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Professional risks insurance
The law imposes a high level of expectation upon anyone who
holds themselves out as being a professional in their field.
Members of the public who seek advice or services from a
professional are entitled to expect the opinions offered or the
level of service given to be of a high standard.
In the event that the professional does not achieve those
standards then the law supports the injured party in seeking
redress. Such liability is protected by means of a Professional
Indemnity policy in the name of the professional. Historically
such policies were held by the conventional professionals:-
- Solicitors
- Engineers
- Surveyors
- Accountants
- Insurance brokers
- Architects
In more recent times the emerging professions have found it
necessary to carry equivalent cover. Professions such as:
- Advertising agents
- Health & Safety advisers
- Spiritual healers
- Computer games designers
…and many more are now exposed to such risks and need to buy
appropriate protection. Equally the law has moved towards increased
responsibility resting on those who administer companies. The
ability to hide behind a limited liability corporate shell has
diminished substantially and the responsibilities rest firmly on
the individuals themselves as well as the company. Personal assets
are at risk and liability is not limited in amount. Such risks are
protected by a Directors and Officers Liability policy. Actions
can be brought against anyone acting as an Officer of the Company
and such term is not specifically defined so it could be anyone. It
could be the Chief Executive for the way in which the Company has
been run or it could be the Maintenance Man who assumes a Health
and Safety role.
Towergate Milton Keynes is ideally qualified to advise and place
cover against these eventualities. The Group includes both
insurance broking arms and specialist underwriting agencies.
The growth of the World Wide Web has seen on line business
increase dramatically in recent years and with it has come the
evolution of “cyber risks”. Policies have been
developed to provide protection against the risks attached to these
new ventures. Often the risks are conventional but require adaption
for these additional exposures.
For more information contact us, our staff are available to take your
call on 01908 258 388.
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an enquiry