Professional Indemnity Insurance for Barristers
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Why choose Professional Indemnity for Barristers from Gallagher?
Professional Indemnity insurance is a type of liability coverage designed to protect professionals and businesses against claims of a breach of their professional duty of care that arises in connection with the conduct of their business activities.
A breach of this duty of care, through negligence, error or omission, may leave you liable for both the direct and indirect losses of the claimant or claimants, as well as the significant costs that may be incurred in defending such an action.
Professional Indemnity Insurance provides the individual or firm protection from the financial consequences of professional negligence following such a breach or alleged breach of professional duty.
With a specialist financial lines team in place, we are uniquely placed to provide dedicated broking and claims handling services.
This scheme is open to all Members of the role as regulated by the LSRA and offers considerable unique benefits not provided by any other broker or insurer.
Contact our Team todayKey Benefits
Bespoke wording written specifically for Barristers
Quick and easy process with only 6 questions required at both new business and renewal stage
Community Rating - Claims against you will not affect your individual premium or terms.
Guaranteed Renewal
Policy limits up to €6.5m Any One Claim available with higher limits available upon request.
Run-off cover available at a flat rate, regardless of circumstances, at flat premium in event of retirement, leave of absence or elevation to the bench
Free run-off cover is automatically provided for the benefit of the estates and heirs of deceased members.
Cover for your practice in Northern Ireland up to 30% of your annual Fees where requested.
USA / Canada work can be accommodated on request.
Dedicated claims handling support and advice.
We are here for you. You have access to our dedicated staff to handle all of your insurance queries.
Exclusive discounts available on home, motor and life and pensions products
Benefits of Choosing Gallagher
The global strength of Gallagher gives you access to more insurance markets
We provide cost-effective, client-centric, and expertise-driven risk management solutions
We will assign you a dedicated and qualified business advisor with local knowledge to look after your insurance needs
In the unfortunate event of a claim, our in-house Claims Team will work on your behalf
Since 1927, Gallagher has led with integrity, ethics and purpose — the building blocks of The Gallagher Way.
Claims Made Basis of Cover
Professional Indemnity operates on a “claims made” basis. This means that it is the policy that is in force at the time a claim is first notified to you, or at the time you first become aware of a circumstance which could give rise to a claim that will respond, not the policy that may have been in force at the time the acts, works, services, etc. giving rise to the claim actually took place.
You are obliged under the terms of any policy to immediately notify your insurers as soon as you become aware of a claim or circumstances that could give rise to a claim against you. Failure to do so may result in your entitlement to indemnity being lost. If in doubt as to whether a circumstance should be notified, please speak to your broker.
There must be a current policy of insurance in place in order for cover to operate. If cover is cancelled or allowed to lapse then all entitlement to indemnity in respect of subsequent claims ceases. Thus there would beno further protection in respect of any future claims which may arise from past work.
Selecting a Limit of Indemnity
All Professional Indemnity policies operate subject to a Limit of Indemnity which should be reviewed on a continual basis.
The Limit of Indemnity should reflect the maximum probable claim that could be made against you, taking account of claimant’s costs. Should a claim exceed the limit of indemnity, you could be liable to the claimant for the uninsured balance.
It must be noted that all claims arising from the same neglect, act, error or omission or consequent upon or attributable to the same cause or original source will be treated by insurers as a single claim. Therefore the maximum amount payable by the insurers in respect of the aggregate cost of such claims would not exceed the amount of the selected Limit of Indemnity.
It is up to you to choose the precise level of cover you should maintain. You know your business better than your broker or your insurance company – you have a greater understanding of the risks you face, the expectations of your clients and the liabilities you assume.