Professional Indemnity Insurance | Advice and Info
The following article aims to cover risk assessment and management around Professional Indemnity Insurance.
Comprehensive professional indemnity insurance will cover you if you’re sued because of error, data loss, intellectual property infringement or dishonesty. There are a few things that you can do to help keep your indemnity risk to a minimum:
Avoiding copyright issues
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What is Efficacy insurance cover? Does the manufacturer not cover that?
Efficacy Insurance is designed to cover the failure of an item to perform its intended function.
It is commonly required by businesses involved in the manufacture, service, supply or installation of performance critical products ...
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What is Engineering Insurance?
Engineering Insurance is an insurance policy that covers a wide range of engineering related risks. It is a comprehensive insurance that provides complete protection against risks associated with erection, resting and working of any machinery, plant or equipment. In additio...
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Why Directors and Officers need Insurance
People appointed as Directors or Officers of a company hold positions of trust and must act accordingly. They will be liable for any act which is negligent, outside their authority, or in breach of duty or trust. Their responsibilities are onerous.
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Contractors All Risks Insurance (also known as Contract Works or CAR insurance) is insurance designed for builders or contractors working on construction projects including buildings in the course of Construction, Alteration or Refurbishment.
Contractors All Risks insurance can be a once-off or an annual policy dependin...
If you offer your knowledge, skills or advice as part of your profession – either as a self-employed individual or for a company – you should consider taking out Professional Indemnity insurance.
Some professions are required to have Professional Indemnity insurance by their professional bodies or regulators – these include:
Accounting & bookkeeping
It is almost impossible nowadays to operate a business without computers and the use of continually changing technology which frames every modern company’s digital infrastructure. Connectivity is a key word in providing a smooth flow of any business but there is an ever increasing risk of a virus contaminating your system or someone else’s, or a hacker attacking your computers and st...
Read More Here On Professional Liability Insurance With S.A Faughnan
Professional liability insurance is often an after-thought for construction projects. Arranging cover for employers and public liability insurance including cover for the actual site works would be a priority for the contractors and site owners with cover for professional liability not being considered until the process of insur...
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What is professional indemnity insurance?
The professional indemnity insurance policy is a legal liability insurance product protecting you against claims made against you in respect of your legal liability for loss arising from a breach of professional duty arising during the course of your business.
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Contractors with a design liability
In recent years it has become commonplace for contractors to incur a design liability, either by offering a design service as part of an overall building package or through a design and build contract where the design work is sub-contracted.
When you undertake co...