Professional Liability Insurance is becoming more important as the likelihood of being sued increases. Regardless of the size of your organisation, Professional Liability Insurance is vital in managing your business risks. Strive Insurance can manage the complex process of seeking quotes and comparing cover so that you can rest assured that you and your staff are protected.
Professional Risks Insurances include:
- Professional Indemnity provides cover for the advice you give and the professional services you provide. This type of cover is very important for anyone who provides a 'product' (including advice) that clients or customers rely on whilst charging a fee for this product. Professional Indemnity covers the costs and expenses that you may incur in defence or settlement of claims due to breach of professional duty, negligence, defamation or a client claiming they've experienced financial loss as a result of your advice
- Directors & Officers Liability is essentially Professional Liability Insurance specifically designed to provide financial protection to company Directors or Officers for legal action taken against them regarding their performance and responsibilities in those roles. This cover protects your personal assets in these situations.
- IT Liability packages include Public Liability, Products Liability and Professional Indemnity specifically for Information Technology (IT) professionals. IT Professionals have cover against legal liability from failure of services, products and/or advice.
- Employment Practices Liability (EPL) can exist as a stand-alone policy or as part of Directors & Officers Liability, Management Liability or Professional Indemnity Insurance. EPL provides financial cover for legal costs and/or damages awarded in employment related legal action such as sexual harassment, discrimination and wrongful dismissal.
- Association Liability provides cover for Associations and Incorporated Not-for-Profit (NFP) Organisations, their directors and officers against legal action resulting from negligence, errors or omissions in their service provision.
- Management Liability is a package of covers for companies and directors for litigation expenses. The package may include Directors and Officers Liability, Corporation Reimbursement, Corporation Liability Entity, Employment Practices Liability, Superannuation Trustees Liability, Corporation Crisis Cover, Directors and Officers, Fines and Penalties Cover and Fidelity Cover