Personal indemnity insurance is the term many people use for professional indemnity insurance, the cover that protects against claims that your advice or work caused a client financial loss. This comparison sets six FCA-authorised UK providers side by side across the dimensions that matter, using the FCA Register and Association of British Insurers sources. It is data-driven rather than rated. Kael Tripton does not provide quotes, does not route enquiries to brokers, and does not earn commission from any provider mentioned.
Key Facts
- Personal indemnity, more correctly professional indemnity, covers the cost of compensating clients for loss caused by negligent advice or services (ABI, accessed June 2026).
- A claim can be brought even where advice or a service was provided for free (ABI, accessed June 2026).
- Professional indemnity is usually written on a claims-made basis, so the policy in force when a claim is made responds (ABI, accessed June 2026).
- Some regulated professions must hold it; for example, solicitors are required to hold between £2 million and £3 million per claim (ABI, accessed June 2026).
- All providers compared must be FCA-authorised, and disputes can be referred to the Financial Ombudsman Service (FCA; FOS, accessed June 2026).
Comparison methodology
A note on terminology first. There is no separate product called personal indemnity insurance in the UK market; the phrase is widely used to mean professional indemnity insurance. This comparison therefore covers professional indemnity providers. Where your profession has a regulator, that regulator may set a minimum level and specific policy terms you must meet, so check those requirements before comparing.
This comparison includes six providers active in UK professional indemnity, chosen to span specialist insurers, brokers, and large general insurers. The dimensions compared are the ones that decide the cover: the limit of indemnity, the cover basis, retroactive and run-off cover, who the policy suits, distribution, and FCA authorisation. Providers are listed alphabetically with no ranking implied. Details reflect published documentation, and FCA reference numbers are shown where independently confirmed on the FCA Register at register.fca.org.uk, accessed June 2026; others are marked for verification.
Professional indemnity comparison table
| Dimension | AXA | Aviva | Hiscox | Markel | PolicyBee | QBE |
|---|---|---|---|---|---|---|
| Limit of indemnity | From £1m | From £1m | From £1m | From £1m | From £50k | From £1m |
| Cover basis | Claims-made | Claims-made | Claims-made | Claims-made | Claims-made | Claims-made |
| Retroactive cover | Available | Available | Available | Available | Available | Available |
| Run-off cover | Available | Available | Available | Available | Available | Available |
| Distribution | Direct and brokers | Brokers and direct | Direct and brokers | Brokers | Broker (online) | Brokers |
| Typical buyer | SMEs and professionals | SMEs and professionals | Consultants and services | Specialist professions | Freelancers and micro firms | Mid-market professionals |
| FCA reference | 202312 | 202153 | 113849 | Verify | Verify | 202842 |
Limits reflect commonly offered entry points and can be higher on referral. FCA reference numbers are from the FCA Register, accessed June 2026; entries marked "Verify" should be checked on the Register.
Reading the comparison
The limit of indemnity is the headline figure, but the right level is rarely a matter of preference. It is driven by the value of the contracts you work on, the financial loss a client could suffer if your work went wrong, and any minimum set by your professional regulator. Solicitors, for example, face a regulator minimum of between £2 million and £3 million per claim. Where one provider shows a lower entry point, such as cover from £50,000, that suits low-risk freelancers but would be inadequate for higher-value advisory work.
Every provider here writes on a claims-made basis, which is the single most important feature to understand. A claims-made policy responds to claims made during its term, regardless of when the work was done, provided the work falls after any retroactive date. This is why two further rows matter. Retroactive cover extends protection to work carried out before the current policy started, and run-off cover protects you against claims that arrive after you stop trading. Letting cover lapse without run-off can leave years of past work uninsured.
Distribution affects how you buy and how much guidance you get. Large insurers and specialists sell through brokers and sometimes direct, while online-focused brokers suit straightforward, lower-value risks bought quickly. None of these differences make one provider better than another; they suit different professions and risk profiles.
The excess and any aggregate limit also deserve attention. Some policies apply a single limit for any one claim, others apply an aggregate limit for all claims in the period, which behaves very differently if you face several claims at once. Read the schedule for the limit structure, the excess, and the definition of the professional business covered, because cover only applies to the activities described. If your work changes during the year, tell the insurer, as a description that no longer matches what you do can leave a claim uncovered.
Provider-by-provider context
Hiscox
Authorised by the FCA under reference 113849, Hiscox is a specialist in cover for professionals and small businesses, offering professional indemnity for a wide range of consultancy and service activities, sold direct and through brokers.
AXA
Authorised under reference 202312, AXA offers professional indemnity within its business insurance, suited to SMEs and professionals buying packaged cover direct or through brokers.
Aviva
Authorised under reference 202153, Aviva provides professional indemnity within commercial policies for SMEs and professionals, distributed through brokers and directly.
QBE
Authorised under reference 202842, QBE focuses on mid-market professional indemnity placed through brokers, suited to larger or more specialist professional firms.
Markel
Markel is a specialist insurer for professions and niche sectors. Confirm the authorised legal entity on the FCA Register. It suits specialist professions needing tailored wordings.
PolicyBee
PolicyBee is a broker arranging professional indemnity for freelancers and small firms, often online. Confirm the authorised firm on the FCA Register. It suits lower-value, straightforward risks.
How to choose between these providers
Start with your regulator. If a professional body sets a minimum limit or specific terms, those override any general comparison. Then size the limit to the financial loss your work could cause a client, not just your fees, because a small fee can accompany a large potential loss.
Confirm the retroactive date covers all your past work, and plan for run-off cover if you might stop trading. Check whether the limit is per claim or in the aggregate, and read the definition of your professional business in the schedule. Finally, verify the insurer or broker on the FCA Register before buying, and remember eligible disputes can go to the Financial Ombudsman Service.
Frequently asked questions
Is personal indemnity insurance the same as professional indemnity?
Yes. Personal indemnity is a commonly used term for professional indemnity insurance, which covers claims that your advice or work caused a client financial loss. There is no separate personal indemnity product in the UK market.
What does professional indemnity insurance cover?
It covers the cost of compensating a client for loss caused by negligent advice or services, plus the legal costs of defending the claim. According to the ABI, a claim can be brought even where the advice or service was provided for free.
What does claims-made cover mean?
Claims-made means the policy in force when a claim is made responds, not the one in force when the work was done. This is why retroactive cover for past work and run-off cover after you stop trading are important.
How much professional indemnity cover do I need?
The limit should reflect the financial loss your work could cause a client and any minimum set by your regulator. For example, the ABI notes solicitors must hold between £2 million and £3 million per claim.
What is run-off cover?
Run-off cover continues to protect you against claims that arrive after you stop trading or retire, covering work done while you were active. Without it, a claims-made policy that has lapsed may not respond.
How do I check a professional indemnity provider is authorised?
Search the firm's name or reference number on the FCA Register at register.fca.org.uk. All providers must be FCA-authorised, and eligible disputes can be referred to the Financial Ombudsman Service.
