Professional indemnity insurance

Professional indemnity insurance ("PII") has become increasingly important, and not only for consultants. The Society has worked for some considerable time to try to find satisfactory arrangements for its members to obtain PII.

There is of course a lively open market for PII. Several major insurance companies offer it, and members may wish to approach these companies directly. The premiums are sometimes rather high because they must, of necessity, reflect the situation in professions where, on the whole, risks are higher than in the profession of statistician.

In 2006, the Society concluded discussions with Towergate Professional Risks, a brokerage that specialises in professional liability insurance for professional associations and their members. Towergate has set up a scheme for Chartered Statisticians (including holders of MIS and FIS) and Graduate Statisticians, giving extensive cover at rates that might be found attractive. Chartered Statisticians and Graduate Statisticians can contact Towergate by phoning 0113 391 9555, asking for the underwriting team and seeking information about their Royal Statistical Society scheme.

We emphasise that decisions about whether and where to obtain PII are entirely a matter for individuals. The Society is not able to recommend or advise.