As reported on hillsnews.com.au, it seems that outside of Queensland there are no restrictions on who can carry out a property inspection in Australia. You don’t need to be registered, or qualified, or supervised, or insured.
It’s a state of affairs that has led the Chief Executive of Archicentre, the Australian Institute of Architects’ building advisory service, to call for some changes. And for a start, he believes that in order to protect consumers, all property inspectors should be covered by professional indemnity insurance of at least A$10 million.
A bulletin posted recently on hfw.com sets out some of the issues that can arise when claims are made on Directors’ & Officers’ insurance policies. One of those issues is the clause often included in such policies that excludes cover for claims arising from the performance, or non-performance, of professional services. Why do D&O policies contain such an exclusion? Because, it is argued, claims of » read more
In answer to a question raised in Hong Kong’s Legislative Council regarding the professional indemnity arrangements for private medical practitioners, the Secretary for Food and Health outlined some of the key details. As reported on 7thspace.com, the Secretary explained that ensuring adequate insurance provision was in place for private practitioners was the responsibility of the medical professi » read more
In the aftermath of the Keydata insolvency, at least two questions are being asked.
Having paid out substantial compensation to Keydata investors, the Financial Services Compensation Scheme is now seeking to recover those payments from the financial advisers who acted as Keydata distributors. But will those advisers’ professional indemnity insurers agree to cover them? And if so, wi » read more
According to a report published in The Daily Telegraph recently, professional indemnity claims against the NHS have increased by 30% since the beginning of the year. In monetary terms, such claims have cost the NHS some £863m in compensation and £257m in legal fees.
Whilst the NHS is obviously an exceptional organisation in terms of its size and scale, these statistics have led some » read more
The Statement of Principles (SoP) - an agreement between central government and the insurance industry whereby insurers commit to provide cover in return for guaranteed government investment in flood protection measures – is to come to an end in 2013 after 13 years. Not surprisingly, the decision has started a wide-ranging debate.
One approach being suggested is to encourage home an » read more
A recent article posted in dofonline.co.uk offers some sound advice on how to choose a money transfer broker. After all, there’s plenty of choice in the market.
In a list of points that includes checking the broker is authorised by the FSA and that client money is held in a designated client account, the article also recommends that you should definitely make sure the broker has rob » read more
In an earlier blog post, we reported on the potential public liability problems that some freelance members of the entertainment technicians’ union BECTU were facing. Well, the union has now announced that it has improved the group public liability insurance offering.
The issue had centred on who was responsible for providing insurance cover for equipment in a freelancer’s ‘custody » read more
Further news has been reported of the difficulties facing the Solicitors Mutual Defence Fund, the not-for-profit fund established in 1987 to provide solicitors in Ireland with professional indemnity insurance at the cheapest rates possible.
According to thejournal.ie, a Special Meeting of Ireland’s Law Society has been called to consider the winding down of the Fund. Citing the Iri » read more
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