Professional Indemnity ? Call Yourself And Expert? You?d Better Be?

Professional Indemnity ? Call Yourself And Expert? You?d Better Be?
In business, information can be the most valuable product of all. It can also be the most costly. In a society of enthusiastic litigants, anyone professing to be an expert had better be able to prove it if intending to peddle the fruit of that expertise.

Realistically, though, even experts can make mistakes, which is why Professional Indemnity insurance is so important. Professional Indemnity insurance covers the experts when they ?get it wrong?. After all, inaccurate information about the stock market can cause a client to lose a lot of money.

Likewise, an insurance broker who neglects to inform a client about the correct level of insurance needed is placing that client in potential financial peril. And, if a Business Consultant consults a business all the way to virtual bankruptcy?well, you can see the red lights flashing?

So what types of experts should take out Professional Indemnity insurance? The scope is limited these days only by the imagination of new expertise titles, most of which end with the word ?Consultant?. Some of the more recognisable professions, however, are: solicitors, architects, insurance brokers, financial advisors, tax agents and health professionals.

Basically, anyone who is paid to provide advice, based on the level of expertise conveyed to the public, is vulnerable to claims being made against them if that advice, when taken, goes ?pear-shaped?.

For example:

? A firm of company registration agents was consulted by a business wishing to use a particular name. The company registration agents advised that the chosen name was available, however, a company with a similar name issued legal proceedings. The company registration agents firm was forced to pay the claim.

? Structural drawings were prepared for the construction of steelwork. The drawings allegedly contained errors causing delays in construction due to the alterations required. Consequently, a claim was submitted for the cost of those delays.

? A patient undergoing plastic surgery is rendered partially blind in one eye. Claiming improper treatment, the patient is awarded a settlement.

Professional Indemnity premiums can be quite expensive, however, they are usually also retrospective. Professional Indemnity insurance is written on a Claims Made and Notified basis. This means that a circumstance or event, giving rise to a claim, may still be covered even if it occurred prior to the policy being effected.

Because of the nature of liability claims, it may be years after the event occurred before a claim is actually made. As long as the insured has no prior knowledge of a potential claim and the actual claim is made during the Period of Insurance, the date of occurrence doesn?t really matter.

This differs from other types of liability insurance policies, which, for the most part, are written on an Occurrence basis ? i.e. the incident must have occurred during the Period of Insurance, and a claim may be made at any time afterwards.

Retrospective cover on Professional Liability insurance can be limited, however. If the insurer chooses not to cover incidents that might have occurred in the past, it may invoke a retroactive date limitation. This will limit cover to incidents occurring only from the date specified ? in most cases the date of policy inception.

For example:

Archie?s Architectural Services held a Professional Indemnity policy with Professional Indemnity & General (P.I.G.) from 1st July, 2000 until 30th June, 2005. Becoming frustrated with the somewhat pig-headed attitude to service at P.I.G., they decided to go elsewhere. They switched to W.R.G (We?re Really Good) Insurance and effected a Professional Indemnity policy with them.

W.R.G. decided to write the policy using retroactive date limitation from the date of inception (i.e. 1st July, 2005). If the retroactive date limitation had not been applied, W.R.G. would have been open to claims for incidents dating back to when Archie?s Architects began operating. With P.I.G. also in the mix there was the potential for some big courtroom bunfights!

Instead, W.R.G. will only consider claims made for incidents occurring from the date of inception of the policy.

Obviously, a policy without a retroactive date limitation is more advantageous to the insured, however, the policy will be more expensive and the insurer is not obligated to offer it.

Professional Indemnity insurance, then, is a vital part of any business that provides services and advice based on its proclaimed expertise. It not only provides peace of mind for the business operator, but also for the clients who faithfully rely on that expertise at some risk, either financially or physically.

So, are you an expert yet?

