Protect your business with professional indemnity insurance

Starting a business is fulfilling, but managing a business can be risky, especially if you run an advisory and consultancy business. If a client builds a case against you, your business should be prepared to handle the impact.

What is professional indemnity insurance

Professional Indemnity protects businesses from liability and potential costs and expenses resulting from alleged errors, omissions, negligence, misleading statements, or breach of confidentiality while rendering professional services.

Cover starts from S$2,000 per year.

What does professional indemnity insurance cover

Occurrences that happened in the course of providing the professional services:

Unintentional defamation
Unintentional infringement of intellectual property
Loss of documents under the care of the business
Expenses for legal representation at investigations
Liability arising from joint ventures

Types of business that should get professional indemnity insurance

Businesses that provide advise and professional services to customers.
Companies that manage data or intellectual property of clients.
Companies that have contracts with large clients that can afford to take legal action against your company.
Companies that outsource work to subcontractors.
In some cases, clients will require their contractors to have Professional Indemnity as part of the contract.

Why does professional indemnity insurance matter

Professional indemnity insurance provides you with protection against allegations of malpractice, negligence and professional misconduct
This product also offers extension for crisis communication to protect your business’s reputation.

Case studies and more content

Huawei sues Verizon for copyright infringement

Reuters

July 7, 2021

3 min read

Noor Azlin sues Changi General Hospital for negligence

The Straits Times

September 7, 2020

3 min read

Man Sues and settles negligence claims with contractor

thenewpaper

September 7, 2020

3 min read

Professional indemnity insurance in Singapore

Sleek

9 min read

Loved by entrepreneurs across the world

Arnaud Rastoul

CEO & Co-Founder, TetriXX Pte. Ltd.

“We have been working with Sleek for Corporation secretary, Accounting and Payroll. The team is very responsive and helpful in finding and implementing the best options for our company.”

Praveen Dayal

Lead Trainer, Elite Expertise Pte. Ltd.

“If you’re looking for a company that can provide exceptional service in company incorporation, company secretary, accounting services and support, look no further than Sleek.”

Rishi Chadha

Director, SentientGaming QA Solutions

“We have been working with Sleek since April-2022. I can say without any hesitation they are simply brilliant, listening to clients and always available for crisis management.”

John-Guy Park

Founder & CEO, Workfutur Pte Ltd.

“We’ve been with Sleek since the very beginning of our business. They helped with Seed EIS, R&D and implementing an online cloud bookkeeping system through Xero. Sleek has undoubtedly helped us grow our business.”

Sophie Chhuon

Founder, POASIA

We have recently engaged Sleek as our corporate secretary and accountant, so far we are happy with their service. The team as been very proactive, and managed our requests. Thanks Sleek team for the professionalism!”

Sheila Karpe

Founder, Unearth Balance

“Sleek is an absolutely breeze to work with. They make the entire of process of incorporate your business to the AGM work like clockwork. Their advice has always been spot on and they by far have the most competitive rates on the market.”

Frequently Asked Questions

Why do I need a professional indemnity insurance policy?

Professional services rendered are prone to human error. Having professional indemnity insurance will mitigate the risk and reduce the financial impact resulting from such inevitable and unexpected errors.

Is professional indemnity insurance only for lawyers, doctors and accountants?

No, the insurance can also apply to other service providers or consultants, such as real estate agents, sports instructors, and marketing consultants.

Need more information?

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