Professional Indemnity Insurance why do I need it?

If you are advising clients in any field you should think about purchasing a Professional Indemnity Insurance policy. In some cases such as Insurance Brokers and Solicitors the cover is compulsory and therefore must be purchased prior to trading.

There are two types of Professional indemnity insurance policies sold.

"Any One Claim" and "Aggregated" these are defined as:

If the limit is ‘any one claim’ this means that the most that the insurer will pay out per claim is the limit specified. You could have several claims in the same policy period and whilst each would be subject to the specified limit there would be no overall limit.
If the policy is on an ‘aggregate’ basis then the limit is the maximum that will paid out in the policy period irrespective of the number of claims you may have.
Limits of professional indemnity insurance differ according to each and every trade, and sometimes the difference between the lowest levels is not that much.

Cover is available for:

Professional negligence, such as making a mistake in a piece of work for a client, or giving them poor advice
Unintentional breach of confidentiality and or copyright
Loss of documents or data
Defamation and libel

Examples of companies that need this cover are:

Accountants
Bookkeepers
Solicitors
Insurance Brokers
Teachers
Trainers
Designers, Internet & Graphic
Printers
Estate Agents
Lettings Agencies
Town planners
Engineers
Independant Financial Advisors
Consellors
Health and Safety consultants
Chartered Surveyors
Construction companies
Auditors
Architects
First Aiders
Acoustic consultants
Fire & Security Consultants
Publishers
SEO Marketing Consultants
Mortgage Brokers

Source: Dave Burn who is an insurance broker

Looking for Professional indemnity Insurance? Take a visit to the jml insurance website and see the advertisement pages for Professional indemnity Insurance companies; http://www.jml-insurance.co.uk/types.php?id=45&sec=9

Insurance for Subsidence and Underpinning in Coal Mining Areas

We have found that there are a number of Coal Mining areas in the UK that have suffered from Subsidence and underpinning. These areas are not uninsurable and we can help to find you the relevant cover for Subsidence Insurance and Underpinning insurance.

As most of the works have been paid for by the National Coal Board the work on these premises tends to be very well done and insurers in some cases are happy to take on the houses.

Subsidence is caused in mining areas by land slip and land heave, this is normally dealt with by underpinning of the property.

If your mortgage company asks for a mining report it means your postcode has had some mining in the local area. Shafts may still run miles down below the ground and maybe under the properties around there.

The main areas effected are; County Durham, Nottinghamshire, Derbyshire, Kent and Lancashire, south Wales, also various parts of Scotland.

Obtaining insurance in these parts of the UK has been difficult but we now have the solution.

Source: Dave Burn who is an insurance broker

Looking for property Insurance? Take a visit to the jml insurance websites and see the advertisement pages for specialist property insurance companies;

Visit http://www.jml-property-insurance.co.uk/Property_insurance.htm or http://www.jml-insurance.co.uk/products.php?id=1

HomeLet launches Rental Price Index

HomeLet, the UK’s leading provider of tenant referencing and specialist insurance to the lettings industry, has launched its own Rental Price Index.

It is the most detailed report on the sector to date and reveals information never seen before, including tenant age, demographics and actual rental prices in each UK region.

The first report shows the average age of tenants has increased every year since 2008This is because first time buyers are staying on the rental market as they are unable to purchase their own home. Coupled with a decrease in the percentage of younger tenants who are forced to stay at home due to the turbulent economy, means the age of the average UK tenant has slowly gone up.

Read on here HomeLet launches Rental Price Index

Tourists warned that some car hire companies still charge an excess even with their top-up cover says Protectyourbubble

Tourists warned that some car hire companies still charge an excess even with their top-up cover says Protectyourbubble