The short answer
PI is a claims-made policy covering financial loss caused by your negligent advice, design or service. It must be in force when the claim is made — not when the work was done — so run-off cover is essential after closing a business.
Frequently asked
- What is run-off cover?
- Continues PI cover for past work after you cease trading. Typically required for 6 years to match the Limitation Act.
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