Professional Risks

Policies designed for office and clerical-based risks for companies such as accountants, solicitors and consultancies – professional indemnity cover should also be considered.

Office:-

Range of covers available in a package policy, including:-

  • Property damage all risks cover for loss of or damage to office contents. Usual policy extensions include loss of metered water, trace and access and property at exhibitions. Subsidence and terrorism extensions usually optional.
  • Computers and electronic office equipment comprehensive cover for computers and ancillaries including damage to hardware, reinstatement of data, increased cost of working and hacking/virus attack.
  • Business all risks – cover for your equipment away from the business premises with optional geographical limits.
  • Goods in transit loss of or damage to equipment to while in transit.
  • Money cover for loss of or damage to money while in transit, in a bank night safe, on the premises, in a safe or while at the private residence of proprietors, Directors or authorised persons.
  • Glass damage to glass or sanitary ware for which the business is responsible as tenant of the business premises.
  • Engineering cover for plant or machinery against sudden and unforeseen loss or damage.
  • Employee dishonesty protection against loss of money or other property following theft or fraud by an employee.
  • Revenue protection loss of income as a result of an insured loss. Cover can usually be extended to include losses from denial of access and failure of public utilities.
  • Employer’s liability statutory protection against injury to employees.
  • Public and products liability protection against the legal liability of the business for bodily injury to third parties or damage to their property.
  • Commercial legal protection – limit available for legal expenses for employment disputes, legal defence, property protection, tax disputes, contract disputes, debt recovery and tenant disputes.

Professional indemnity:-

This important cover protects a wide range of business owners and companies who provide advice to their customers. A professional indemnity policy covers professionals against financial loss as a result of a claim made against them for an alleged breach of their professional duty.

Some professions require this cover under the terms of their governing body (accountants, solicitors and surveyors). Many businesses arrange this cover as their customers insist they have it. Other sensible businesses choose this cover as it provides valuable protection against claims by disgruntled customers. Henshalls insure many professions, including the following:-

  • Accountants
  • Solicitors
  • Surveyors
  • Design engineers
  • Geotechnical consultants
  • Construction companies providing design and construct services
  • Marketing and PR consultants
  • Management consultants
  • Training providers
  • Employment and recruitment consultants

The cover provided does vary significantly between professions and insurers and, as always, we strongly recommend policyholders read their policies and speak to their broker. The policy coverage for the majority of consultant type professions usually includes cover for any civil liability arising from a negligent act or omission in the conduct of the business, including:-

  • Breach of professional duty
  • Infringement of copyright
  • Infringement of other intellectual property rights
  • Breach of confidentiality
  • Defamation
  • Dishonest or fraudulent acts or omissions
  • Loss of documents
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