Sentences with phrase «professional indemnity»
"Professional indemnity" refers to a type of insurance that protects professionals from claims made by clients who have suffered financial losses due to their professional advice or services. It covers legal costs and damages if the professional is found liable for negligence, errors, or mistakes in their work. Full definition
The mandatory program of professional indemnity insurance coverage from LawPRO applies to the delivery of professional services to clients regardless of how much those clients pay for the services.
practicepro.ca
Lisa also advises a range of professional indemnity insurers on defending claims and policy coverage.
More than one in eight of these firms linked their difficulties to insurers withdrawing from the market or «going bust», according to the Law Society's annual survey of solicitors» experiences of professional indemnity insurance (PII) published last week.
He was a lawyer with a background in professional indemnity insurance and 12 years of experience as a senior insurance company executive.
Rebecca also advises on a range of insurance issues and has significant experience in policy wording reviews and drafting of professional indemnity policies for most practice areas, and also crime, liability and D&O policies.
Twenty years ago, an investigative task force appointed by the Law Society of Upper Canada made a sobering discovery: the fund established to pay for professional indemnity claims against Ontario lawyers was underfunded by over $ 200 million dollars.
When any professional practice comes to an end, it is essential that it continues to benefit from professional indemnity cover for claims which may be made after the practice has ceased trading, in respect of work carried out previously.
This firm maintains professional indemnity insurance in accordance with the Rules of the Solicitors Regulation Authority.
The availability and terms of professional indemnity coverage for pro bono services vary depending on whether a lawyer is insured by LawPRO or not (i.e., whether he or she is in private practice or is exempt), on the context in which those services are provided (through Pro Bono Ontario or not), and finally, on the nature of those services (whether or not they fall within the LawPRO definition of professional services).
The details of our compulsory professional indemnity insurer as required by the SRA in England & Wales is QBE Insurance (Europe) Limited, Plantation Place, 30 Fenchurch Street, London, EC3M 3BD.
They also represent a major negligence risk, with the knock - on effect on professional indemnity insurance and ultimately cash flow and financial viability.
They also carry professional indemnity insurance with the Bar Mutual Insurance Fund.
If an internal investigation has been commenced by the employer, for example, as a result of concerns over its own conduct and liability, other insurance policies, such as professional indemnity insurance, might be engaged.
The Solicitors Regulation Authority is due to decide at its board meeting next month whether or not to ban unrated insurers from the legal professional indemnity market.
It launched a consultation last week proposing that CILEx - regulated law firms be required to publish information on price, including the charging model, such as fixed fee, and any additional costs; service, including a description of the work included in the price, and how long it will take; consumer redress options; and how the firm is regulated, including professional indemnity cover and availability of CILEx Regulation's compensation arrangements.
Catrin Davies specialises in professional indemnity work.
The Law Society of Upper Canada's mandatory professional indemnity program, underwritten by LAWPRO, is the largest of its kind in Canada.
a strong construction professional indemnity team that is noted for its «excellent industry knowledge» and for its ability to «grasp the wider picture».
We have teams of professional indemnity lawyers in London, Leeds, Bristol and Dublin who specialise in representing accountants, actuaries, trustees, insolvency practitioners, other financial and consultancy professionals and their insurers in professional negligence claims, regulatory investigations and all court or regulatory proceedings.
The High Court's decision in Euro Pools plc (in administration) v Royal and Sun Alliance Insurance plc [2018] EWHC 46 (Comm), contains an interesting analysis of notifications of circumstances under professional indemnity policies.
The annual scramble to renew professional indemnity insurance is underway, with firms racing to meet the 1 October deadline.
James has spent much of his career acting in professional indemnity matters for clients providing professional services, in particular accountancy firms, for financial institutions, and for corporates in general commercial disputes.
As recommended by the Task Force, LAWPRO takes a principled approach to defining the appropriate scope of coverage for the mandatory professional indemnity policy.
Lasairfhíona has extensive experience in professional indemnity litigation and commercial litigation.
People can put off getting professional indemnity insurance especially whilst starting -LSB-...]
He is experienced in handling professional indemnity claims on behalf of a wide range of professionals.
We have significant specialist expertise in handling construction professional indemnity claims.
Information provided by Lockton, a specialist professional indemnity broker to the legal profession, suggests that larger firms (typically eight - partner plus and probably # 8m of fees) in the last round of renewals paid premiums of 1.1 % of fees and smaller firms (typically # 1.8 m of fees) paid premiums of 2.3 % of fees.
In 2002, PBO entered into a different kind of partnership, this time with LawPRO, which provides the program of primary professional indemnity insurance mandated by the Law Society of Upper Canada.
With an increase in financial awareness and easy availability of professional indemnity plans, there has been a substantial increase in the number of professionals opting for such plans.
The soft market conditions that have characterized the UK professional indemnity insurance market in recent years may finally be coming to an end.
Insurance partner Naomi Vary, who has a focus on political risk, terrorism insurance and trade credit, will join RPC alongside professional indemnity partner Karen Morrish.
In - house corporate counsel who are employed by corporations are typically exempt from payment of LAWPRO professional indemnity insurance premiums.
A-rated insurer AmTrust Europe has entered the legal professional indemnity (PI) market, targeting law firms with between four to 10 partners.
Russell Newell, head of professional indemnity at AmTrust, said: «This is the first time we have provided PI cover to this segment of the market, and the Howden Windsor team's long relationship with the solicitors» sector and depth of expertise in PI matches our requirements extremely well.»
Esther has acted for large London insurers, handling complex and high - value professional indemnity claims as well as representing businesses, individuals, charities and landed estates.
Sharon has also recently advised in a number of professional indemnity disputes involving structural engineers and architects.
The insurance sector is at the heart of much of our work and we have an established track record as professional indemnity specialists.
The reduced availability of insurance and increased premiums suddenly left many small firms out in the cold, unable to obtain the required annual professional indemnity insurance of # 3 million.
Business insurance can take a number of different forms, such as the various kinds of professional liability insurance, also called professional indemnity (PI), which are discussed below under that name; and the business owner's policy (BOP), which packages into one policy many of the kinds of coverage that a business owner needs, in a way analogous to how homeowners» insurance packages the coverages that a homeowner needs.
At Hay & Kilner, Ros Sparrow is the key name for professional indemnity mandates, and regularly advises a client base encompassing individuals, insurers, insured parties and brokers.