News

  • Health & Safety: Still The Most Important Tool for Controlling Insurance Costs

    Personal Injuries Commission confirms Irish soft tissue awards are now 4.4 times that of the UK. The second and final report recently issued by the Personal Injuries Commission confirmed that the level of general damages for soft tissue injuries in Ireland is now 4.4 times the level awarded in the UK. The Commission’s findings only relate to general damages and do not include the cost of legal fees. For Irish construction firms, it is more often the level of awards and legal costs associated with seemingly minor incidents that cause the most frustration. Even where there is a strong defence,…

  • Professional Indemnity – Contract and Tort Explained

    Professional Indemnity (PI) insurance cover protects you from the financial consequences of claims brought by clients or third parties who believe your actions have caused them injury, damage or financial loss. PI claims generally come about in one of two ways. Claims under contract Most claims arise when a client alleges you have failed in your duty to act in their best interests in accordance with the terms of a contract – either real or assumed – and/or to exercise reasonable care and skill. The fact that most PI claims are brought under contract makes it important that your contract…

  • Collateral Warranties & Professional Indemnity Insurance

    A collateral warranty is a warranty that gives a third party rights over an existing contract they are not a party to, writes Terry O’Malley. There are normally two parties to a collateral warranty, the warrantor, who provides the benefit of the warranty and the beneficiary, who is the recipient of the warranty. Professional consultants such as architects, engineers and contractors would usually provide a collateral warranty in a property development. The purpose of a collateral warranty agreement is to create a contractual link between the beneficiary and the warrantor. The benefits of collateral warranties: The beneficiary may be the…

  • Professional Indemnity | What happens when important documents go missing?

    Losing important documents when providing a professional service can prove very expensive indeed. If you mislay key documents, your client could have a case against you for a breach of your professional or contractual duties. The costs of losing documents Professional Indemnity (PI) insurance can protect you against the financial impact of such claims and the cost of your legal defence. But what a standard PI insurance policy won’t do is cover the expenses involved in reinstating any lost documents. These costs can be far from trivial. If you are an architect or an accountant, for example, reinstating lost, stolen…

  • What does a professional indemnity insurance policy cover?

    The short answer is: it varies from policy to policy. In broad terms, a professional indemnity (PI) policy will protect you from the financial consequences of an alleged breach in your professional duties – provided that breach was not intentional. What PI protects If someone with whom you have an actual or assumed contractual relationship believes you have done – or failed to do – something that has harmed their interests, they may pursue you for compensation. Should this happen, professional indemnity insurance can protect you in a number of ways. A standard PI policy will fund your legal defence…

  • Airside Insurance in Ireland – Talk to us about airside liability & motor fleet cover

    Many contractors will carry out work in an airside environment at some point however airside insurance is not something that is covered under a standard motor fleet or liability insurance policy. How do I know if my policy excludes the cover? It is likely that your policy will automatically include an Airside Exclusion unless you have obtained a specific cover extension. An airside policy exclusion may read as follows: This policy excludes any loss or liability caused by, attributable to or arising from the presence of an insured vehicle in any premises or area to which any aircraft has access.…