1. Know what your professional duties and legal responsibilities are at all times
2. Be conscious of what could cause a professional indemnity claim – remember if a complaint escalates and becomes a PII claim and insurers might consider that the compliant was the notifiable circumstance. This might invalidate your cover if you have note reported the circumstances quickly enough to your insurers – this can be as little as within 14 days.
3. Keep complete and accurate written records of all of the advice that you give as well as any recommendations or communications you have with your clients. Don’t forget to keep telephone notes.
4. Know when to ask. We don’t all know everything – recognise what you do and don’t know and when you should ask for help or guidance form peers, associates or a governing body.
5. Never assume that your client knows or is aware of something that appears to be obvious to you. Not everyone is as insightful as you are.
6. Never send a written communication without double and triple checking it.
7. Never put anything in writing that you would not want read out in public or in court.
8. If you don’t know for certain say so don’t wing it or make things up just to get a sale.
9. If you are worried you might be about to get a claim call your PI broker immediately – far better to check now than be sorry later.
10. Buy your Professional Indemnity Insurance form an expert, not a call centre. If you need to claim you will want someone on hand to help you who you can rely on and to be sure that your Professional Indemnity policy gives you the best protection available.