Preferential Rates on Professional Liability

Insurance for members of the

International Business and Personal Development Association

In today’s litigious society your business is increasingly vulnerable to compensation claims from your customers and other members of the public. The consequences for a small business could be serious, with claims often running into thousands of pounds.

At Towergate Professional Risks, we specialise in providing professional liability insurance to protect your business in the event of such a claim.

 The cover includes the following:

• Public Liability – This protects you against your liability to customers for injury or loss. For example, clients could trip and injure themselves whilst visiting your home or business premises.
• Products Liability – If as part of your job you sell or pass on any products to your customers, this section provides cover against any liability arising out of the use of these products.
• Professional Indemnity – This section applies to the advice you give to your clients, and protects you in the event of any errors or omissions on your part, which lead to loss or injury.
• Libel & Slander – You may write articles for trade journals or magazines, and this section of the policy also covers against any liability from this type of activity.

 As a member of IBPDA you are able to receive a specially negotiated discount on the cost of this policy. Please see below for ways in which you can take advantage of this offer. 

 Arrange your cover online

You can now obtain a quote and even arrange and pay for cover online through our secure website – www.towergateprofessionalrisks.co.uk. Arranging the cover takes just a matter of minutes and you can be insured instantly.

 Or call us today

If you’d prefer to speak to an adviser and have any queries about the cover, our dedicated team are on hand to help and would be happy to discuss your needs and give you a quotation for your business.

Call Towergate Professional Risks on 0113 391 9555

(Monday to Friday 8:30am – 5:30pm)

 Or visit our website: www.towergateprofessionalrisks.co.uk

Professional Liability insurance explained

 Like a growing number of professional associations, the IBPDA recognises the importance of professional liability insurance for therapists. However, you may be forgiven for asking what exactly this insurance is, what it covers, and why you might need it.

 Therapists, much like any other professionals, could be increasingly vulnerable to claims for compensation from clients and other third parties. For a sole trader or small business, the consequences could be very serious, as claims often run in to thousands of pounds.

 Insurance protects practitioners in the event of being sued as a result of their business activities. Having insurance in place also demonstrates your professionalism, and you should make potential new clients aware of the fact that should anything go wrong, funds are in place to compensate them for any loss or injury they suffer.

What it covers

Professional Liability insurance is designed to cover as broad a range as possible of ‘civil liabilities’ – in other words, most of the things you could get sued for as a result of your business activities.

Typically, it includes cover for Professional Indemnity, Public Liability, Products Liability and Libel and Slander. In the past, these covers might have been bought separately, but nowadays these can usually be provided under one policy.

So, what exactly does each of these sections cover?

Professional Indemnity relates to the advisory or therapeutic part of your work and covers any malpractice, errors or omissions on your part. If your client suffered a loss which was deemed to be a result of your advice – for example, the type of treatment to be carried out – as opposed to the physical treatment they received – this section of the policy would apply.

 Public Liability relates to any other loss or injury resulting from your professional dealings with the client. These could be specific to the treatment, such as an injury following massage treatment, or more general, such as a client tripping over a briefcase you had left lying around.

 If you sell any products to your clients to complement their treatment, such as supplements and vitamins, a relaxation CD or a book, you could also be liable for any losses occurring as a result of the use of these products, even if you did not manufacture them yourself. The Products Liability section covers this type of claim.

 The final section is Libel & Slander. To many, this may seem like a strange type of insurance cover for a complementary therapist to have. However, the complementary medical profession is a very collaborative one. Many experienced practitioners will share their expertise with others at local association meetings and even at larger trade shows and exhibitions. They might even publish their thoughts in newsletters, journals, websites, blogs or podcasts. Before you know it, you could find your words and opinions are seen by thousands of people world wide. If you shared your thoughts with other practitioners and inadvertently made a comment which another party felt was defamatory against them, they may consider taking action against you for defamation.

 The claims process

As with most types of insurance, it might only be in the event of a claim that you really see the benefit of having a policy in place. If you do receive a claim, or have any reason to think you might receive one, you should contact your insurer or broker straight away. They will know exactly what to do or say, and also what to avoid, to ensure that any harm done is mitigated.

 Some claims will be more straightforward and can be settled very quickly, easily and amicably. If the claim is more complex, the insurers will take whatever action necessary, even appointing a solicitor if required, on your behalf. Typically, a policy will cover your legal costs and the insurer will pay solicitors directly so there is no need for you to incur any cost defending the claim, unless an excess applies under the policy (where you agree to pay the first amount of any claim).

 Although the vast majority of therapists never need to claim, the consequences of a claim could be serious - a sole trader’s personal assets (such as their house and car etc) could be at risk if they didn’t have funds in place to meet a compensation claim.

 So, for a small practitioner, it is possible that Professional Liability insurance could make the difference between their business surviving or not surviving.

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