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Megaloud - A New Concept in Car Audio Posted By : Nicholson
Megaloud - A New Concept in Car Audio

Help! My cold engine won’t start Posted By : OzFree Cars
It is a cold Melbourne morning. Your feet are freezing, your scarf is so tight you feel as though you are strangling yourself and your fingers will not work because they are blue and cold. You slide into the front seat behind the wheel and turn the key. Nothing happens. Well it is winter! Now what do you do? Call the car repair shop? Buy a new, better car? Or you can do few simple things to prevent this happening.

Buy a used engine not a new car
Today people everyday are purchasing either a new or used car to replace an older one that may have had previous problems with the engine Buying a used engine is a great alternative to getting into a new car note but it can be risky business if you don’t know what to look for One of the things that makes it so risky is the fact that there is no legal requirement to maintain the engine to any standard or to keep any kind of accurate log

7 Easy Ways To Slash Your Auto Insurance Costs
Here’s 7 easy ways to get the best possible auto insurance deal.

* Multiple Quotes

Get multiple quotes - use the internet and call a few brokers. It’s easy to gather some good comparison quotes.

Remember to get different types of quotes e.g one from a direct-sell insurance company; another from an offline broker who keeps a database of quotes; and a couple from the internet.

Cheapest might not mean best. Will they pay out if you make a claim ? How financially secure ? How reputable ? Check around with family and friends, and look for online reviews.

* Different type of car

Insurance costs vary depending on car type. Obviously, that $100k sports model costs more to insure than your average runabout. If you’re planning to buy a new car, check insurance costs before you buy. I once set my heart on a beautiful, high performance, highly tuned Pontiac.

Luckily I checked the auto insurance before I bought it, because I couldn’t get insurance. Every broker, every insurance company flat turned me down because I lived in a high car-crime area. So I had to forget the car of my dreams until I moved up-town.

* Age and Value of Car

Maybe you’re buying a used car ? Maybe your car saw better days a few years ago, and now values much lower ? So why pay for high-priced auto insurance ? In particular, do you still need fully comprehensive coverage ?

A good rule of thumb multiplies insurance premium by 10, and compares that figure with your car value. So if you’re quoted $1000 premium and your car is worth less than $10,000 you may want to think if comprehensive represents good value. If you drop collision and/or comprehensive coverage, you should get big savings.

* Higher deductibles (excess charges)

Most auto insurance companies use deductibles to keep policy cost down. Deductibles, or excess charges, show what you pay before your auto insurance policy kicks in. Try requesting quotes with different levels of deductibles, and see how your quotes vary.

Most internet quote forms contain a box where you can specify preferred level of deductibles. Ask your broker his recommended level. For example, going from $250 to $500 deductible can slash your insurance costs by 20% or more. Go to $1000 and you save a lot of money. But you must pay the deductible if you need to make a claim !

* Multiple Insurances

I guess this might come under the ‘Get Multiple Quotes’ heading, but it’s still worth mentioning separately. You usually get an insurance break if you buy multiple policies with the same insurer.

This might mean multiple vehicles, or homeowner and auto insurance. Either way it’s worth asking about multi-policy discounts.

* Low Mileage

More and more people work at home. No more commuting. Fewer business trips. Low mileage on your car. Maybe you do travel to work, but car pool ?

Either way, look for low mileage discounts.

* Good Driving Record

A good driving record always reduces your auto insurance costs. Keep a clean drivers license. Don’t speed, don’t drive dangerously, and you’ll save money (apart from other benefits !)

* Bonus Tip

Okay, I said ‘7 Ways…’, but here’s some extra tips. Fit anti-theft devices to your car. Go on an advanced driver training course. Use daytime running lights. If you’re a college student away from home, consider adding to parents policy.

This short article covers the things you must consider when shopping for auto insurance. Follow these tips and you’ll slash your auto insurance costs.

Elbert Hamilton writes for http://www.carinsurancesold.info where you can find out more about car insurance and other topics.

Elbert Hamilton writes for <a href="http://www.carinsurancesold.info">http://www.carinsurancesold.info</a> where you can find out more about <a href="http://www.carinsurancesold.info">car insurance and other topics</a>.

