If you’re an Independent Financial Advisor (IFA), you’ll be well aware of the many risks that face you and your business every day – which is why professional indemnity insurance is an integral part of your business.
As a self-employed professional it’s vital to protect your income in the long-term, and here at ConstructaQuote, we specialise in ensuring that you have a variety of flexible insurance plans to choose from, tailored to fit your professional career and the clients that you represent.
Professional Indemnity Insurance for IFAs – Why Do I Need It?
You’ll know that your many clients hold you in a very high regard, and your advice can lead to hundreds, thousands and even millions of pounds being invested in a variety of complex schemes and plans. But, working in finance can be a risky business, as we’ve seen over the last 5 years. Should something go wrong, you may be held accountable. If you are sued as a result of negligence, or even a simple mistake, the costs involved could leave you in a perilous position.
FSA-regulated professionals are required to hold a form of indemnity insurance, and higher-profile clients will insist on you using professional indemnity insurance. Professional indemnity insurance for IFAs protects you against the mishaps, mistakes and a miscommunication that can occasionally occur as you advise clients day-to-day – meaning that you can get on with your job in perfect peace of mind.
What Could Public Indemnity Insurance for IFAs Protect Against?
• Error or professional misjudgments
• Claims of libel, slander and breach of professional confidentiality
• Losing vital documents
• Any resulting expenses, court and legal fees
• Work undertaken in the past
For any further information about professional indemnity insurance for IFAs, please see our Frequently Asked Questions page.
The expert team at ConstructaQuote can work with you to help you build your ideal policy at an affordable price. To learn more or to arrange professional indemnity insurance for IFAs, call ConstructaQuote today on 08081 68 68 68 or submit an enquiry form now.