Professional Liability Insurance
If you are alleged to have provided inadequate services, advice or designs which have caused your client to suffer a loss, you can enjoy complete protection through Professional Indemnity, covering legal costs and expenses incurred in your defence. It will also pay out any costs which have been awarded as losses. Professionals are generally claimed against in terms of alleged professional negligence and/or deceptive or misleading conduct and advice.
Your professional risk will be well managed in terms of the following aspects of cover:
- Legal fees incurred in the defence and mitigation of a professional indemnity claim
- Any compensation payable by the insured to dispose of a professional indemnity claim
Awarded damages can be substantial in terms of financial loss, bodily injuries or property damages or losses because of advice supplied by the professional and/or their respective services.
Typical professions to consider Professional Indemnity Cover (but not limited to) are:
- Business and management consultants in marketing, training and education areas
- IT Professionals including developers, programmers, consultants, IT Contractors
- Recruitment consultants and agencies
- Web, graphic and interior designers
- Fitness professionals including yoga instructors, personal trainers, dance teachers
- Teachers and tutors including private tutors
Rensure Newcastle’s Authorised Representatives have access to an array of suitable insurers and products to enable you to mitigate your risk by providing uniquely tailored advice focussing on a range of products to suit your risk profile and exposure.
DIRECTORS & OFFICERS LIABILITY
Directors and Officers Liability targets a range of risks in terms of compensation claims laid against your company’s directors and officers in terms of the following:
- Breach of trust
- Breach of duty
- Misleading statements
- Wrongful trading
We can tailor a solution specific to your company’s needs, through our leading insurers. Reach out to our Authorised Representatives to initiate a conversation resulting in peace of mind and a tailored solution.
Directors and officers of an organisation or business may be held personally liable in terms of their involvement with the business entity or organisation. This affords them trusted protection against claims brought against them by the following:
- Shareholders (due to neglect or misleading statements)
- Employees (in terms of wrongful dismissal or harassment)
- Competitors (allegations of anti-competitive trading)
- Statutory bodies (alleged breaches of fiduciary duties)
- Organisation (actions brought in by a liquidator in the event of alleged insolvent trading by the organisation)
If you sit on a board or if your business is incorporated, including private corporations, incorporated associations, public corporations and co-operatives, you would do well to consider mitigating your risk by utilising this type of risk solution. Not only would it cover the cost of defending these proceedings, but it will also provide for compensation costs arising from unsuccessful defence.
Medical Malpractice protection provides risk mitigation to professionals as well as establishments in the fields of medical and allied health fields, arising from bodily injury or property damage caused by acts, errors or omissions in providing health care service, as well as claims in respect of financial loss.