In 2008 , The Climate Change Act received royal assent in the UK, placing a duty on the secretary of state to reduce greenhouse gas emissions by 34 % by 2020. At the forefront to achieving this in the UK is the Energy Act, which came into force on 01/10/2012. The significance of the Act is that by 01/04/2018 , all residential and commercial properties that are rented out must meet certain energy efficient standards . All of the buildings must now be assessed by accredited energy assessors for their energy efficiency and given a rating. If the assessment results in the building being assessed as not energy efficient then improvements will need to be made to the property to make it more energy efficient. Landlords can apply for Green Deal Finance to help them with the financial burden, but to do so the energy assessment will have to be carried out by a qualified Green Deal Assessor. Green Deal Assessors are required to carry Professional Indemnity Insurance and Liability Insurance. Hensure Business Insurance can cater for all of the Insurance needs of Green Deal Assessors and can offer very competitive premiums for both Professional Indemnity Insurance and Liability Insurance.
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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.
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.
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.
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 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 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 competitve premiums.
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
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’
Professional Indemnity claims against Accountants can occur for a number of reasons. One particular claimsarose 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.