PI & PL scheme for members
ibd members used to have access to a group PI & PL scheme through an existing member. Unfortunately, that member passed away a year or so ago and ibd members lost access to the scheme.
We are pleased to say that we have been able to renegotiate access to the scheme for all ibd members and as from today you are now able to join this. Whilst all members must have a suitable PI and PL insurance for their business, - Note there is no compulsion to use the group scheme.
The specialist Professional Indemnity and Public Liability facility, underwritten by Hiscox, has been specifically designed for ibd members. The facility offers comprehensive Professional Indemnity and Public Liability cover with the option to include employers liability, cover for your office, hacker damage and Business HR at competitive premiums. They also offer a professional claims service.
The policy is specifically designed to provide comprehensive protection for Management Consultants and includes the following covers and benefits as standard:
• Negligence or breach of a duty of care: covering your business against giving bad advice as a result of your business activities
• Privacy: cover for breach of privacy and infringement of any right to privacy
• Dishonesty: if an employee steals money from you without your knowledge
• Rectification: covering costs up to a specified limit of putting right lost or damaged on – electronically held documents of a professional nature
• Intellectual property: covering you if you accidentally infringe someone else’s intellectual property
• Advertising: cover given for your own advertising, for example making a statement in a leaflet that you are subsequently unable to substantiate
• Computer virus: if a computer virus was specifically targeted at you and you negligently forwarded an email to your customer which contained the virus, the cover is provided to help put this right
• Court attendance: if you or an employee have to attend court in connection with a covered claim, costs are covered up to a specified limit for that court attendance
• Public Liability: visitors to your office and your employees working away from your office can leave you exposed to claims from third parties. Our facility covers you and your employees worldwide up to a limit of £1,000,000 as standard, with the option to increase up to a maximum of £5,000,000
• Crisis containment: in a crisis, reputational damage can destroy your business. To help you manage the risk, cover is included for crisis containment, offering immediate and 24-hour access to a specialist crisis management PR firm, up to a limit of £25,000 in costs
All information is in the member’s downloads section and you will find
• Proposal form with rates and options
• Group Policy wording
ibd is not taking any fees from this so please forward all information requests to