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Short answer: it may respond, but the fact that a project has ended does not decide cover. Professional indemnity (PI) commonly operates on a claims-made basis, so the policy in force when a claim is first made and notified can matter, along with its retroactive date, exclusions and reporting conditions.
Why timing matters
A client may discover an alleged specification, design or advice error months after completion. Check whether the policy covers the relevant professional services and whether the alleged act falls after the retroactive date shown on the schedule. A change of insurer or lapse in cover can affect continuity; do not assume a new policy automatically picks up earlier work.
Read the definition of a claim and the notification clause. Some wordings require prompt notice of a claim or circumstance that may lead to one. Failing to notify in the way required can create complications. Keep dated project records, instructions, approvals and handover documents, and speak to the broker or insurer promptly if an allegation arrives.
What should a consultancy review?
- Professional activities and services listed on the schedule.
- Retroactive date and any continuity arrangements at renewal.
- Contract terms, liability caps and any warranties or fitness-for-purpose promises.
- Claims and circumstances reporting requirements.
Insure24 provides professional indemnity information and a route to discuss an enquiry. Insure24 is a broker, not an insurer. The response to any claim depends on the facts and the insurer’s wording and decision.
General information only; this is not advice on a particular claim or policy.
Common questions
Does this article replace insurance advice?
No. It is general guidance only. The right policy still depends on the business activity, contracts, locations, turnover, staff, assets, claims history and insurer wording.
What information should I prepare before asking for quotes?
Prepare turnover, wage roll, activities, locations, contract requirements, claims history, asset values, existing policy details and any deadlines for evidence of cover.
Where should I go next?
Use the main Professional Indemnity Insurance page if you are ready to compare quote-led cover options or talk through the risk with Insure24.