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Bonfire Night is typically the most demanding night of the year for the police, the fire brigade and other agencies.
The damage which can be caused to property and business operations, as a consequence of the use of fireworks is a serious concern, posing a danger to all types of buildings, including commercial and industrial premises as well as residential.
As far as this relates to the business community, the risk posed by fireworks, whether this is the result of anti-social behaviour or just an accident caused by burning debris, can be significant.
Price isn't everything when it comes to PII. Before you accept an offer, you need to make sure that your new or renewing policy covers you for the full spectrum of activity your business undertakes.
Follow our 5 step checklist below to ensure you have the correct solicitors professional indemnity insurance:
Make sure you know exactly what liability caps are and how they could affect your business in the case of a professional indemnity claim. Here's everything you need to know about liability caps for surveyors:
What are they?
Liability caps are contractual agreements that mean a client can only claim damages up to the amount agreed, even if the law would otherwise award a greater sum in damages.
RICS themselves strongly recommend the use of caps wherever possible as a way in which to manage the risk in valuation work, and to ensure that there is a fair allocation of risk and reward between members and their clients.
Accountancy is one of the more 'established' professions, but this hasn't stopped the sector becoming fragmented with a confusing mix of several professional bodies and unqualified but highly experienced advisors.
You will also know that firms vary greatly in size and services, which is why insurers have to take extra steps with accountants before accepting a professional indemnity policy.
To make sure your accountancy firm is ready to submit a new or renewing policy, here's 10 pieces of information insurers scrutinise including the risk associated with each check when signing off professional indemnity for accountants.
Avoiding complaints or dealing with them expeditiously, is important to a successful business.
Last year 75% of complaints were accepted by the Ombudsman because firms had not resolved the complaint within the eight week period allowed to a surveyor for internal resolution.
Only 19% were referred because the complainant was not satisfied with the surveyor's response to the complaint. There is substantial scope for reducing referrals to the Ombudsman if this eight week period is used more effectively.
Depending upon the nature of your business, depends on how important you hold cyber risks.