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Archive for 2013

No Immunity for Expert Witnesses

Wednesday, October 2nd, 2013

Expert Witnesses have traditionally enjoyed immunity when giving evidence in court and at every other stage in the process, such as report writing and answering questions.

However in Jones Vs Kaney , a case heard in the UK’s Supreme Court in 2011 this immunity was removed.

This now means that an Expert Witness is no longer immune from a civil action for professional negligence and breach of contract.

Experts need to make sure that they are acting reasonably and professionally within the terms of their instruction and that they have taken out the appropriate level of professional indemnity insurance.

Hensure Business Insurance has a product specifically tailored for an Expert Witness so contact us today to arrange your Professional Indemnity cover.

The Professional Indemnity Market

Friday, August 23rd, 2013

Over the past 20 years the Professional Indemnity Insurance Market has grown rapidly and is now worth an estimated £ 5.81 bn across the European Insurance Market alone.

The reason for the growth can be attributed to the following:

  • Statutory Regulation making P I cover compulsory for professionals such as Solicitors ,Accountants and Architects.
  • A more litigious society with a growing blame culture meaning that emerging professions are seeking the peace of mind that can be provided by a P I policy.

The Professional Indemnity Insurance Market is very competitive with premiums starting from as little as £ 100 for low limits of indemnity of £50,000 or £ 100,000.

Sterling Insurance Group are now offering Professional Indemnity Insurance

Wednesday, August 21st, 2013

Sterling Insurance Group, One of our Preferred Underwriters, have extended their underwriting appetite recently  and will now write Professional Indemnity Insurance. Hensure Business Insurance can now add Sterling to our large panel of existing insurers who are keen to write Professional Indemnity Risks. We are therefore more confident than ever that we can find the right deal for our clients in terms of policy cover at the right premium.

Professional Indemnity Insurance for Contractors Involved in the IT Industry

Wednesday, July 17th, 2013

The IT industry employs over two million people but as there are no regulatory guidelines or statutory framework  and no compulsory code of conduct for IT professionals, experience has shown that this increases the likelihood of these companies being sued for professional negligence. IT consultants get involved with the design, sale & maintenance of software which can legally be seen as product supply ( rather than professional advice). Also , any involvement with hardware specifications or design would also be seen as a product risk. Furthermore, the service provided by the consultant is normally set out in contract. Traditional Professional Indemnity wordings would look to exclude Contractual liability so it is therefore essential that an I T Contractor is placed on a specialist wording where the specialist nature of the work is taken in to account. Hensure Business Insurance has access to a number of markets who can offer a bespoke professional indemnity wording specifically designed for IT professionals.

Zurich retains Chartered Insurer Status.

Thursday, June 20th, 2013

Zurich has achieved Chartered Insurer Status for the second year running which was first achieved in 2002 and is the only UK based composite insurer in possession of the title.

Hiscox have launched new Professional Indemnity Wordings.

Friday, May 24th, 2013

Hiscox have recently enhances their professional indemnity wordings for professional involved in Coaching, training and education.

By offering this specialist product with Hiscox, we are able to provide customers something with excellent policy wordings at competitive premiums.

Aviva Pulls out of the SME Professional Indemnity Arena

Thursday, March 28th, 2013

Aviva Insurance has announced that it will stop writing professional indemnity (PI) business for small to medium-sized enterprises (SMEs) from 1 April 2013.

This will affect around £ 35 m of insurance premium

The decision has been taken as Aviva has been struggling to make a profit in this area and despite trying to take corrective action, the current market conditions have been against them.

The existing book of SME Professional Indemnity business will be placed into run-off, handled by Aviva’s financial lines claims team based in London.

Should your existing policy be with Aviva then why not try the Hensure Business Insurance Professional Indemnity Scheme at renewal? We are a long established player in the Professional Indemnity Market and continue to make good returns for our capacity providers Argo at Lloyds of London.

R K Henshall & Co Ltd have joined The Brokerbility Group

Wednesday, February 20th, 2013

R K Henshall & Co Ltd , the holding company behind Hensure Business Insurance, is pleased to confirm that they have now joined The Brokerbility Group.

Brokerbility is now represented by 34 offices throughout the UK , employing more than 1000 people and a Gross Written Premium of circa   £ 465 million.

R K Henshall & Co Ltd commenced trading in 1976 and since then have developed a reputation as one of the leading independent Insurance Brokers that offers clients access to a wide range of general insurers and to Lloyds of London.

John Henshall, Managing Director of R K Henshall and Co Ltd comments, “This is a great opportunity for R K Henshall and Co Ltd to push forward. The Brokerbility Group is a highly respected organisation within the Insurance Industry and we are looking forward to working with them and growing with them”

Ian Stutz, Managing Director of Brokerbility comments’ We are delighted to have R K Henshall and Co within the group, they represent a strong addition in the North West Region and we look forward to workng with them’.

Professional Indemnity claims against Accountants

Tuesday, February 5th, 2013

Professional Indemnity claims against Accountants can occur for a number of reasons.

One particular claim arose against an accountant who failed to lodge tax returns on behalf of their client, leading to penalty charges and interest charges being charged by the Tax authorities.

The Accountant’s client sought to recover the charges from the Accountant due to his error in not lodging the returns on time.

Hiscox focuses on Green Issues with new Professional Indemnity Products

Tuesday, January 29th, 2013

Hiscox has developed five broker only professional indemnity products in the areas of interior and/or garden design, coaching and education, green consultancy, training, facilities management and health and safety and will be available from early July.

At no additional cost,  policy wordings will be enhanced to recognise the broader impact a claim could have on a business.

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