According to a report on postonline.co.uk, insurance company Travelers has introduced an insurance product designed to meet the specific range of risks faced by the plastics industry. In the view of Travelers UK general manager, the industry is now so heavily involved in all areas of technological development that insurers need to have a particular understanding of the unique risks and emerging issues.
Although cover for specialist risks will be available, the standard cover provided by this new product includes everything from property damage to product liability to professional indemnity insurance. And special discounts will be available to those businesses with ISO or other industry-recognised accreditations.
Manxman Bryan O’Connor – one of very few insurance professionals on the island to be a London Market Certificate holder – has been appointed to lead the new General Insurance Division that has been set up by Island Financial Solutions (IFS).
In this new role, which has an island-wide remit, he will be responsible for developing bespoke offerings for businesses and other organisation » read more
A tale of two cities? It must sometimes seem so to Ireland’s smaller law firms. Whilst for the few, very large, international firms, professional indemnity insurance is easily arranged and, one assumes, the premiums easily absorbed into their overheads, the picture is very different for sole practitioners and the family firms.
As reported on irishtimes.com, the collapse of the prope » read more
Under a new Legislative Decree in Italy, professional indemnity insurance is to be made compulsory for just about everybody whose work requires them to be members of a recognised professional body. And, not only will they need to have the cover, they will also be required to inform clients of all the relevant details in a letter of engagement.
However, as reported on internationalla » read more
A Zurich Financial Services Group member, Lebanese Insurance Company Ltd (LIC), has negotiated an exclusive deal with the Kuwait Lawyers Association (KLA). As reported on ameinfo.com, LIC will now be able to offer Zurich’s professional indemnity insurance product to all of KLA’s members with the Association’s endorsement. The advantages to Zurich of this strategic partnership are obvious and the c » 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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