How Do You Select the Best Indemnity Insurance for Professionals in Gauteng?
The Professional Indemnity Insurance Requirements List market is currently in its soft phase, with insurers still placing emphasis on volume at the expense of profit in Gauteng. And what of the future? It is certain that at some stage the market will enter harder conditions. There is uncertainty as to when the market might harden and by how much. Invariably the deeper and more prolonged the soft market the more pronounced the adjustment will be when it comes.

Events in insurance, as in life, are powerful and unpredictable. What future events might conspire, individually or collectively, to prompt a return to harder market conditions? The following is a list in Gauteng, by no means exhaustive, of the likely culprits :-
Griffiths & Armour Professional Risks acts as manager for the professional indemnity division of Griffiths & Armour.
All rights reserved. This document does not present a complete or comprehensive statement of fact or the law, nor does it constitute legal advice. It is intended only to highlight issues that might be of interest to Griffiths & Armour clients; specialist legal advice may be required where appropriate. Where links to third party indemnity insurance websites are provided, we accept no responsibility for their content.
Interesting Facts About About indemnity insurance for Professionals in Gauteng:

Where are we now - and the future?
The Professional Indemnity (PI) market is currently in its soft phase, with insurers still placing emphasis on volume at the expense of profit.
And what of the future? It is certain that at some stage the market will enter harder conditions. There is uncertainty as to when the market might harden and by how much. Invariably the deeper and more prolonged the soft market the more pronounced the adjustment will be when it comes.
Events in insurance, as in life, are powerful and unpredictable. What future events might conspire, individually or collectively, to prompt a return to harder market conditions? The following is a list, by no means exhaustive, of the likely culprits:-
Griffiths & Armour Professional Risks acts as manager for the professional indemnity division of Griffiths & Armour.
Griffiths & Armour Professional Risks Ltd is an appointed representative of Griffiths & Armour which is authorised and regulated by the Financial Services Authority.
All rights reserved. This document does not present a complete or comprehensive statement of fact or the law, nor does it constitute legal advice. It is intended only to highlight issues that might be of interest to Griffiths & Armour clients; specialist legal advice may be required where appropriate. Where links to third party websites are provided, we accept no responsibility for their content.
Product Liability vs Professional Indemnity Which is Better for You?

Where are we now - and the future?
The Professional Indemnity (PI) market is currently in its soft phase, with insurers still placing emphasis on volume at the expense of profit.
And what of the future? It is certain that at some stage the market will enter harder conditions. There is uncertainty as to when the market might harden and by how much. Invariably the deeper and more prolonged the soft market the more pronounced the adjustment will be when it comes.
Events in insurance, as in life, are powerful and unpredictable. What future events might conspire, individually or collectively, to prompt a return to harder market conditions? The following is a list, by no means exhaustive, of the likely culprits:-
Griffiths & Armour Professional Risks acts as manager for the professional indemnity division of Griffiths & Armour.
Griffiths & Armour Professional Risks Ltd is an appointed representative of Griffiths & Armour which is authorised and regulated by the Financial Services Authority.
All rights reserved. This document does not present a complete or comprehensive statement of fact or the law, nor does it constitute legal advice. It is intended only to highlight issues that might be of interest to Griffiths & Armour clients; specialist legal advice may be required where appropriate. Where links to third party websites are provided, we accept no responsibility for their content.
Professional Indemnity Insurance Requirements List in Gauteng

When professionals are hired, they are done so with the belief that they have the necessary expertise and knowledge to carry out the task to the best of their abilities. Added to that, there is a certain code of conduct they are expected to abide by while doing their jobs. When professionals fail to meet the standards desired of them and their skill levels fall much below expectations, they are liable to be taken to court for the loss they inflict upon the business of another person. Thus, they need professional liability insurance. Professional liability insurance is termed "errors and omissions" liability, when liability is confined to acts of negligence.
There are different types of personal liability insurance coverage. Personal injury covers the client against claims of slander, libel and invasion of privacy. Intellectual property infringement coverage covers the client against claims of copyright infringement. Software processes and systems are commonly termed "intellectual properties." Also, worldwide coverage is provided if the suit is bought in America.
Professional Liability Insurance for Counselors, Psychologists and Therapists

Business liability insurance is tailored to protect your business against the cost of litigation and claims resulted from third party damages or bodily injuries caused due to negligence of your business. With respect to liabilities that a business can face, there are three main types of business liability insurances - public liability insurance, product liability insurance and professional indemnity insurance.
The above mentioned business insurance types differ from one another, but have their own importance in protecting the business from liabilities. Hence, it is very important for businesses to safeguard their investment and consider the three policies based on the type and need of their business. Before deciding on what to take, understand the differences between them.
Public liability insurance
Public liability insurance protects the insured against the third party claims that are likely to be raised due to damage to property, bodily injury or death occurred because of operation of the business.
Deciding the right package of business insurance is quite hard. You should, however, see to it that you purchase insurance to cover every aspect of the risk involved in your business. The most common insurance cover includes product liability, public liability and professional indemnity insurance. All three policies are different from each other, but they are intended to protect your business from different risks of claims and liabilities. Hence, ensure that you have proper cover for your business against possible liabilities.