Medical MalPractice insurance has become an area where protection has become very important to the various growing professions.
Apart from the obvious areas such as doctors, nurses, dentists etc, there are many classes that are less well known, for example - nutritionists, complementary therapists, paramedics, first aiders, acupuncturists, masseurs and reflexologists and who all will need Professional Indemnity insurance / Medical Indemnity type insurance policies to protect them against possible legal claims, law suits and damages awarded to them in the event of their neglect when treating a client, which most Professional Indemnity or Medical Indemnity would respond to. The demand because of the new professions has never been higher.
Wednesday, 5 October 2011
Wednesday, 28 September 2011
World Leaders on the Future of Libyan Contracts
There has been a lot of talk about what will happen after the full liberation of Libya and the re-structure of the country, and who will be awarded contracts clearly with building, engineers and water structures, airport and oil refinery's will be key to getting a full working solution for Libya. this will need skills from both inside and outside Libya from professions such as architects engineers surveyors, specialist management consultants and project managers.
They will all need to carefully consider any contractual agreements, including issue in respect to contractual liability, Professional Indemnity Insurance and Public Liability along with Legal Protection and under most Jurisdiction they would be expecting these contractors to work under with such a young Libyan Government Council in place and Gaddafi still at large, it makes it very difficult for the re-structuring and awarding of contracts for these professions that may well have some worldwide cover for Professional Indemnity, and general Liability. But may well have a problem with their insurance companies extending cover to a country still at war.
They will all need to carefully consider any contractual agreements, including issue in respect to contractual liability, Professional Indemnity Insurance and Public Liability along with Legal Protection and under most Jurisdiction they would be expecting these contractors to work under with such a young Libyan Government Council in place and Gaddafi still at large, it makes it very difficult for the re-structuring and awarding of contracts for these professions that may well have some worldwide cover for Professional Indemnity, and general Liability. But may well have a problem with their insurance companies extending cover to a country still at war.
Thursday, 22 September 2011
Regional Brokers and Commercial Line Insurance
It seems that the middle ground where Insurance broking is concerned is very much alive. Despite national brokers trying to purchase the bigger regional broker, with multiples so low, is it not worth selling out, not only that the regional brokers are pound for pound stronger that most national brokers.
If the main can also offer personal service to commercial clients that the bigger broker groups, there clients can also rely on staff being more continuous.
As nationals are either making staff redundant or many are leaving after being taken over. So both in commercial and retail insurance business regional brokers are leading the way and without the massive debt burden that the national brokers are carrying. Certainly on product ranges such as financial times I.e Directors and Officers Insurance, Professional Indemnity Insurance, Prospectors covers, Charities and Trustees Insurances, Financial raps etc and supplementary insurances such as office insurances and public liability can also be offered via the regional brokers and at very competitive costs.
If the main can also offer personal service to commercial clients that the bigger broker groups, there clients can also rely on staff being more continuous.
As nationals are either making staff redundant or many are leaving after being taken over. So both in commercial and retail insurance business regional brokers are leading the way and without the massive debt burden that the national brokers are carrying. Certainly on product ranges such as financial times I.e Directors and Officers Insurance, Professional Indemnity Insurance, Prospectors covers, Charities and Trustees Insurances, Financial raps etc and supplementary insurances such as office insurances and public liability can also be offered via the regional brokers and at very competitive costs.
Wednesday, 21 September 2011
Coming to the end of Solicitors Season for PII
We are nearing the end of the Professional Indemnity Insurance season for solicitors, and insurers will be shortly publishing winner and loser in this years lottery.
There is of course a very strong argument to stop this ridiculous way of trading with one super date for all, and allow variations. There are of course two sides of the story, but on balance the system is old tired and should be completely re-vamped.
Their should also be new covers and indeed reduced covers within the Professional Indemnity Insurance Policies to allow underwriters and insurers more flexibility and to do away with the assigned risk period.
The law society need to consider their own qualifying rules for those insurers willing to offer PII to solicitors and again to consider flexibility which will allow costs covers and innovation to develop. With Professional Indemnity markets which we have seen become smaller every year (at least with good rated insurers.)
There is of course a very strong argument to stop this ridiculous way of trading with one super date for all, and allow variations. There are of course two sides of the story, but on balance the system is old tired and should be completely re-vamped.
Their should also be new covers and indeed reduced covers within the Professional Indemnity Insurance Policies to allow underwriters and insurers more flexibility and to do away with the assigned risk period.
The law society need to consider their own qualifying rules for those insurers willing to offer PII to solicitors and again to consider flexibility which will allow costs covers and innovation to develop. With Professional Indemnity markets which we have seen become smaller every year (at least with good rated insurers.)
Tuesday, 20 September 2011
Online Insurance Trading for SME'S
Online trading for SMES is becoming more common with 1/3rs of those companies choosing to purchase their insurance online, now do so out of office hours.
With progression of technology going at a frightening pace with 'smart' phones each in their own classes, with different platforms and models, just getting a website to fit and work on them is a bit of a mission, business apps are also becoming very important for those directors and officers of a company on the move.
To write the computer code to fit all these phones and link in with the Quote & Buy websites, and collect money for the insurance policies is no small task. There are a group of SME Insurance covers that are now very much available from both smart mobile phones and websites where policy documents can be sent directly to the clients computer confirming covers, and issuing full policy details.
The type of policies currently available on mobile phones are Professional Indemnity insurance.
Public Liability with regards to Quote & Buy at low cost insurance policies via websites, you can obtain such covers for office, commercial combined, charities and trustees/Directors and Officer, landlord, Professional Indemnity, Public Liabilities and many more covers are now becoming available even Cargo Insurance and night club, restaurant cover is being conducted 'online'.
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