October 20th, 2022.

Although being your own boss has plenty of benefits, it also means the buck stops with you. You’re on the hook for winning clients, delivering work and making sure you get paid for it. The same goes for keeping track of what you earn and putting the right amount away, so you can pass along what you owe to the taxman.

In between all of your other responsibilities, it’s easy to forget to protect your business too. It’s hard to envisage any customer being unhappy enough to sue, but mistakes happen – and when they do, they can cost you and your clients a lot of money. One way to equip your business to deal with the possibility of legal action is through professional indemnity insurance.

What is professional indemnity insurance?
Professional indemnity insurance is used by sole traders, freelancers and business owners to secure against being sued by clients who say they’ve suffered a financial loss, specifically due to a mistake they claim you’ve made. The main things this type of insurance covers are your legal fees and the costs of resolving the issue in question...

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