Small business insurtech announces new PI product

Insurtech Blip has expanded its offering with professional indemnity insurance.

The new policy will cover consultants, freelancers and advisors against claims of negligence, errors or omissions.

Blip said this cover ”reinforces” its commitment to safeguarding small businesses, with it also having public liability, employer’s liability, personal accident support, business tools and equipment propositions available.

Gary Ross, chief executive at Blip, said: “Our professional indemnity insurance is another step in our mission to provide comprehensive [propositions] to all UK businesses, not just those who make and sell tangible things, but those that provide expert advice and services.

“At Blip, we know small businesses face ever growing risks and deserve coverage that’s not only affordable, but built to protect.”

Better value

Meanwhile, the firm has also announced how it will help members get better value.

One way is through a price match promise, with it matching any lower price found for the same coverage up to a £1m policy limit.

Blip will also share up to 10% of total policy premiums back to customers if claims and expenses are lower than premiums.

Ross said: “We want to unite UK businesses to help them grow and, at the same time, join Blip and share in our profits. This is just the next step on our journey.”