Auto Insurance - If You Want To Know All There Is To Know, Start Here
Cheap Car Insurance

When it comes to owning a car, there are a few things that go along with the luxury. Drivers must pay for gas to get them where they need to go, pay for any repairs that may occur, and must be insured. While the occasional driver will drive five miles out of their way to get the best gas price in town, many drivers forget that they should shop around for cheap car insurance as well. There are several ways to end up with the best deal when it comes to cheap car insurance. You must do a little research however, and reach out for the best bargain around, because it will not likely reach out to you.

Minimum Coverage

If you are looking for extremely cheap car insurance, your best bet is to go with a company that offers minimum coverage. Each state requires a certain minimum amount of auto coverage in which all drivers must be covered under. While some of the more established insurance companies will not offer these low coverage options, there are other companies that specialize in minimum coverage policies. You won?t be getting all of the perks that come with a heftier insurance plan, but your quest for cheap car insurance will be complete.

Combination Offers

If you own a home or a life insurance policy, you may be able to get cheap car insurance by combining the policies under one insurance company. Many insurance agents will offer you a nice discount when you insure your vehicle, home, and life with their company. Sometimes you will only be required to have two of the three, while other times you will be required to purchase all three to get a discount of any type. Make sure that it is worth your while to merge all of your plans however. Never switch a policy unless you are sure the rates are more competitive and the discount will be worth your while.

Annual Quotes

The biggest mistake most drivers make is not requesting new auto insurance quotes each year. While you may not think much can happen in a year, many companies change their annual rates drastically. You may be able to secure a lower rate this year with a company that offered you a higher rate last year. These rates usually change due to the increase in your age. However, sometimes they are simply due to a company?s policies changing and becoming more competitive. So, about two months after your birthday each year, make a few calls to be sure you are getting the cheap car insurance you long for.

As you can see, when you use these simple insurance tips, you can guarantee you will always be getting the best cheap car insurance plan available. Consider signing up for a minimum coverage plan to save a few dollars. Remember that if your vehicle has a lien on it, you may not qualify for minimum coverage. Ask your insurance agent about any combination offers you may be eligible for. Lastly, be sure to call annually to get new auto insurance quotes from several companies in your area. When you are attentive to the possibilities, you will find that getting cheap car insurance is not as difficult as it seems.

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<b>Road Safety Guides - What to do if you break down</b>
If your vehicle breaks down, think about safety, first: Here s a straightforward safety guide from GEM Motoring Assist, the leading UK driver based road safety association.

Consider your own safety

- get your vehicle off the road if possible

- ensure your passengers are safe and that animals are kept under control.

Warn other road users

- warn other traffic by using your hazard warning lights if your vehicle is causing an obstruction

- put a warning triangle on the road at least 45 metres (147 feet) behind your broken down vehicle on the same side of the road, or use other permitted warning devices if you have them. Always take great care when placing them, but never use them on motorways as this may put you in danger from oncoming traffic

- keep your sidelights on if it is dark or visibility is poor

- do not stand (or let anybody else stand) between your vehicle and oncoming traffic

- at night or in poor visibility do not stand where you will prevent other road users seeing your lights

- wear a reflective/fluorescent jacket or tabard.

Calling for help

- do not use mobile phones if there is a danger from petrol spillage or fumes

- contact the emergency services by dialing 999 or 112 (new international emergency code), or if you are a member call GEM Motoring Assist Breakdown Cover or other breakdown organisation

- give clear instructions of your general location: road number, direction of travel and specific local landmarks will aid your rescue

- also tell them your vehicle type and colour, registration number and how many persons are in the vehicle

- an indication of the cause of the breakdown will also help

- when help arrives, ask for proof of identity.

On Motorways ” safety first

Leave the motorway at the nearest exit or pull into a service area. When this is not possible:

- use your indicators or hazard warning lights and pull on to the hard shoulder. Stop as far to the left as possible, with your wheels turned to the left

- try to stop near an emergency telephone (every mile on the hard shoulder) with the front passenger door as close to the phone as possible

- you must leave the vehicle by the left-hand passenger doors

- wear a reflective/fluorescent jacket or tabard

- do not cross the carriageway to reach a closer phone it is safer to wait on the verge. (Remember, 10% of motorway accidents are collisions with vehicles parked on the hard shoulder.)

- do not leave the keys in the car. If possible, lock all the doors except the front passenger door, which you should leave fully open so you can get back in quickly if needs be

- keep passengers away from the carriageway and children under control. Make sure children are safe ” do not leave them in the car by themselves

- if you are an elderly or disabled person, or have small children with you, you may decide it is more sensible to stay in the vehicle. If so, park it as close to the verge as possible

- you must leave animals in the vehicle, with windows only far enough down to let in air. Only let them out of the vehicle in an emergency, but keep them under proper control on the verge

- do not attempt even simple repairs and do not leave the car bonnet open.

On Motorways ” getting help

- walk to the nearest emergency telephone, following the arrows on the marker posts every 100 metres at the back of the hard shoulder. Calls are free and connect directly to the Police - they will know where you are. Stand behind the phone and watch out for passing traffic, or anyone approaching you

- give full details, also inform them if you feel vulnerable. Tell them the number of your breakdown organisation, your car registration and the number shown on the nearest marker post

- return and wait near your vehicle, preferably behind the barrier on the motorway embankment

- when help arrives, ask for ID and check that the breakdown person knows your name

- NEVER get into a car with a stranger or try to hitch a lift

- if someone offers help, stay inside your car with the doors locked (keep windows partially open) and ask them to phone your breakdown organisation for you

- if a car stops while you are waiting for help and you feel uneasy, stay in the passenger seat of your car and lock the door. Phone the Police and give them the car s registration number

- when rejoining the motorway, always increase speed on the hard shoulder and watch for a safe gap in the traffic.

Established in 1932, GEM Motoring Assist is the leading UK driver based road safety association. <a href="http://www.motoringassist.com">GEM Motoring Assist</a> provide a wide range of driver services including low cost <a href="http://www.motoringassist.com">car breakdown insurance.</a>

Instant Car Insurance Quotes Can Be Free - Here Are Some Things To Know First
The annual cost of your auto insurance policy is influenced by many factors. A policy with a very low premium may not carry all the coverage you need. A policy with a very high premium may be stuffed with extras you don?t need. Understanding a few basic auto insurance terms may help you decided which types of auto insurance are best for your particular needs.

Usage

The way you use your car may have a great impact on the premium you pay. Some companies offer significant discounts to car owners who don?t commute on a daily basis. Be sure to let your insurer know if you take mass transit to work or carpool. If you drive a considerable number of miles for work or pleasure your premium may be higher.

Principal driver

The principal driver is the person who has control of the car the majority of the time. Certain age groups have fewer accidents. Having a child or other driver who is under 25 as the principal driver on a car will generally greatly increase the premiums on that car. Drivers over 75 may also have higher premiums. If the principal driver has multiple violations or accidents the premium will reflect those occurrences. Try to list a person from the most accident free age group and with the best driving record as the principal driver.

Deductible

The deductible is the amount which you will pay toward the expenses of an accident. Deductibles are per accident. If you have a $1,000 deductible and have two accidents in a year you will pay a $1,000 deductible for each accident. If your vehicle is totaled the payment you receive will be less your deductible.

Collision coverage

Collision coverage is the insurance for a car when it hits or is hit by another car. This is considered minimum coverage and is required by most states.

Liability insurance

Liability insurance is another part of minimum insurance coverage which is required by most states. Liability insurance refers to coverage for damages which you caused and for which you may be legally liable.

