5 Professional Indemnity Myths Busted
1. “Professional indemnity cover is a legal requirement”
For photographers, Professional Indemnity Insurance is not actually required by statutory law but contractual law could engulf the unwary in testy and costly disagreements, lawsuits and legal bills.
If you enter into an agreement to shoot an event for a paying customer you are entering into a contract, whether this in writing or verbal. If something goes wrong your Professional reputation comes under the spotlight and the finger of blame can be pointed in your direction. In today’s online world it can be extremely difficult to keep these disagreements quiet. Insurance protection can become that essential ‘phone a friend’.
2. “It’s not relevant to my work”
Professional Indemnity insurance is designed for any business that provides a specialist service, handles client data, or deals with intellectual property. It can cover photographers for allegations of professional negligence, breaches of copyright, or for losing client data – all very relevant risks!
3. “You only need it if you produce poor quality work”
While it’s true that professional indemnity is primarily designed to cover you in the case of making an error in your work, it doesn’t mean that you are unprofessional or inexperienced.
It’s possible for even the most skilful photographer to make a mistake in their work and claims are more common than you think. It may even be the case that a client accuses you of making a mistake when you haven’t actually done anything wrong! Unfortunately, in today’s ‘claim culture’ this is becoming increasingly common so don’t jeopardise your livelihood as a result of negligence claims, true or false.
4. “I’d only need a small amount of cover”
Compensation pay-outs and legal expenses can be significant. Our advice is never settle for the lowest level of cover and the cheapest option as it is often a false economy that only becomes clear when things go wrong. We can provide you with a great value insurance package that will protect you when you need it most.
5. “Buying Professional Indemnity insurance is a hassle”
Perhaps the biggest myth of all!! Getting covered really is quite simple. When you insure with Infocus you can get a quotation in a matter of minutes, and are able to add things on such as Public Liability or Equipment cover in order to create a comprehensive policy.
If you need any more information on Professional Indemnity Insurance, or any of our other policies then please get in touch with a member of our friendly team today!