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Professional Indemnity Insurance Explained

Professional indemnity insurance (also known as professional liability insurance) is a large, rapidly growing sector of the commercial insurance market, with many insurance companies actively fighting for market share and offering...

Solicitors Professional Indemnity Insurance

Whether you are starting a new law firm or already established, we have specialist knowledge of the professional indemnity market for Solicitors. We offer a range of specialist services helping firms obtain their cover quickly and at...

How to reduce your professional indemnity premium....

If you are a larger professional services firm and you don't buy your cover online, here are some great tips from our experts that could have a dramatic affect on the professional indemnity insurance premium you pay. Create...

Cyber crime and your professional indemnity insurance

News stories about hacking make regular press headlines around the world and the incidents are likely to get worse... The issue of hacking should be a growing concern to all professional businesses holding sensitive client data or client money....

Guide To 'Run Off' Insurance

'Run off' insurance is professional indemnity insurance which covers the historic liabilities of a business and its directors when the business ceases or is acquired. You may be considering selling or merging your firm and...

Liability successfully limited to £3,225 in £30 million fire damage claim

In this recent finding, Lord Tyre restated the reasonableness test for the applicability of limitation of liability clauses. On 10 November 2009, a fire broke out at Benkert UK Limited's industrial premises in Clackmannanshire resulting in losses of...

Design & Construct - Guide To Professional Indemnity Insurance

Contractors are increasingly taking on a design liability by employing their own in-house professionals or by assuming a liability when they sub-contract out the design element.  When undertaking contracts on a design and...

What is (and isn't) professional behaviour - our clients views...

'professional' ; having or showing the skill, good judgement and polite behaviour that is expected from a person who is trained to do a job well. We arrange professional indemnity insurance for many professionals in...

Avoiding a professional indemnity insurance claim

Today professional indemnity (PI) insurance is seen as an indispensable tool for securing new contracts and conducting business. Although professional indemnity cover is a useful safety net, there are many ways to ensure you should never have to claim...

Guide to Collateral Warranties

If your business is working in the building and construction industry, you will almost certainly have been asked to sign various agreements and warranties at some point, perhaps to win contracts.  This requires a completely different set of...

Guide to professional indemnity insurance claims - updated

The obligation to notify claims AND potential claims (circumstances) can be quite demanding. The onus is on you to ensure that all such matters are notified in line with your policy terms and conditions. It is important that the policy terms and conditions...

Estate Agents Guide To Professional Indemnity Insurance

Running a successful estate and letting agency is far from simple. When something goes wrong, there are ways you can protect your business from any mishaps that you might have by taking out professional indemnity insurance. For competitive...

Professional Negligence - Reducing The Risk

The risk of professional negligence is always there for every   professional services business. But there are steps you can take to manage your exposure - and taking out professional indemnity insurance is one such step. Here we look at the...

The Professional Indemnity Time Bomb!

Professional indemnity insurance is designed to protect you should a client make a claim against you for professional negligence. Often a loss arising from negligence isn’t immediately apparent and so the claim may be made long after the work...

What is a Retroactive Date on Professional Indemnity Insurance?

A retroactive date on professional indemnity insurance is the date the insurer has agreed to retrospectively cover a business from. Claims occurring from the policyholder’s work carried out after the retroactive date will be covered by the...

Read our guide on capping liability; If the cap fits

Clauses that cap the liabilities of a firm when they make a mistake are now common in business contracts. They are an important protection for a firm, but how well do they really work?  Our latest guide provides valuable...

Looking Ahead: Professional Indemnity Insurance

International law firm DWF has outlined and explored the impact that the recent COVID-19 pandemic has had on small businesses, legal firms, construction professionals, valuers, brokers, IFAs and accountants, including what effect it has had on claims. 

Our Outlook on the 2021 Professional Indemnity Insurance Market

The professional indemnity insurance (PII) market in the UK has changed dramatically over the last ten years. We initially saw significant rate-cutting and an oversaturated market, but the last several years have witnessed a mass exit of insurers with no...

Silent Cyber and Professional Indemnity Insurance

In the fast-growing world of technolog y, cyber-related exposures are becoming far more commonplace. Businesses now have to carefully consider what measures should be put in place to protect them in the event of risk associated with financial loss,...

Solicitors PII ; Our Market Update including Covid-19

When not in lockdown, most Solicitors and Insurance Underwriters are office-based. As such, they are unfamiliar with the challenges presented by remote working on a laptop or in a confined space that they probably share with their...

Accountants - ICAEW Warning to Members

In response to the hardening PI insurance market, the Institute of Chartered Accountants (ICAEW) has issued new guidance to member firms about professional indemnity insurance. Their comments are aimed at ICAEW members, but also apply to any...

Professional Liability - The Experts Predictions

Patrick Hill, Partner and Head of Professional Risk at international law firm DAC Beachcroft offers some fascinating predictions on the challenges that professionals and their PI insurers may face in the coming year and beyond.  This is essential...

Construction ; Premiums soar as insurance crisis deepens!

The insurance crisis in the construction sector continues to deepen.... ....as more insurers announce their withdraw from the professional indemnity market, driving up premiums even further. Architects, engineers, designers and surveyors are all...

DWF Legal Insights - Trends in claims against Solicitors 2019-20

Leading legal services group DWF have released an excellent review of the trends in professional indemnity claims against the legal profession…. Introduction There has been a reduction in volume of claims against solicitors in the last...
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