Cyber liability insurance is already vital for businesses in a wide range of sectors, and the number of industries that need this type of commercial insurance is growing every day.
5 Reasons why you should have Cyber Liability Insurance
Ah. Computers, where would be without them? They have revolutionised how we function as an online business, I don´t know, but I´m betting money it has made a great impact on making things as efficient as possible for your business too, but what if that data was under threat? With the rise of cloud storage, which allows businesses to upload files and data to the net (think of it as a virtual storage) and make it accessible from any computer in the world, data such as this is instantly under threat of malware (software viruses) or being hacked. (more…)
Landlords across the UK are scrambling to complete their tax returns. Self-assessment registrations must be completed by October 31st, and online tax returns should be submitted and paid for by January 31st. Any profit landlords make from a UK-based property portfolio is subject to income tax.
It´s a lucrative time for buy-to-let investors, a study has shown – have you protected your assets with landlord cover? Savvy buy-to-let investors are enjoying a lucrative period in the private rental sector, research has shown.
Solicitors that did not renew their professional indemnity insurance policy by October 1st, but that were due to, have now entered the Extended Policy Period (EPP) and must inform the Solicitors Regulation Authority (SRA) of this fact by today (October 7th).
We at Total Insurance aim to do all we can to make it as easy as possible for solicitors to renew their indemnity insurance. PII represents a significant expense for all solicitors, and naturally, legal practices will want to do all they can to reduce this expense. Furthermore, many firms can find the process of renewing solicitors PII complicated and confusing – someone is an expert at navigating complicated aspects of civil and criminal law will not necessarily be well-equipped to handle insurance renewals!
Although solicitors are always being told to renew their PI insurance well in advance of October 1st, many legal practices have got into the bad habit of leaving things to the last possible minute. This is unsurprising – many solicitors are overworked and under-resourced, and don´t feel as if they have the time to contact solicitors professional indemnity insurance brokers in July or August, but can only squeeze in time to complete a proposal form in the last weeks of September.
Solicitors PII is an essential insurance product for solicitors. Professional indemnity insurance protects firms from compensation claims arising from the professional negligence of the firm itself or of its employees. Without this policy, legal practices could suffer massive reputational damage should they treat a customer improperly, and could even be shut down and made bankrupt.
Legal practices ought to be aware that they are legally required to invest in solicitors professional indemnity insurance – those that do not take out PII could find themselves shut down and their directors fined.
There´s just a fortnight to go until the October 1st PII renewal date, and solicitors across the UK are filling in proposal forms, receiving quotes, comparing the market and speaking to brokers in advance of this date. It might seem like a stressful time of the year, but there´s no reason for the PII renewals process to cause you any significant anxiety. The following tips could help you enjoy a hassle-free renewal!
The run-up to the October 1st solicitors professional indemnity insurance renewal date is typically a very busy time, not just for PII brokers like Total Insurance, but also for solicitors´ insurers and law firms themselves. However, this year looks set to be even busier than last year, as many practices seem to have left their renewals for later than usual.
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