Top 5 Occupations at Risk from Professional Indemnity Claims
Professional indemnity claims occur in instances of professional negligence and/or breach of contract. If a client of yours suffers financial loss as a result of alleged neglect, error or omission on your part, they will not hesitate to pursue a claim. PI claims cause significant damage to your professional reputation and often result in hefty […]
Accountants: 3 Considerations for Professional Indemnity Insurance
There’s a certain amount of risk in everything but when it comes to offering professional advice or services to a client, the risk can be much greater than normal and the consequences more severe than you might ever have imagined. Unfortunately, with the nature of their business, the level and complexity of data they deal […]
Professional Indemnity Insurance – A guide for IT Consultants
If you’re an IT Consultant and don’t currently have professional indemnity insurance, you could be leaving yourself open to some rather hefty expenses. That’s why we have put together this handy guide, to help you navigate the potential pitfalls and ensure you have the correct IT contractor insurance in place to protect you. Professional indemnity […]
Do You Need Retroactive Professional Indemnity Cover?
As most people are aware, an insurance policy is a legally binding contract between a policyholder (you) and the insurer. In the contract, terms and conditions are set out, whereby you pay a premium to the insurer, in exchange for which they compensate you for loss after some manner of unforeseen event. KNOW YOUR POLICY […]
Why Directors And Officers Insurance Is Needed At Non-Profit Organisations
Despite non-profit organisations not having any shareholders, they are just as vulnerable to lawsuits as private companies, so there is still a need for Directors and Officers insurance. In fact, since a recent court ruling, it has become more important than ever. In the case of Lemington Home for the Aged v. Baldwin, the court […]
Should HR consultants take out professional indemnity insurance?
In the course of their work, HR consultants can be exposed to numerous situations which could lead to professional indemnity claims. Regardless of the standard of your work, all it takes is one disgruntled client for a professional indemnity claim to emerge. Protection is available for your business and finances by taking out a specialist […]
Professional Indemnity – Top 5 FAQ’s
Professional indemnity is an area we’re commonly asked about, which is why we’ve decided to compile answers to the five most frequently asked questions. To start with a definition, professional indemnity occurs when a client believes that a service or product you supplied them with did not fulfil your duty of care to them. For […]
5 Tips for Renewing Professional Indemnity Insurance
If you are renewing your Professional Indemnity Insurance policy, it is important not to assume that the cheapest quote is the best. It is also highly important not to take a quote or policy at face value. Firms should look at the insurer in terms of financial stability, premium price, the service provided by your […]
Professional Indemnity Insurance – Key Definitions
Professional indemnity insurance is very important for protecting your business. In short, it protects you financially when you are legally liable to your clients/customers due to an error or omission in the service or advice you professionally offer. It also covers any legal costs incurred in defending you in the event of a claim being made against you. Every business has different cover requirements and accurately assessing these can help you […]
