ACCA is introducing new professional indemnity insurance (PII) regulations in September 2023. The new PII regulations are the first in a series of planned modernisation and improvements to the Global Practising Regulations and the ACCA Rulebook. The new PII requirements are effective from 1 ...
professional indemnityconstructionsurveyorsarchitectsengineersdesign & construct risksasbestos inspectorshome inspectorsclaims madeInsurance policies for professionals have been broadened substantially over recent years. But who is actually benefiting? The author considers the drivers to whether the wider cover is ...
All Markel Direct professional indemnity insurance policies are on a 'claims made' basis. This contrasts with a 'claims occurring' policy which provides cover for claims which occur during the period of insurance. Professional indemnity policies are rarely, if ever, written on this basis...
Professional indemnity insurance policies typically have limits of liability, which represent the maximum amount the insurer will pay for a claim. These limits can vary depending on the nature of the professional services and the specific needs of the business. Professionals should carefully assess the...
Do You Need Professional Indemnity Insurance? Not every business needs professional indemnity coverage, as it is not one of those policies required by law. Who needs this policy, then? The list includes businesses and individuals that offer expert services, advice, or knowledge to their clients, ...
Remember that these policies do not cover your past work. For further insights, visit Lockton’s Accountants page. Lockton is ACCA’s recommended broker for professional indemnity insurance. Further resources Read ACCA's guidance factsheet on professional indemnity insura...
Professional indemnity insurance policies have a limit of liability and this should be checked to ensure that it is sufficient.A further point to note is that it is worth considering taking out retroactive cover for work that has already been completed before the policy commences. As problem...
Who needs professional indemnity insurance? If you provide advice, consultancy or a service to clients or customers, professional indemnity is a critical consideration. The term 'professional' doesn't just refer to white collar occupations such as doctors, lawyers or accountants, it applies to anybod...
Most vets will have the exact details of all the insurance policies they need ingrained as an absolutely essential requirement. It never hurts to be reminded of some hard and fast insurance rules though. Here, the RCVS does exactly that. VETERINARY SURGEONS AND RVNs are required by their resp...
摘要: Discusses whether accounting firms' traditional professional indemnity insurance policies are suitable in the current economy. Insurance companies' concerns; Change in accountants' role; Technology exposure; Liability of trustees of a family trust; Research on professional indemnity insurance....