Prof Indemnity Question

[kaiser78]

I have been looking at the PI in the CUK insurance section and would appreciate if someone could explain what the 'fee bands' and limit of indemnity' relate to in the table.

Also what level of cover does anyone have ? I have never seen the need to have any cover, but have been thinking recently that I would be more comfortable having some level.

Thanks in advance.

[malvolio]

Like any insurance, it's a risk asessment. One of the factors is how much you charge; higher charges, higher potential insured losses, higher premium.

As for how much you want, it's whatever is stipulated in your contract you should have, but £1m is good working average.