The Business Exchange Bath & Somerset Issue 13: Autumn 2019 | Page 20

ADVERTISING FEATURE A BEGINNER’S GUIDE TO PROFESSIONAL INDEMNITY INSURANCE by Heather Houlihan, Jelf, Bath As a consultant, you are personally liable for the work you undertake. That means that if, for whatever reason, things don’t quite go to plan, you could find yourself liable for huge financial claims as a result of your work. Whether you’re having an off day or you’ve got a tricky client, it’s very easy to get in over your head when you are signing for a job. However, when you agree to carry out a professional service, you are making a contractual promise to provide the necessary degree of skill and experience to deliver responsibly. Failing to do so could leave you open to claims for compensation or even an appearance in court. Professional Indemnity (PI) is a type of insurance specially designed to protect professional people against claims for damage, injury or loss caused as a result of professional negligence. But not every PI policy will provide you with the essential cover you need to protect your business. Follow our beginner’s guide to PI insurance to help you find a policy that’s right for your business: 1. Find a policy that can be tailored to suit your business Opting for a standard policy could see you paying additional premium for cover you don’t need. Take the time to find a policy that can be tailored to suit your business, so you’re only paying for the cover that you want. 2. Find a specialist provider Give yourself the reassurance of knowing that your provider is committed to catering for your specific business needs. 3. Make sure the payment plan works for you Keep track of your renewal dates It’s important to remember that PI is offered on a claims-made basis. This means that you are only covered for claims made against you while your policy is in place. Losing track of your renewal dates could leave gaps in your insurance that allow your provider to refuse paying out when you need it most. [email protected] 01793 714431 If you could benefit from a review of your professional indemnity insurance, contact Jelf via Jelf.com. If you’re a new business, it’s good to know that some providers will let you pay in monthly instalments. Never sign onto a payment programme you’re not 100% happy with. 4. Do your own background checks! Of course, you expect your insurance provider to do background checks on you. But it never hurts to do a little research for yourself. Before you sign, make sure your provider has a good reputation, so if the worst happens you can have the confidence that claims will be dealt with efficiently. This is a marketing communication. Jelf Insurance Brokers Ltd is authorised and regulated by the Financial Conduct Authority (FCA). Not all products and services offered are regulated by the FCA (for details see jelf.com/info/ terms). Registered in England and Wales number 0837227. Registered Office: Hillside Court, Bowling Hill, Chipping Sodbury, BS37 6JX. FP19.541 For more info: www.jelf.com Meet the team at Hays Recruitment Hays Recruitment has been at the forefront of Bath recruitment since we established our offices here in 1997. Using our innovative ‘attraction strategy’ combined with our specialist local knowledge, we’re experts in finding, engaging with and matching qualified, professional and skilled people across a range of industry sectors. Here we introduce our Business Managers for the Bath office who have over 40 years of recruitment experience between them. Francesca enjoys the pace and variety of temporary recruitment, working tirelessly to ensure her clients expectations are exceeded and her candidates are placed in rewarding roles. Francesca was raised in Bath and knows the local market exceptionally well, allowing her to offer expert advice to our candidates and clients. Alexandra Hemmings – Alex has been Sarah Matthews - We are delighted to with Hays for over 15 years, supporting clients in the Wiltshire and Somerset areas. She has taken the lead in retaining and developing our accountancy and finance market and as a Business Manager, she looks after our temporary, contract and permanent positions. Alex prides herself in the professional service that she provides to both clients and candidates alike. She has a wealth of market knowledge and insight into all the latest trends in recruitment. welcome Sarah to the Bath team. Sarah joined Hays with 17 years of recruitment management experience having recruited for generalist roles over temporary, contract and permanent placements across Wiltshire and Somerset. With the changing landscape of recruitment and advancements in technology, Sarah has started her own Hays journey and advanced her career to the next level by taking the lead on permanent office support and HR opportunities. She is focusing on her visibility within the Bath market and has already forged some great relationships and seen success in partnering with Bath’s most sought after employers. Sarah said, “Having worked with Hays for nearly three months, the one thing that stands out to me is the amazing culture and a genuine desire to help each other succeed. Francesca Devadason – Francesca has been with Hays for nearly two years having joined us with over eight years of recruitment experience. As a Business Manager she leads our temporary recruitment division, specialising in office support and assisting in recruiting for permanent roles with salaries up to £25,000. 20 THE BUSINESS EXCHANGE 2019 This is infectious and is also evident in the longstanding relationships Hays has with clients and candidates. Our unrivalled access to all the latest recruitment information and reports, combined with our leading technology, makes me feel privileged to be working in such a forward-thinking organisation. Coming up, we have webinars on our ‘What Workers Want’ report. If you would like to know more, please get in touch with me at sarah.matthews1@ hays.com.” We also work closely with our Bristol office which covers Bath from an IT, legal, marketing, education and construction perspective. We consistently offer our in-depth expertise and a tailored service to our clients, helping to forge long standing relationships and careers. Alexandra Hemmings Francesca Devadason 01225 337676 For more info: www.hays.co.uk/local-jobs/bath Sarah Matthews