Essentials of insuring data protection risks
Insuring data risks can appear daunting with businesses needing to satisfy a range of obligations in terms of compliance, storage, access, and reporting when data breaches occur. Therefore, it is essential for businesses to meticulously review their insurance policies. In 2024 the ICO , the UK’s data protection regulator, completed 36,049 data protection complaints and […]
Consultation triggers changes to Professional Indemnity Insurance for accountants
Modified changes to professional indemnity insurance arrangements for accountants in the UK have been instigated following a consultation process, including the withdrawal of an extension of non-cancellable run-off cover and insurers having to meet unpaid excess. The International Underwriting Association (IUA) had strongly disagreed with suggestions firms should have non-cancellable run-off cover of six years. […]
Defamatory allegations can cause serious reputational damage
The impact of defamatory allegations against a corporation or business can be significant with reputational damage and a loss of customer confidence. Libel, Slander and Defamation are legal exposure which can be insured as part of a Professional Indemnity Insurance, either as extensions to a `negligent act error & omissions wording’, or as being included […]