Tag Archives: Professional indemnity
Legal News – Three Items of Interest for the Construction Community
Phoenixing: Construction bosses who 'phoenix' firms could now face fines or bans Construction is one of the UK industries that suffers the most from ‘phoenixing’ – folding a firm to avoid debts, then starting up a near identical business with a new name. Now directors who do this could face hefty fines or being banned…
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The financial implications of operating without Professional Indemnity Insurance
The financial implications of operating without Professional Indemnity Insurance Operating without professional indemnity insurance leaves your business open to claims and, in turn, huge financial risk. The costs of a claim can quickly reach hundreds of thousands and even millions. Most insurers offer policies which provide cover from an indemnity limit of £50,000 as standard.…
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7 top tips on Professional Indemnity Insurance
Deciding how much professional indemnity cover you need This is a common issue. Ultimately, it depends on your business, your clients and your potential liability. Your professional indemnity insurance needs to be able to cover the total rectification costs of your negligence and the legal costs of a claim against you. Some professional bodies will…
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A changing Professional Indemnity market needn’t mean problems
Many contractors are now asking their subcontractors to have Professional Indemnity insurance in place to secure contracts. But what is it and what do you need to consider? Professional Indemnity (PI) insurance provides: 1. Source cover from a reliable, long-term insurer – with the PI market open to transitioning from a soft market…
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Why Professional Indemnity Insurance Is Essential
What if you provide advice and consultancy and there’s a mistake in the advice you’ve given? What if you provide an expert service and there’s a mistake in designs, plans or calculations? What if you handle people’s information and you face claims that you accidentally disclosed data or infringed on a client’s legal rights? If…
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Commercial Insurance Awards 2019 Finalist
Congratulations to the whole team at Ascend Broking Group for our recent achievements in the Commercial Insurance sector. We are shortlisted for SIX awards at the annual Commercial Insurance Awards 2019 hosted by CIR Magazine. Categories: Broker of the Year Categories: Regional Broker of the Year Categories: Growth Business of the Year Categories: Initiative of the Year Categories: Claims Team of the Year Categories: Social…
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Ascend 24/7 – Our revolutionary client app video
Access your policy documents 24/7 Changing the way you manage your insurance programme We like to do things a bit differently at Ascend and are delighted to advise of the launch of Ascend 24/7 an online client portal and app that allows all our customers to access our back office system. Whether you are looking to change…
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Directors & Officers Insurance – do you know you could lose your ENTIRE wealth?
Many people mistakenly believe that as a director of a limited company, they have no personal liability in regard to their corporate actions and that is not limited just to directors, proceedings can be issued against people in almost any managerial or supervisory position. Could that be you? The truth is that while most corporate…
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Professional Indemnity Insurance
Professional Indemnity (PI) is an essential insurance cover that will protect you against negligence claims from unhappy customers. If you are starting out in business or are an established business providing professional advice for a fee then chances are you will be obliged to take out some kind of business insurance as a condition of…
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Plant Insurance – (the bit that dropped off)
It seems that most Contractors (and their brokers) are quite unaware that the cover they buy for Plant and Hired-in Plant is far from the best. Perhaps 99% of Contractors have their Plant and Hired-in Plant insured under a standard Contractors All Risks policy and if you are one of them just ask yourself, does…
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