The jurisdiction of many worldwide policies excludes the United States and Canada as standard. This is because the USA and Canada are far more litigious than the UK, with higher legal costs and difficulties with a UK based insurer appointing a US or Canadian-based legal expert. Each of the 52 states in America has its own local laws, which complicates the legal system further and subsequently increases legal costs. Despite the increased risk of a lawsuit, if you do have USA or Canadian clients you can still obtain professional indemnity (PI) cover, however, the cost of the insurance package will be higher to reflect the associated risks. If you are working with the USA or Canadian clients, a written contract is essential to ensure that your PI policy matches it and covers you specifically for the area you are working in. When arranging your PI cover, look out for the phrase Worldwide, indicating you’re covered for the USA and Canada, and Jurisdictional Limits or Applicable Courts on your policy schedule to see what areas you are covered for. If your policy says Worldwide, excluding USA and Canada you will not be covered. As specialists in business, we can add USA and Canada to your PI at any time during the policy period and advise you on what risks you should be covered for.
Very few insurance brokers understand the industry as well as we do. For over a decade we have specialised in insuring and advising finance, technology and media companies about their risk. As specialists in IT and tech insurance, we understand the risks of consultants and businesses, and what you need to support and protect your business in case of a professional liability claim. Working closely with insurers, and insuring all businesses types from self-employed to high-value FTSE companies and Family Offices, we offer insurance packages with comprehensive protection not available anywhere else.