Professional Indemnity

Because we all make mistakes

Because we all make mistakes – And even if an error hasn’t been made, a client may disagree.

The main purpose of Professional Indemnity (PI) Insurance is to provide financial protection to a firm or individual for their negligent errors (doing something wrong) or omissions (not doing something at all) arising from their professional activities. The policy will generally pay for both damages and any defence costs incurred.

The first Professional Indemnity Insurance policies were underwritten over 90 years ago and cover has been evolving ever since. The “professions” who originally bought this cover included solicitors, accountants and achitects, often because their professional bodies told them they must. In recent time products have become available for many other sectors vulnerable to claims from their clients and other third parties.


“Claims made” cover

In the UK, PI is underwritten on a “claims made” basis. This means the policy in force at the time a claim is made is the one that responds whether or not the negligent act occurred during the policy period. This basis of cover means it’s important to consider both the past and present exposure of a business in deciding what – and how much – protection to buy.

We specialise in a wide range of firms, both the traditional professions and the newer ones:

  • Accountants
  • Actuaries
  • Architects
  • Business Consultants
  • Design & Construction
  • Engineers
  • Estate Agents
  • Financial Advisers
  • IT Professionals
  • Media Professionals
  • Medical Professionals
  • Recruitment Agents
  • Solicitors
  • Surveyors & Valuers


This list is not exhaustive, so if you have an enquiry which is for a different profession, please get in touch as we place this cover for a huge range of company types.

The service we provide does not end once the policy has been arranged; we are on hand throughout the policy year to provide technical assistance and arrange any policy amendments required.

Our in-house claims team assists in presentation of claims to insurers and manages the process from first notification through to file closure. We take a proactive approach, whilst providing a personal, professional, efficient and friendly service.

MGP Also Provide:

  • Risk Management
  • Claims Assistance and Settlements
  • Ancillary General Business Insurance
  • Fire Risk Assessments