Professional Risks: |
Not only is HLI a leading broker in the Professional Indemnity sector, we also specialise in the general Professional Risks market. The main covers include Directors & Officers, Legal Expenses and Employers Practices Liability. "Where there's blame, there's a claim!" - A catchphrase you frequently hear. No one is immune in today's litigious society. Are you confident that your Company's assets as well as your own personal wealth are not at risk from genuine or even spurious litigation? Directors & Officers (D&O) D & O offers protection for Directors & Officers of a Company for any Financial Loss caused by a negligent act in their role or even an act outside an appointees authority. Directors or Officers can be held responsible for actual or alleged wrongful acts, errors or omissions, including negligent advice, mis-statement or improper disclosure. In today's litigious climate, it is good practice to check the adequacy of D & O insurance before accepting an appointment as a director. Importantly, it is essential to remember that the defence and any damages awarded would be funded by the personal wealth of the Directors of the Company and NOT the Company itself. A claim can be brought against a Director or Officer by Shareholders, Employees, Customers, Creditors or Regulatory Bodies. If your Company goes into liquidation, you can be sued by Creditors, Shareholders and Employees for their financial loss. Legal Expenses We can offer Legal Expenses policies that will pay legal costs up to a policy limit including solicitors' and barristers' fees, court costs, expenses for expert witnesses, attendance expenses and accountants fees. It will also pay the costs of appealing or defending an appeal. Employers Practice Liability (EPL) Employment is the fastest growing area of risk exposure that employers face. You are more likely to suffer from an employment dispute than a fire claim. Are you insured against risk of fire!? An award of £200,000 compensation was paid out to a manager of a bowling centre after her ex-employers refused to give her a reference. £10,000 is common compensation for sexual harassment cases. It doesn't end with your employees or ex-employees. You can be sued by those you turn away for a job for race, colour, sex or even Pregnancy discrimination. Are you fully aware of the implications of:
It's easy to think a claim will not arise due to an error by you. In today's society it could be naïve to assume no one will bring a claim against you. |
