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October 23, 2014
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When Should a Retail Business that Sells Products to Consumers Consider PI Insurance?

When Should a Retail Business that Sells Products to Consumers Consider PI Insurance?

A retail business is a business that sells products to consumers (excluding manufacturers, importers/exporters). In order to determine when a retail business needs to consider Professional Indemnity Insurance, it is important to firstly explain the coverage provided by other policies as these policies do not overlap or provide dual cover. We have summarized an overview of common policy feature - it is important to remember that each policy wording can vary depending on the insurer so remember to compare each policy or seek professional advice.
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The Cost of Having Professional Indemnity Insurance vs. Not Having Coverage

The Cost of Having Professional Indemnity Insurance vs. Not Having Coverage

No matter what your profession is, if you provide professional services and advice to your clients (for a fee) than there is an expectation on you to deliver accurate advice. However, in business there are times when mistakes and accidents do occur. Unfortunately, even the most careful of individuals may do something that upsets a client due to an error or negligence and that client threatens to sue when that mistake causes them a financial loss.
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Who are the Major Insurance Providers for IT Contractors & Consultants Indemnity & Liability Insurance?

Who are the Major Insurance Providers for IT Contractors & Consultants Indemnity & Liability Insurance?

A few years ago the Information Technology & Telecommunications Industry only had a few major providers that offered tailored policy coverage that cover the main industry exposures. Nowadays, there is a lot more market competition which has had a good effect on the competitiveness of cover and increased the scope of policy features provided. The policies available for the IT Industry combine Professional Indemnity cover with Public and Products Liability cover. This combined policy approach helps eliminate the traditional gaps in cover and allows specific cover for loss of data and intellectual property exposures.
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