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Indemnity Insurance Cover Offering
When you render professional services, you are exposed to claims for damages arising out of:
- Allegations of negligent acts, errors, or omissions (for example damages arising out of negligent design or advice which cause your client or a third party loss or harm);
- Unintentional breach of confidentiality;
- Defamation (if for example a report that you prepare includes comments that a third party takes offence to);
- Unintentional infringement of intellectual rights;
- Loss, theft of or unauthorised access to third party documents or property;
- Your dealing in good faith with tainted third party documents/property (for example where you unwittingly rely on a document that has been forged);
- Dishonesty of your employees which has caused a third party loss (for example an employee of yours may be bribed to provide a dishonest report/survey, etc. which someone else may rely upon causing them a loss).
In addition, you may be exposed to:
- Claims arising out of allegations that your negligence in conducting your business has caused someone either injury or loss of/damage to their property (public liability claim);
- Claims arising out of defective or hazardous products where you are involved in the manufacture, design, labelling, packaging, sale or supply of those products. In terms of Section 61 of the Consumer Protection Act suppliers are now strictly liable for any harm, loss or damage caused by a product. All suppliers in the supply chain are jointly and severally liable (products’ liability);
- Allegations that in conducting your professional services you have breached the provisions of a statute, for example statutes relating to health and safety or the protection of the environment;
- Allegations against you that you have breached the ethical code of your regulatory body where you could also be sued by a third party/your client for professional negligence.
The cost of legal advice
Anyone who has had any experience with obtaining legal advice will know that it does not come cheaply. Should you be sued, even if the allegation made against you is completely unfounded, you could end up incurring significant legal costs to defend yourself.
CFP Brokers can offer you a cost-effective comprehensive solution
We are pleased to be able to offer you a solution. We have put together an insurance package which would only be accessible to SACNASP registered scientists which covers all of the above exposures.
The cover is provided by Hollard, a well-known and reputable insurer.
We are here to assist you so please do not hesitate to contact us if you need any assistance or if you have any queries about the cover offered or about Hollard or CFP Brokers and our expertise in the field of professional indemnity insurance.
For all Policy Cover Questions
Call Kristy or Noleen
+27 011 794 6848
+27 011 794 7770
CFP Brokers' Website
+27 011 794 6861
Sweet Thorn on Beyers
Block C, Ground Floor
61 Bosbok Road
Randpark Ridge 2169
Gauteng, South Africa
Suite No 44,
Private Bag X11,
Gauteng, South Africa