In today’s world it is difficult to keep pace with ever increasing legislation and regulation - firms are being exposed to new risks. There is also more personal liability being imposed on individual directors. We assist in identifying these risks and discussing the potential of insurance covers to mitigate your financial liabilities. These would include professional advice risk, Directors & Officers, Employment Practices Liability, Environmental, Crime and Cyber.

Professional Indemnity Insurance

A Professional Indemnity Insurance policy provides indemnity against loss arising from a breach of duty which may be made and reported to the insurers during the policy period by reason of any neglect error or omissions committed in the conduct of the insured’s professional business. An important feature is that cover operates on a “claims made” basis but can relate to work carried out at any time in the history of the insured’s business.

Some Professional Indemnity Insurance policies go further than the standard cover and provide indemnity to the insured for “Civil Liability” covering areas such as breach of contract and libel and slander. Cover will often also include :-

  • Loss of documents
  • Dishonesty of employees
  • Fidelity
  • Unintentional breach of confidence
  • Infringement of copyright and intellectual property rights
  • Previous firms or previous partners

Directors and Officers Insurance

Directors liabilities can be summarised under four distinct headings:-

  • Personal liability to third parties for acts of the company
  • Regulatory/disciplinary proceedings and investigations
  • Civil liability to the company at common law
  • Statutory liability

If claims or disputes arise the directors/officers of the company can be made personally liable. The most likely source of a claim would be from the following areas:-

  • Shareholders
  • The Department of Trade and Industry
  • The Official Receiver
  • The Company itself
  • Regulatory bodies
  • Customers

Directors and Officers Insurance also operates on a “claims made” basis. To find out more about D&O click on the button below.

Directors & Officers Insurance

Credit Insurance

The spectre of bad debt hangs over many companies and Willis IRM can provide a consultancy service that addresses the financial health of your organisation. Credit Insurance can be a solution to non-payment concerns and we will provide an objective view on the suitability of a policy for your company as well as discussing the cost effectiveness of cover versus risk.

Insuring your sales ledger which can be your largest asset

  • Early warning system
  • Assessing credit worthiness of existing customers
  • Comfort to enter new and overseas markets
  • Debt recovery service
  • Access to better finance
  • Enhances credit control
  • Reduce bad debt provisions

We have access to specialist Credit Insurers and can design a policy that meets your requirements.

To find out more about our Services please contact our team today on T. +44 (0) 28 9032 9042 or fill out the form below: