UNEXPECTED SOME PROBLEMS COME FROM THE MOST OF PLACES. PROFESSIONAL INDEMNITY INSURANCE.

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1 PROFESSIONAL INDEMNITY INSURANCE SOME PROBLEMS COME FROM THE MOST UNEXPECTED OF PLACES /14 Claims are dealt with on a case by case basis and are subject to the terms and conditions of the policy wording. For full details please read the policy wording. Hiscox Underwriting Ltd is authorised and regulated by the Financial Conduct Authority.

2 Professional indemnity insurance from Hiscox If a client is dissatisfied with your professional advice or services you could be vulnerable to a claim if it has caused loss. Contents 3 Professional indemnity from Hiscox 7 Facilities management 9 Green consultancy 11 Health and safety consultants 13 Interior and garden designers 15 Training, coaching and education 17 Crisis containment With Hiscox professional indemnity cover, you re free to concentrate on what you do best in the knowledge that you re protected should you find yourself on the wrong end of a claim for negligence. Hiscox. As good as our word Hiscox is no ordinary insurer. We may work in the insurance industry, but we like to think our principles are all our own. No empty promises. No needless delays. No nitpicking over small print. That s simply not the way we do business. Our professional indemnity provides, as standard, cover for: negligence or breach of duty of care: we cover your business against giving bad advice as a result of your business activities privacy: we cover you for breach of confidence or disclosure of a client s confidential information; for example if you wrote a case study about a client on your website and used details about their business, without their permission rectification: we cover the costs up to a specified limit of putting right lost or damaged non-electronically held documents of a professional nature court attendance: if you or an employee have to attend court in connection with a covered claim we will cover costs up to a specified limit for that court attendance computer virus: cover for negligent transmission of a virus. For instance, if you forwarded an to your customers and it subsequently transpired that the contained a virus that had been specifically targeted at your business, we would cover you to help put this right. 3

3 COVER TAILORED TO YOUR NEEDS. Additional value for your business We also understand the value of keeping things simple. That s why, when we give you protection, we offer three additional benefits to help you cut down on the paperwork: a single policy, incorporating only the cover modules your business requires interest-free payment by Direct Debit, so your premium is automatically paid; with the added benefit that it also helps you to manage cash flow continuous protection while your Direct Debit remains in place, avoiding the inconvenience of annual renewal forms (we will advise of any changes in premium that may become necessary during the period of insurance). Cover tailored to your needs We work hard to understand the specific risks your business faces, so you can choose the insurance that s right for you. As well as our standard cover, we tailor our professional indemnity policies to respond to the risks most relevant to your industry sector. The following sections describe the cover we offer to five growing professions. 5

4 FACILITIES MANAGEMENT WE KNOW WHAT S ON YOUR RISK CHECKLIST. Facilities management If you are a facilities manager looking after a block of flats, small- to mid-sized commercial offices, or a shopping centre, you face the risk of clients suing you for breach of duty under a growing burden of regulation. That is why we have designed our professional indemnity policy specifically for those involved in facilities management whether working as a facilities manager, or advising on areas like incidental rent reviews. With cover from Hiscox... In addition to the cover provided by our standard professional indemnity insurance we have tailored the policy to include: investigation costs under Health and Safety Acts, and Data Protection Act compensation payments awarded by any ombudsman arising from a breach of duty of care to your clients. Claims example Following a health and safety inspection, a management firm is instructed by the property owner to rectify a number of maintenance issues. Due to an oversight they fail to arrange for a loose board to be nailed down at the top of a set of stairs which resulted in an accident. The property manager is subsequently prosecuted under the Health and Safety Act. If the property manager had a professional indemnity policy from Hiscox, we would have paid the costs of defending the prosecution. 7

5 GREEN CONSULTANCY Green consultancy WE LL DO THE RIGHT THING. In a fast growing and fast changing sector like green consultancy, we work hard to make sure our professional indemnity cover keeps up to date with the rapidly evolving risks that your business faces, so you can get on with delivering cutting edge consultancy to your clients. Our professional indemnity cover is aimed at a wide range of green consultancy roles including: energy assessors ecological consultants energy wholesalers carbon footprint analysis/advice consultants environmental impact assessors renewable energy consultants. With cover from Hiscox... In addition to the cover provided by our standard professional indemnity insurance, we have tailored the policy to also offer: cover for survey work defence costs for investigation under the Environmental Protection, Health and Safety, and Corporate Manslaughter Acts pollution cover cover for the source and supply of products (for example if the product was not fit for the specified purpose). Case studies An energy consultant failed to deliver a report on time, resulting in their client failing to receive appropriate grants. Hiscox handled the claim and paid the claim quickly, minimising the damage to the client relationship. Incorrect analysis by an energy consultant meant their client failed to make the savings they could have done on their energy usage. Hiscox settled the claim and compensated the client. 9

