Professional indemnity insurance
- Published: 08 July 2013
- Last Updated: 10 April 2015
SACNASP PROFESSIONAL INDEMNITY
SACNASP is in transformation for a small group of registered natural scientist to a directed professional council. The past year has been one of change and transition. The team has had to develop into an organisation that can support the huge increases in registration applications and new initiatives.
As part of our improved service for registered scientists, SACNASP has entered into a partnership that has enabled us to offer professional indemnity insurance cover at competitive prices.
Cost of legal advice
When rendering a professional service, professionals are exposed to claims for damages from many areas, And 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 allegations made against you is completely unfounded, you could end up incurring significant legal costs to defend yourself.
Claims for damages arising out of:
- Allegations of negligent acts, errors, or omission (for example damages arising out of negligent design or advice which caused a client or third party loss or harm)
- Unintentional breach of confidentiality;
- Defamation (if for example a prepared report 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;
- Dealings in good faith with tainted third party documents/property (for example where you unwillingly rely on a document that has been forged);
- Dishonesty of employees which has caused a third party loss (for example an employee 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 re 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;