Friday 28 January 2011

Medical Malpractice Insurance

There is a growing demand for Professional Indemnity with well over 180 different professions now using and applying for this type of insurance policy.
There is also a demand for Medical Malpractice Insurance and very often the two policies can crossover a professionals requirements. This is particularly relevant when a profession drops in between the requirement for Professional Indemnity Insurance and a medical malpractice occupation. For example a 'life coach' may well consider just Professional Indemnity Insurance as the correct policy to obtain, however, if part of the life coaching involves therapy or say yoga training, you may well then be into needing a Medical Malpractice type wording. A standard Profesional Indemnity Insurance policy may well exclude bodily injury, property damage claims.

Quotations for Medical Malpractice Insurance
Quotations for Professional Indemnity Insurance

Friday 21 January 2011

Business Interruption Insurance

If a customer came to me for advice on their insurance I would recommend Business Interruption cover as one of the covers they should buy so in the event of a loss their profit or revenue would be protected until the business was fully operational.
Any immediate costs to ensure the business was able to continue operating possibly at another location could also be covered by the Business Interruption insurance

Many of the extensions offered under Business Interruption insurers are of great benefit such as denial of access, loss of utilities, loss of attraction among others

5 reasons to purchase Business Interruption insurance:
  1. Protecting your profit or revenue
  2. Covering costs of relocating until your premises can be reoccupied
  3. Covering book debts
  4. Protecting any specialist equipment
  5. Continuity of your business from your clients perspective
There is going to be a push from the government soon to encourage businesses to take up business continuity insurance, particularly SMEs, and to make it quicker and easier for businesses to cover themselves against business interruption.

If you need any advice or have any questions regarding business interruption insurance then contact Professional Insurance Agents, where a professional broker will be happy to help.