Uninsured driver coverage

Some policies cover damage to the insured person?s auto if the other driver doesn?t have insurance or if the other driver is unidentified due to a hit and run accident. Coverage of this sort may carry many restrictions, read through it carefully.

Please get as many insurance quotes as possible to compare services and pricing. By doing so you will learn more about the insurance process and industry.

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Car tax rises leading to confusion and anxiety
In the wake of the latest Budget announced by the Chancellor of the Exchequer, there is growing confusion about which cars will be clobbered for more tax according to one of the UK s leading car insurers. Swinton Car Insurance is concerned that the latest wave of car tax rises outlined by Gordon Brown is leaving drivers unsure about which category their car fits into and whether their vehicle is one of the heaviest polluters. The Manchester-based insurance company believes that the vast majority of drivers of family saloon type vehicles are unsure where their car fits on the pollution scale and how much it is costing them. But, more alarmingly, an increasing number of drivers are getting worried that they may unwittingly be falling into Vehicle Excise Duty (VED) banding brackets which are becoming demonised for being so-called gas guzzlers. Jon Kirk of Swinton Insurance said that it is all very well the Chancellor raising car tax for the heaviest polluting vehicles and lowering it for the most environmentally friendly cars, but the simple truth is very few people actually know which of the seven A-G bandings their cars fall into. It came as no surprise that the Chancellor put up car tax on the heaviest polluting vehicles in the latest Budget, said Jon. And most people know that 4×4s are the worst polluters on UK roads, but that s not the whole story. As he points out, figures from the Society of Motor Manufacturers and Traders revealed that the worst polluting band only accounted for 7.5 per cent of all new cars sold in 2006. At the other end of the scale the number of cars which fall into the first two bands only accounts for 4.7 per cent of cars. This means that nearly 90% of cars on UK roads fall into just four of the seven bands, said Jon. So you can see where the concern is arising as there seems to be a huge mid-ground where owners of typical family cars can t be sure where on the scale they are in terms of carbon emissions. Swinton Insurance points to a list of examples of cars in the different bands to try to help clear up some of the confusion. Band A (cars which emit less than 100g/km) includes the Honda Insight petrol electric hybrid and the Smart diesel. Band B (cars which emit between 101-120g/km) includes the Toyota Prius 1.5 litre petrol-electric hybrid, Smart car 0.7 litre petrol, Citroen C2 1.4 litre diesel and the Ford Fiesta 1.4 diesel. Band C (cars which emit between 121-150g/km) includes Fiat Panda 1.2 petrol, Ford Ka 1.3 petrol, VW Golf 1.9 TDI diesel, Ford Focus 1.8 TDCi diesel hatchback and the Jaguar X-type 2.0 diesel saloon. Band D (cars which emit between 151-165g/km) includes the VW Passat estate 1.9 TDI diesel, MINI One hatchback 1.6 petrol, Ford Fiesta 1.6i petrol and the Peugeot 307 1.4 petrol. Band E (cars which emit between 166-185g/km) includes the Ford Mondeo saloon 1.8i petrol, Vauxhall Vectra 1.8 petrol saloon, Rover 75 1.8 petrol and the Toyota Avensis 1.8 petrol saloon/hatchback. Band F (cars which emit between 186-225g/km) includes the Land Rover Freelander 2.0 diesel, Toyota RAV4 2.0 litre petrol, Audi A4 1.6 petrol, BMW 5 series estate 3.0 diesel and the Mazda MX5 2.0 petrol. Band G (cars which emit more than 225g/km) includes the Jaguar X-type 2.0 petrol saloon auto, Porsche 911 Carrera Coupe 3.6 litre petrol, Renault Espace 2 litre petrol Range Rover 4.4 V8 petrol auto and the BMW X5 4.8 litre petrol. Simply by making these examples known, Swinton Insurance hopes to put drivers at ease because they have a better framework to work from when trying to establish how much more they are going to have to pay each year in car tax. The biggest problem is that most motorist have little idea how much the increases announced by Gordon Brown are actually going to cost them until they receive their car tax renewal notices, said Jon. And given the Chancellor s timescales, some people won t feel the full effect of his announcement for another 12 to 18 months. While there are losers who will have to pay more car tax because of the Chancellor s announcement, there are also winners. Drivers of cars in Band B will see their road tax bills cut by 15 to 35. But this will only be short-lived because the Chancellor also said VED will rise by 5 for each of the next three years. Drivers of petrol cars also face an extra hike because Gordon Brown said he will be aligning the differing rates between petrol and diesel cars to the higher diesel rate.

