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Important information: We have followed Government advice and closed our branches. However, please be assured that our priority remains providing our clients with support and advice at all times and our teams are on-hand to take your calls or emails.
Contact details for all our employees can be found here.

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Speak directly to our team

01603 218000

Run-off insurance is a must-have policy if you’ve been providing advice or services in a professional capacity and are planning to cease trading. In the simplest terms, it replaces your professional indemnity insurance policy and provides a similar range of protection.

  • High cover limits
  • Competitively priced
  • Decreasing premiums over time
  • Option to take single-premium cover for up to six years*
  • Expert advice
  • In-house claims team
  • Range of industry specialisms

*dependent on profession

Alan Boswell Group difference

Alan Boswell Group - personal

Having arranged commercial insurance since 1982, we know that every business is different. If you’re planning to cease trading, our insurance specialists can make sure you have the right run-off cover in place to protect you against future claims, so you have complete peace of mind.

How our customers rate us

All very helpful and efficient. I think they made a real effort to understand how my organisation works and what I need.

Mr Vincent - Professional indemnity insurance

Run-off cover in detail

Because professional indemnity insurance is a claims-made policy (i.e. your claim falls to the policy that’s currently in place, not the one in force at the time an incident occurred), you need to maintain cover even when you cease trading.

Run-off provides cover for legal costs and compensation claims from third parties. These may arise as a result of providing negligent advice or services resulting in financial loss.

  • Decreasing premiums available The price you pay for cover will decrease year-on-year, as the risks you face decrease over time
  • Civil liability If a client, or end user, has suffered financial losses because of any advice, information or designs you provided, run-off will cover legal costs, awards and settlements.
  • Breach of confidentiality If a client entrusted your business with personal information or confidential details and these are unintentionally shared without their permission.
  • Defamation If you accidentally damaged someone’s reputation in the process of conducting your business, resulting in legal action and compensation being awarded. Run-off will cover these costs up to the value of your cover limit.
  • Copyright/trademark infringement If your advice unintentionally suggested your client should copy or produce a derivative of another work, you may be pursued by the copyright holder or your client for loss of income.
  • Formal investigation If you are investigated by your professional or regulatory body, PI will help defend any legal action brought against you.
  • Employee dishonesty Provides cover if your customers suffer a loss caused by a dishonest or fraudulent act by a member of your team.
  • Disputed fees Legal cover if you seek unpaid fees and your client threatens to counter sue if you pursue them.
  • Pollution This can be added to your policy if advice or designs result in environmental damage.

Compensation claims can still be brought against you even if you provided a service or your advice for free.

FAQs

  • The recommended amount of cover (often referred to as a “limit of indemnity”) varies according to your business. It depends upon the type of work undertaken, typical contract values and a host of other factors. If you want guidance on a suitable limit, either contact us or speak to your professional or industry body.

  • In general, any business that provides advice, design, specifications or knowledge. We can arrange run-off for a range of businesses and professions, from IT consultants to architects.

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