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Retro what?
Professional indemnity policies will usually have this thing called a ‘retroactive date’. This is the most confusing part of professional indemnity. In a recent survey we found that over 60% of respondents did not understand what this meant. I think there could be 3 reasons why people are not understanding this: Their insurance provider is […]
Read moreSome info for @arla_uk and @naea_uk agents
Info for arla agents on complaints and their professional indemnity insurance. Here is a curious thing. ARLA and NAEA agents, in their desire to pacify customers, can sometimes go a little too far in admitting they are wrong or liable. It may make commercial sense to do this sometimes but it is important to consider […]
Read moreFriday Property Agent Fable continues…
We left our hero, Mr S, having started his business as a property agent and growing fast. All was going well until….. Trouble walks into his office. The problem with this trouble (like many) was that it was disguised as opportunity. In walks Mr Ishitzuup (Mr I). Mr I has a portfolio of properties he […]
Read moreSome useful advice on complaints…
At the Oxford ARLA conference the Property Ombudsman shared some useful thoughts on handling complaints. Some of them included the following: Keep the complainant informed Ensure the complaint handler is not the person who caused the complaint Keep good telephone notes Don’t admit liability even if payment is made If an offer is made then […]
Read moreJargon be gone!
Jargon be gone!! What is this about? Believe it or not it’s about insurance!!! Mr Jar was a business consultant and he bought 3 types of insurance. He bought Professional indemnity (PI), Public liability (PL) and Employers liability(EL). Mr Jar was not good with detail. So when he made a mistake and one of his […]
Read moreThe Friday fable continues…..
So continuing from our story last week. We saw Mr Shittapenz get fired, bring a successful claim for unfair dismissal, and getting an award of £70,000 (paid for by his ex employers’ insurers!) So Mr Shittapenz is £70,000 richer but without a job. What now, he thinks? Mr Shittapenz had always had a passion for […]
Read moreAll change for Estate agents and Letting agents…
There is so much change in the landscape property agents operating within. The changes are economic, legislative and behavioural. The upturn in the economy, low interest rates, the help to buy and escalating house prices are fuelling the housing market. This same inflation in property prices is also leading more people to rent properties. The CPRs […]
Read moreA Friday afternoon story for you…
Have you ever heard an insurance story? “Please no!” I hear you cry! Insurance is a live thing that lives and operates every day in the business world. So perhaps you’ll read on if you’ve come this far already! So this is a story about Mr Shittapenz (he hails from Central Europe) and it paints […]
Read moreWhat on earth does it all mean?
I hear so many people requesting Public liability when they really mean Professional Indemnity, Employment Practices Liability when they really mean Employers Liability. So what are these covers and what do they do? Here is a simple guide:. Professional indemnity: This protects you against your legal liability toward a third party. So if you, or […]
Read moreTrouble on two legs – why take the risk?
Whether you are a large property agent with lots of employees or a surveyor with just one employee, it is a legal requirement for all employers to have employers’ liability insurance. Running a company may come with its own headaches, but employers’ liability insurance doesn’t have to be one of them. With professional help from […]
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