6 HEALTH AND SAFETY Health and safety A SHARP RESPONSE FOR AN UNFOLDING HAZARD. Sometimes advising on occupational hazards can be a hazardous experience. If things don t go as planned, insurance cover from Hiscox can help protect you against difficult clients and potentially expensive legal situations. We have developed professional indemnity cover specifically for those working in health and safety, whether you are a health and safety officer or involved in areas such as: health and safety audits drafting health and safety policies fire risk assessments training. With cover from Hiscox... In addition to the cover provided by our standard professional indemnity insurance, our policy has been tailored to include: cover for survey work defence costs if you are being investigated under the Health and Safety and Corporate Manslaughter Acts. Case studies A health and safety consultant failed to provide the necessary health and safety certification in time and as a result their client had to cancel an event. Hiscox handled the claim and were able to compensate the event organisers for loss of revenue and paid out for the health and safety consultant s legal fees incurred in defending the claim against them. A failure to advise correctly on current health and safety legislation resulted in a fine for our insured s client who subsequently alleged negligence against the Insured. We handled the claim quickly and efficiently and reimbursed the insured s client for the fine they had to pay. 11

7 INTERIOR AND GARDEN DESIGNERS A GOOD MATCH FOR YOUR BUSINESS. Interior and garden designers We know that interior and garden designers often source and supply a wide range of products for their clients, as well as using non-specialist sub-contractors. That is why we have tailored our professional indemnity cover to protect you against these potential risks to your business. Our cover is suitable for interior designers, garden designers and those undertaking incidental project management or co-ordination work. With cover from Hiscox... In addition to the cover provided by our standard professional indemnity insurance, we have tailored the policy to also offer: cover for someone infringing your intellectual property (for instance if someone copied a cushion cover that you had designed) cover for the source and supply of products (for example if the product was not fit for the specified purpose). cover for sub-contractors you use, that are under your supervision, so you will still be covered for any mistakes they might make. Claims example A garden designer incorrectly sources material for cushions which are to be used on external garden furniture. Unfortunately, it subsequently transpires that the material is not suitable for use outside and as a result the cushions are not fit for purpose. Under a Hiscox policy, we would pay the costs of replacing the cushions. 13

8 TRAINING COACHING AND EDUCATION MISTAKES CAN T BE ERASED, BUT THEY CAN BE PUT RIGHT. Training coaching and education You may be a professional working in a training, coaching or education role, whether as part of a commercial training firm, a freelance career coach, or a part-time teacher at school or university, but whatever your specialism, you face a wide range of professional risks. We have designed our professional indemnity cover to protect you against specific risks such as a client bringing a claim against you for failure to educate or supervise. With cover from Hiscox... In addition to the cover provided by our standard professional indemnity insurance, we have tailored the policy to also offer: cover for complaints to governing bodies such as the Local Government Ombudsman or the Office for Standards in Education cover for failure in a duty to educate, or failure in a duty to supervise; for instance teaching a course and omitting a key element of the syllabus. Case study A training consultant used a set of training materials that, unknown to them, infringed the original course creator s intellectual property rights. If they had Hiscox professional indemnity cover, the original owner of the training materials would have been compensated and the insured s professional integrity protected. 15

9 CRISIS CONTAINMENT ONE ASSET YOU CAN T AFFORD TO RISK IS YOUR REPUTATION. Crisis containment Reputational damage can destroy a business, but crisis does not have to mean disaster. Many businesses, having understood the need for effective crisis communications, have emerged from a crisis with their reputations actually enhanced. If you experience a claim against your business, we recognise the importance of effective crisis containment which is why we now include, as a standard benefit in our professional indemnity cover for emerging professions, the services of a leading specialist crisis PR firm. Key features include: immediate crisis communications support provided by a leading specialist PR firm a dedicated hotline available 24-hours a day, seven days a week tailored support to match the individual needs of each situation covers up to 25,000 of costs: we anticipate this will be more than sufficient, but should additional services be required, our partner s services will be available at a specially agreed rate. Our expert partner will also work alongside existing PR resource where required. 17

10 NEXT STEPS? Next steps? In this document, you ll have seen brief summaries of our new professional indemnity insurance products. For comprehensive details on any area in particular, or a no-obligation personal quote, please contact your broker. We also provide: medical malpractice insurance office insurance management liability portfolio charities insurance portfolio venue insurance clubs and associations insurance portfolio. 19