Professional Risks Insurance
A profession is a vocation founded upon specialised educational training, the purpose of which is to supply objective counsel and service to others, for a direct and definite compensation, wholly apart from expectation of other business gain…
We all rely on professionals at many points of our lives and rely on them to be experts and to know what to do when we need them to.
Back in the nineteenth century, the professions were defined as law, religion, and medicine. Nowadays, the number of professions is much wider and ever-increasing, as occupations become more specialised in nature and more 'professionalised' in terms of requiring certain standards of initial and ongoing education – so that anything from automotive technicians to web designers can be defined as professionals.
Through specialist policies and years of experience we deal with a diverse range of professions from accountants to technology companies, medical suppliers to consulting engineers. No matter what profession you're in, business you manage, or sector you serve, client expectations around service and quality of advice remain legitimately high. The obvious challenge with such a benchmark is preparing and managing any alleged negligence or breach of duty.
To that end, we provide a range of solutions from bespoke directors and officers liability and professional indemnity insurance policies, to specific combined professional indemnity and products liability solutions custom-built for specific professions.
- Professional indemnity & liability
- Errors & omissions liability
- Trustees liability
- Medical malpractice liability
- Directors & officers liability
- Financial Institutions insurance
- Cyber liability/privacy & security
- Employment practices liability
- Partnership liability
- Products Fiduciary/pension trustee liability
- Fidelity insurance
- Product recall / Product guarantee
Professional Risks Insurance Case Studies
Health and Leisure chain: North West: Turnover £8m
We were successfully appointed on a chain of health and leisure establishments based in the North West from a large provincial broker.
Our initial saving amounted to 26% or £16,000 but our broking report also focused on the numerous liability claims which had resulted in the existing agent's increase in premium. The board decided to implement a concerted campaign on health and safety improvement which resulted in a marked improvement in the liability claims experience.
We subsequently took over the firms new "flagship" location and continue to service their requirements involving visits to each of the locations on a scheduled basis.
Munitions Company: North East England: Turnover £2m
We were invited to conduct a review of the insurances for a leading independent testing, evaluation and analysis company with specialisations in weapons, ordnance, munitions, explosives and armour systems.
Their work involves exploding tanks, planes, helicopters, vehicles, and also testing RPG’s & High Velocity Guns and their work is in the international defence safety and security communities.
Events Management company: Maidenhead: Turnover £20m
We have acted for this client since 2001 and in this time seen have them grow from a £1m business to a budgeted turnover in the coming year of £20m.
The company are involved in event management and brand activation campaigns for some of the worlds largest companies including L'Oreal, Citreon UK and Unilever and their UK customers also include Boots, Morrisons, Superdrug and Tesco.
They have 20,000 consultants on their books with work undertaken seven days a week. Delta Corporate arranges all of their corporate insurance arrangements and with a growing business conduct regular reviews with varying levels of management to assess the client's requirements on an ongoing basis