Investment Managers Insurance
Investment management is a profession that is known to be stressful due to the risks involved, however, it doesn’t have to feel this way for all aspects of the role. Choosing the correct investment management insurance is the best way to minimise some of the risks and stresses related to the industry. Some of the most popular policy options for investment management firms include professional indemnity, directors’ and officers’ liability and employment practices liability.
Professional indemnity insurance provides protection to your business if a client wishes to make legal claims of malpractice or professional misconduct. Directors’ and officers’ liability insurance is designed specifically for the company’s management. This cover protects the assets of directors and officer if the situation arises in which claims are made against them for failure to correctly carry out duties and obligations. This policy covers financial costs or legal costs that may occur as a result of these claims. Employment practices liability protects your business against claims made by ex-employees for unfair dismissal from their roles.
Investment management is an industry fraught with risk, however, not all risks need to be unchecked and unknown, especially with the right insurance plan.
Hotels, motels, bed and breakfasts and even Airbnb’s could all benefit from the protection of accommodation insurance. Not only will this coverage protect your business but it also provides protection to your income and livelihood. The most popular types of cover include public liability, business interruption, professional indemnity and management liability.
Public liability insurance provides coverage for your business if a third-party is injured at your premises. Medical and hospital bills are financially covered as well as any legal costs that your business may incur due to third-party legal claims. Business interruption insurance protects your business in the instance that you may have to close your premises for personal or site-related reasons, this cover financially compensates loss of profits that may result from business closure. Due to the service nature of accommodation businesses, professional indemnity insurance is often recommended to provide coverage for any claims of malpractice, misconduct or negligence from customers. These claims can often require legal representation, which are covered by professional indemnity insurance. Often an accommodation will have a managerial employee handle majority of customer relations, questions and concerns. Should a manger provide incorrect information that leads to customer losses (physical or financial), breach their duty or commit a wrongful act on your behalf, your business will be financially covered.
Accommodation properties can be open to a range of unexpected risks, in order to protect your business and minimise this risk it is important to consider accommodation insurance.