Professional indemnity for fintech companies is unique as it should cover both traditional claims linked to allegations of mistakes and negligence, but also claims related to software deliverables, accessibility and performance.
In financial services that is typically anything that is deemed to be a complaint under Financial Conduct Authority FCA rules.
It will help you provide a formal response to any complaints and will also cover any compensation that the Financial Ombudsman Service, you or your insurers deem payable.
Comprehensive professional indemnity for fintech companies must also cover the company’s reliance on software. You may also be reliant on up-time, accessibility, but also the software working as it should.
