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| However careful you are, claims can occur. Whilst the majority can to some degree be anticipated by the nature of the profession, this is not always the case and many claims come from unexpected quarters, often coming as much of a surprise to us as they do the policyholder. |
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| We have listed below, by profession, some examples of claims under Professional Indemnity policies. We have omitted the value of the claims as they become out of date very quickly. However, it is safe to say that the quantum can range from a few hundred pounds to many millions. |
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Accountants
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The Insured devised a number of tax schemes for clients, but these were rejected by the Inland Revenue. |
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The Insured failed to detect embezzlement by an employee during a routine audit. |
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The Insured failed to prepare accounts and tax returns on time. |
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The Insured advised his client regarding the transfer of funds to various members of his family. The client became liable for capital gains tax. |
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Advertising Agents
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Failure to make adequate checks resulted in Breach of Copyright being proven against the Insured. |
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A spelling error necessitated the reprint of 250,000 corporate brochures. |
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A television personality alleged that her likeness was used in an advertisement without her permission. |
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Agricultural Consultants
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The Insured provided negligent advice regarding spraying for potato blight. |
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The Insured’s advice on the use of chemicals to improve crop yield actually resulted in a loss of yield. |
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Architect
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The Insured neglected to obtain the necessary planning consent for alterations to an existing dwelling. |
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The Insured’s drawings showed incorrect dimensions with the result that the property was built with smaller floor space than was required and had to be demolished and rebuilt. |
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The Insured failed to make regular site inspections to monitor progress on a contract with the result that the work was not carried out to an acceptable standard, nor within the time specified for completion. |
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Auctioneers
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The owner of property auctioned by the Insured claimed that the goods had been sold without her authority. |
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The ‘owner’ of goods auctioned and sold by the Insured did not have good legal title to them. |
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Saturn