Professional Indemnity Insurance
Professional Indemnity Insurance starting from Kshs.5000 per year for Individual Practioners
Professional Indemnity Insurance is an essential safeguard for any professional operating in Kenya. By providing comprehensive coverage against claims of negligence and errors, this insurance helps protect your financial interests and maintain your professional reputation. Explore options from trusted insurers to find a policy that best meets your needs and secures your practice against unforeseen challenges
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Professional Indemnity Insurance (PII) is a crucial form of liability coverage for professionals in Kenya, protecting against claims arising from negligence, errors, or omissions in the services provided. This insurance is essential for individuals and businesses in professions where advice, recommendations, or services are offered, ensuring financial stability and peace of mind in the face of potential legal disputes.
Key Features
- Coverage for Negligence Claims
- Protects against claims of professional negligence that may arise from errors or omissions in the services rendered.
- Coverage typically includes legal costs, settlements, and damages awarded to claimants.
- Wide Range of Professions Covered
- Suitable for various professionals including:
- Consultants and Advisors
- Legal Professionals
- Accountants and Financial Advisors
- Architects and Engineers
- Medical Practitioners
- Each profession may have tailored coverage options to address specific risks.
- Suitable for various professionals including:
- Legal Costs Coverage
- Covers all legal expenses associated with defending against claims, including court fees and attorney costs.
- Ensures that professionals can focus on their practice without the burden of financial strain from legal proceedings.
- Reputation Management
- Assists in managing reputational damage resulting from claims, helping to maintain client trust and confidence.
- Demonstrates a commitment to professional standards and accountability.
- Optional Extensions
- Policies can be extended to cover additional risks such as:
- Loss of documents
- Dishonesty of employees
- Defamation claims
- Liability for previous partners or outgoing partners’ actions
- Policies can be extended to cover additional risks such as:
Pricing Plans
- Basic professional indemnity insurance plans start from approximately KES 5,000 per year for individual practitioners.
- Comprehensive plans for larger firms or those with higher risk profiles can range from KES 20,000 to KES 100,000 annually based on the profession and coverage limits selected.
Insurers Offering Professional Indemnity Insurance
Several reputable insurance providers in Kenya offer professional indemnity insurance products:
- Madison Insurance
- CIC Insurance Group
- First Assurance
- Jubilee Insurance
- AIG Kenya
- Sanlam General Insurance