Swinton Group was acquired by its parent company MMA Insurance in May 2001. http://www.swinton.co.uk/

Grey imports show true sticking power, says Swinton
GREY IMPORTS SHOW TRUE STICKING POWER, SAYS SWINTON

Swinton Specialist motor insurance experiences 18% increase in enquiries for non-standard motors in the last 12 months

Yesterday s boy racers are growing up, but instead of ditching their beloved Japanese imports, like the ever-popular Nissan Skyline, and opting for something a little more refined, they re sticking to their beloved motors.

The UK s largest high street /motor.swinton.co.uk/car”">motor insurance broker, Swinton, is launching Swinton Specialist, a dedicated team to handle the upsurge in customers seeking quotes for non-standard motor insurance. Swinton believe that this boom is due to the reluctance of drivers over 30 to give up their modified cars.

In the last 12 months Swinton has seen a 18% hike in demand for /www.swinton.co.uk/press/article.php?id=67″”>specialist, performance and modified car insurance quotes and the new division will handle enquiries for all modified, high performance, imported and other non-standard motors.

Grey imports ” cars not available in this country ” are remaining massively popular, with exclusive Japanese motors more desirable than ever. Far from being a passing phase in the performance car market, as speculated by some, following the release of films such as the Fast and the Furious, their popularity has soared.

The car s high specification and excellent value given the strong UK pound is coupled with the trend for short-term car ownership and low corrosive driving conditions in Japan ” leaving them in prime condition for UK owners.

Neil Ackinclose, head of Swinton Specialist, commented: “Performance cars have never been more popular in the UK and we are launching Swinton Specialist to provide motor insurance for this growing market. The internet has become THE market place for car sales, and this has opened up the international car market to UK buyers.”

But it s not just yesterdays boy racers who are snapping-up Japanese imports according to Swinton, who have seen a resurgence of men and women in their 20s making the most of low interest rates to buy specialist cars.

“We continue to see growing interest from the younger end of the market, where customers have high disposable incomes and credit is easily obtainable,” says Swinton s Neil Ackinclose. “/car.swinton.co.uk/imported/”">Japanese Grey imports lend themselves excellently to this market, especially when prices can start for as little as 2k!

“We also believe that high house prices have barred many twenty-somethings from getting on the property ladder, meaning their money is freed-up to spend on nice cars. Importing is now extremely popular as it offers excellent value for stylish, individual machines.”

Swinton has also seen a steady increase in the number of /car.swinton.co.uk/performance/”">modified and high performance cars on their books.

Swinton Specialist searches through specialist schemes from top motor insurers and offers low premiums to owners of modified and performance cars ” with great deals on modified cars, performance cars, grey imports, and penalty pointed drivers. Value-for-money premiums are also available for cars with limited mileage, for owners belong to car clubs, as well as those with good security and tracking devices.

Swinton s Top-10 grey imports:

1. Nissan Skyline (Japan)

2. Mitsubishi Lancer Evolution (Japan)

3. Subaru Impreza (Japan)

4. Toyota Supra (Japan)

5. Mazda RX7 (Japan)

6. Mazda MX5 Eunos (Japan)

7. Honda Integra (Japan)

8. Mitsubishi Pajero (Japan)

9. Cadillac EXT (USA)

10. Ford Mustang (USA)

<a href="http://www.swinton.co.uk/press/article.php?id=67">Modified and performance car insurance</a>

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