Tag Archives: premiums

The Ogden Discount

If we mention the ‘Ogden Discount’ to you, you’d probably look at us blankly. However the decision taken by the Lord Chancellor, Liz Truss, to change the way insurers calculate compensation awards for serious personal injury could have an impact on your insurance premiums. In a nutshell the Lord Chancellor’s decision ensures inflation doesn’t erode […]

Solicitors throughout the UK are facing ever increasing “Management Liability” exposures.

“Management liability exposures” is a catch-all expression that describes the risks faced by directors, partners, officers, managers and business entities that arise from governance, finance and management activities. The SRA’s regulatory regime of COLP’s and COFA’s creates ready-made targets for any resulting actions. Traditional PII liability policies aim to provide cover for professional negligence whilst […]

To disclose or not to disclose, that is the question? Consequences of non-disclosure

The duty of disclosure is a very important element of an insurance contract and can affect all parties involved. The Marine Insurance Act 1906 states that a company’s insurance is only valid if it volunteers all relevant information when taking out the policy.  Essentially any detail that may cause an underwriter to consider a risk […]