Holding sufficient Professional Indemnity (PI) insurance can help to secure clients' business by reassuring them that a firm is suitably protected, it has been claimed.

FinanceDaily reports that business insurance is an important aspect of daily operations, despite many companies viewing it as being among their more significant costs.

One proposed way of helping to minimise the cost is to obtain a tailored insurance package which addresses a firm's specific needs directly.

Indeed, in some cases a relevant policy is a crucial aspect of securing clients' custom, the publication observes.

"Usually proof of PI or Public Liability cover is needed," FinanceDaily suggests.

"Your customers need to know that they will be compensated appropriately should something happen to them because of you or your business."

Denis Palmer, senior manager at advisory service Business Link London, recently advised firms to put limitations to their advice in writing in order to attempt to prevent the possibility of high-value PI claims developing.

PYV are one of the UK's leading providers of professional indemnity insurance. This news article has been produced by Adfero in collaboration with PYV and its unauthorised use is not permitted.

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