If you’re a member of the Association of Accounting Technicians, then you will no doubt be aware that AAT professional indemnity insurance is compulsory. The insurance cover can protect you against both statutory and contractual obligations.
In fact, the Financial Services Authority says that professional indemnity insurance is a liability insurance that protects “businesses in the event that a third party claims to have suffered a loss as a result of professional negligence”. In short, this means that the AAT professional indemnity insurance can cover at least some any financial claims made against a company.
You may believe that professional indemnity insurance is an often expensive, unnecessary overhead, but with awards made by Courts rising sharply in recent years, it is worth seriously considering taking out some form of indemnity cover.
Deciding where to buy your AAT professional indemnity insurance does not need not be a time consuming, expensive experience. By purchasing your cover online with a specialist broker, you can get access to the right level of protection needed. A broker who specialises in protection within your trade area can often offer bespoke cover.
A specialist AAT professional indemnity insurance broker can help to find you the right protection. They will often be able to insurance that is moulded to meet your business needs so that you get the right cover.
When buying your policy, check out how much the excess you will be liable for should a claim be sought against you as well as any exclusions that could mean that your claim would be ineligible.
Do confirm the exact amount and level of coverage that you will be getting before you buy, to when it comes to making sure that the policy is right for you.
Professional indemnity insurance can help your business to overcome unexpected issues and keep to the minimum any financial in the event of a claim. It will also help protect your reputation too.
Think about it – would your business be able to carry if you were sued? One claim see your business fail financially. However, having the financial protection of this form of indemnity insurance in place could put a stop to this.
Having the peace of mind that you have AAT professional indemnity insurance cover on your side can help you focus on the most important thing – running your business.
