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A statement issued last week by one of the UK’s leading independent insurers brokers claims more insurers are looking to withdraw from providing Professional indemnity Insurance for firms domiciled in ...
... Response from Professional Indemnity Insurers How do these changes effect Professional Indemnity Insurance and what do policy holders need to do?  We have polled a number of insurers in the professional ...
3. Delaying "Run Off" PI Cover purchase
(Blog Articles/Broker)
I was asked last week - "I am an RICS surveyor and have virtually ceased to trade aside from just finishing a few bits and bods but insurers say I cannot put my PI into run off yet.  Won’t this involve ...
... 'unspecified' money claims. Of relevance to PI insurers and policyholders: Claims for between £10,000 and £200,000 will incur a court fee of 5% of the amount claimed, which would see, for example, a 400% ...
... presentation’ of their risk to insurers.Remedies for Non-Disclosure or Misrepresentation - Remedies must now be proportionate and reflect the actual underwriting impact, had the correct information been ...
... in respect of the cover for the activities which may be unique to their profession.  Also insurers have specific things they would look to exclude from cover except for those certain professionals ...
7. What is a Management Liability Policy
(Blog Articles/PI News Related)
As independent Brokers we don't have a Management Liability (ML) Policy wording of our own, but we do have access to a wide selection of leading insurers in this market.  Generally a (ML) has three ...
... Professional Indemnity Consultants Director, David Hedgecock said " This follows in the wake of several insurers thought 2013-14 who are looking to rationalise their book of Pi business following what ...
Insurers like such clauses because they seek to limit the liability individuals or firms carry when working with other professionals on construction contacts.   If there is a defect in a construction ...
10. RICS release 2014 Approved Insurer List
(Blog Articles/PI News Related)
Another year begins with the RICS issuing their 2014 list of approved insurers for Professional Indemnity Insurance.RICS members are required to hold a minimum level of Professional Indemnity Insurance ...
11. European PI market worth £6.2bn
(Blog Articles/PI News Related)
... into several European markets including France, Spain and particularly Ireland for some years now.  We are able to trade in both Sterling and/or Euro’s and we have a string of Insurers keen to quote ...
... insurers may waive this requirement but the HMRC will still be expecting the VAT be paid.  ...
... Form (EL1) or (PL1). Receiving a letter requesting your public liability or employers liability insurers’ contact details could also indicate that a claim is likely to follow. Due to the speeded up ...
14. PI for AGRA members
(Blog Articles/PI News Related)
... conjunction with the AGRA. Is our cover good value? Unlike other professions such as RICS Surveyors and Chartered Accountants there is no requirement for insurers to offer minimum standard of covers ...
15. AVIVA depart the Professional Indemnity market
(Blog Articles/PI News Related)
...  As PI specialists we have a very comprehensive list of insurers to choose from.  With 98% of our total business written being Professional Indemnity we don't have an issue with finding an alternative ...
16. Small Architects
(site sections/Sectors Covered)
... mind. The policy meets the demands and needs for Professional Indemnity insurance as outlined within the attached declarations. Insurers: Manchester Underwriting Management Limit of indemnity:  ...
17. Hammond Legal Support
(site sections/Resources)
Fenchurch Law Fenchurch Law specialise in acting for policyholders in situations where an insurers has refused to provide cover. Working within the background of the London insurance market enables ...
18. Actuaries
(site sections/Sectors Covered)
... without being authorised by the Financial Conduct Authority (FCA) if they apply for a DPB license from the Institute and Faculty of Actuaries and meet certain conditions. Top What do insurers ...
19. Monthly Professional Indemnity Insurance policies
(Blog Articles/PI News Related)
... in place can be a hassle-free way of covering yourself against negligence claims where future renewals take care of themselves. Insurers can provide professionals with a policy that takes out the hassle ...
20. IFA policy exclusions
(Blog Articles/PI News Related)
The investment failures associated with Arc Cru investment funds and the collapse of investment firm Keydata has brought about a tightening of Professional Indemnity policy wordings by insurers providing ...
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