Professional & Financial Risks
Professional Indemnity (PI)
As the UK is becoming increasingly litigious Professional Indemnity cover is becoming more important in order to protect yourself against the risks of an expensive legal battle.
We can assist in all areas and excel in the difficult to place cases such as:
- Solicitors including small partnerships and/or adverse claims history
- Estate Agents and surveyors
- High indemnity limits
- Single contact covers
- Run off covers
Directors and Officers Insurance (D & O)
Why do you need Directors and Officers Liability Insurance?
Here’s just a few areas where claims could be made against you:
- Companies Act 2006 (hundreds of possible areas of non–compliance)
- Investigation expenses
- Corporate manslaughter
- Pollution
- Former directors and non-executives
- Mergers and acquisitions
- Health and safety at work
- Data Protection Act
- Disability Discrimination Act
- Racial, sexual and age discrimination
- Insolvency Act
- E.U. directives and regulations
- Consumer protection, etc, etc
The D & O market has become increasingly competitive over the years and as a result premiums have reduced. We are able to offer the very best rates whist concentrating on the quality of cover.
We have experience in operating D & O cover in a wide variety of circumstances including insolvency, dealing with retiring directors and the arranging of extended reporting facilities.
Credit Insurance
Credit Insurance provides the essential commercial protection that allows many businesses to trade by protecting against the potentially disastrous effects that can occur as a result of bad debts. Credit Insurance cover helps to ensure that a business maintains a solid financial footing even in turbulent economic conditions or in uncertain export markets.
Usually referred to as credit insurance, or bad debt insurance, falls broadly within two risk categories;
- Commercial Risk Insurance
Covers non payment of debts due to Insolvency (Administrative receivership, Bankruptcy, Liquidation) or Protracted Default (failure to pay for goods or services provided in accordance with a contract). - Political Risk Insurance
Included on policies with an export component to cover situations where the actions of government cause the payment failure. Examples include; Public buyer default, Export restrictions, Import restrictions, Political events, Foreign currency shortages or restrictions, Inconvertibility, Contract termination, Contract frustration.
Whilst the responsibility for collecting payments and receivables due from buyers and other commercial partners will always sit with the client business, it is a big risk for many companies. Credit Insurance cover for a business can protect against the impacts of:
- Trading partner insolvency
- Cash flow tightening
- Liquidity issues
- Protracted non-payment situations
- Project stage payment delays
- Slow payment procedures
Insurance Bonds
This is a difficult market which has been affected by the recent credit crunch. Through our knowledge of the credit sector, we have been successful in arranging all manner of performance bonds from construction to purchase guarantees.
Please send us an email below with your requirements or contact us by telephone on 01639 646464.
