Professional Indemnity Insurance category

PSD2 Insurance – Is Your Professional Indemnity Insurance Compliant?

The European Banking Authority (EBA) has finalised guidance for financial technology (fintech) companies on the type of Professional Indemnity insurance that they will need to put in place to operate in the EU’s payment services market from this year. The guidance applies from 13th January 2018, the date on which PSD2 took effect in national legislation across EU member states. This guidance sets out the criteria on how to stipulate the minimum monetary amount of PII for two new services defined in PSD2: payment initiation services (PIS) and account information services (AIS).


Protecting Your Intellectual Property

In recent months, a number of intellectual property infringement cases have hit the headlines, some closer to home than others! From spicy chicken to sweet marshmallows, there seems to be a new case of IP infringement every fortnite.


Recruitment Agencies…You know you need Vicarious Liability cover, but what else?

Recruitment agencies face a unique set of circumstances when buying insurance. Yes, normal office cover and general liability cover is required for their own staff, but they can often be responsible for the workers they place as well. They need a policy that offers explicit cover for vicarious liability, cover for standard and non-standard contracts, a specifically designed office package and a clear distinction between an agency’s own staff and the candidates they place.


What is primary and non-contributory Insurance?

Under contract you may be required to provide insurance which is primary and non-contributory.


What is waiver of subrogation?

Subrogation is where an insurer inherits your rights and ‘step into your shoes’ to recover losses from a third party who is responsible for a claim, that your insurer has paid in full, on your behalf, to release you from that claim.


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