If you as an individual or as a business provide advice for a fee you should consider covering against claims for financial loss incurred by a customer as a result of your advice.

Such cover is there to defend potentially costly actions by third parties where you have not been negligent as well as to provide an indemnity should negligence be proved against you.

Costs incurred in defending claims are usually provided in addition to the limit of indemnity

Cover is traditionally written on a ‘claims made’ basis meaning that you should maintain cover not only whilst the business is operating but for some time after to pick up any claims made after the business has closed for work undertaken before.