or reconstituting physical documents
- circumstances known prior to the inception of the policy period that have not previously reported, are not automatically excluded
- cover for appointments as a director of a third party company – cover provided is only in relation to services defined by the insurer
- insurer security termination clause, allowing you to terminate the cover if the insurer’s security rating is reduced
- joint ventures – limited to acts of the insured only and excludes claims for work carried out by other parties/employees of the joint venture
- Members also benefit from packaged cover that includes PI, office, and cyber insurance, helping to eliminate gaps and overlaps in cover.
The team behind the scheme
We have a dedicated team, based in Bristol, who are focused on delivering excellent customer service for ICAEW members; from low fee earning practices to niche and mid-tier firms.
Our team draws on a wide range of expertise and experience to deliver our value proposition and provide support to members. This includes:
- dedicated client advisers providing members with exceptional service, and regional relationship managers offering in-person support
- specialist claims advisers who are on hand to guide members through the claims process
- regular communication to members including news and updates on relevant topics – helping support them in navigating the increasingly complex risk landscape.
ICAEW cyber insurance
Working closely with the ICAEW, we developed a cyber insurance policy that protects members from the specific cyber threats chartered accountants face. Whether you are a sole practitioner, work for a small practice or a large firm, we're here to protect you.
ICAEW office insurance
Working closely with the ICAEW, we have developed a range of insurance products that protect members from the specific risks they face as a chartered accountant. Our ICAEW office insurance features benefits exclusively negotiated for Marsh Commercial clients.
ICAEW 1- 4 partners
Working closely with the ICAEW, we have developed a professional indemnity (PI) insurance policy that protects members from the specific risks they face as chartered accountants. We currently manage more than 4,300 PII policies on behalf of members.
ICAEW 5+ partners
As well as being mandatory for ICAEW members, having accountants professional indemnity cover in place to deal with claims is vital to protect your business and reassure your clients.