PROFESSIONAL INDEMNITY
INSURANCE

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PROFESSIONAL INDEMNITY INSURANCE

Because misteaks happen evry day…

The human factor and the likelihood of any given service provider making a mistake, are factors which, without the necessary provision, may very well end up costing dearly. And “because misteaks happen evry day”, and before it’s too late, make sure you get this cover for possible professional negligence or oversight in your business, with the personalised Professional Indemnity Insurance that Insurancelink offers to cover you against third party claims. The policy is underwritten by various insurance companies with which Insurancelink collaborates.

Who needs Professional Indemnity Insurance?

Any company or individual providing services should consider the need for Professional Indemnity Insurance. Professional Indemnity Insurance provides critical protection against serious third party claims, arising from mistakes made by the service provider. Put simply, without the right insurance protection, companies are at risk of financial disaster or even closure.

In today’s fast-paced and dynamic business environment any service provider can make mistakes. With the economy becoming increasingly reliant on service providers these mistakes will often lead to dissatisfied customers who will look to the service provider for compensation. Claims against the service provider will also often involve long and costly legal expenses which Professional Liability Insurance covers.

Who does Professional Indemnity Insurance apply to:

With long-standing experience in the field, and in collaboration with leading insurance companies, Insurancelink provides insurance solutions covering the needs of Professional Indemnity insurance of a wide spectrum of professional service providers:

Accountants Doctors Outsourcing Companies
Auditors Franchisors Photographers
Architects Funeral Directors Physiotherapists
Advertising Consultants Graphic Designers Public Relations Advisers
Agricultural Consultants Health Spas Publishers
Arbitrators & Mediators Immigration Consultants Property Managers
Associations Insurance Brokers Printers
Auctioneers Insurance Agents Psychologists
Acupuncturists Insolvency Practitioners Radio Broadcasters
Barristers Internet Service Providers Recruitment Consultants
Bookkeepers IT Consultants Risk Management Advisers
Call Centres Lawyers  Surveyors
Computer Programmers Life Coaches Technology Companies
Counselors/Social Workers Loss Adjusters Telecommunications
Credit Bureaus Management Consultants Television Provider Broadcasters
Data Processors Market Researchers Training Consultants
Education Institutions Marketing Consultants Translators
Engineers Notaries Veterinarians
Event Managers  Expert Witnesses Web Designers
Alternative Medicine Therapists    

EXAMPLES

Lawyers
-Failure to lodge litigation proceedings within the required deadline.
-Drafting mistake in a lease agreement.
-Not carrying out the relevant checks in a property transaction.

Insurance Brokers/Agents
-Insurance cover not placed in time resulting in a claim not being covered.
-Insurance cover is inadequate for the risk.
-Wrong advice in reducing limits on Property Insurance.

Real Estate agents
-Property sold below market value causing loss to the owner.
-Agent unknowingly provided misleading information in a property purchase.

Architects
-An architect specified incorrect materials in a design and the building was not approved by the council.
-An architect hastily signed a completion certificate on a new apartment block and numerous problems were found.

Recruitment Agent
-A recruitment agent failed to adequately check the work history of a candidate, and the individual stole from a client.

Management Consultant
-A management consultant provided incorrect advice on how to re-structure a large financial company. This lead to increased costs, resignations and a large financial loss to the company.

Teaching Organisation
-A school failed to provide the correct health and safety services on a sports day and a third party suffered from an injury.

Counsellor / Psychologist
-A social worker failed to pick up key symptoms in a patient and failed to refer to correct medical help, resulting in a suicide and a damages claim from the patient’s family.

Accountants/ Auditors
-Missed a critical deadline in filing tax returns.
-Poor advice in respect of a merger between two companies.
-Failure to recognise fraudulent activity in a company audit.

IT Consultants
-A software/hardware system does not meet client expectations.
-Failure of a software platform resulting in the clients’ system going down.
-Transmission of a computer virus whilst installing software on a client’s network.

Media
-Alleged defamatory comments in a newspaper article.
-A TV company breached Intellectual Property rights in broadcasting a show without recognising the author.

Printer
-A printer had to re-print thousands of brochures due to an error in the design.

Engineer
-A structural engineer got the design of a commercial building wrong resulting in a roof collapsing.
-An engineer incorrectly designed the ventilation system in a library that required significant remedial work.

Travel Agent
-A travel agent made errors in booking a schedule for a business conference trip resulting in significant costs to rectify.

Wedding Planner
-A wedding planner failed to arrange florist, photography and catering services for a large wedding overseas. The wedding had to be rescheduled at a significant cost.

Call Centre
-A call centre team misinformed the insurance cover available on credit cards sold by a bank. They faced claims by both the Bank and customers.

Clarification
The information above may vary from Insurance Company to Insurance Company. Depending on the Insurance plan we will propose, we will give you all the relevant information required by the legislation so you can make your decision. Ask us today for an offer and, we will choose the most suitable package for your needs and budget.

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