The
Need

In today’s service-driven economy, it is
crucial for professionals, and those providing specialist advice, to
employ specialised knowledge, skill and care in their
business dealings with their clients. These professionals must exercise a
degree of care and skill which is reasonably expected of any competent
practitioner in that particular profession.

If a person provides advice or a service to
another and carries that work out negligently, they could be held legally
liable for the consequences thereof. Liability can arise because there has been
a breach of duty of care or a breach of contract. Accountants, architects,
engineers, and lawyers, amongst others, include professionals who are often
exposed to litigation. Many of the suits brought against these professionals
are as a result of damages sustained due to the professional’s failure to
perform according to the generally accepted standards in their respective
fields.

Heightened consumer awareness, which is largely
as a result of new legislation protecting consumers’ rights, coupled with tough
economic conditions, is resulting in our society gradually becoming more
litigious. Even where there has been no proven error resulting in liability, a
third party may initiate a suit against the professional purely as a result of
the project not being successful. Defending actions in court could prove to be
time-consuming and expensive uncertain. In the event that the professional is
found guilty, the costs related thereto, which may include reimbursement of the
litigant’s expenses, may be an unaffordable financial burden.

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The
Solution

To error is human – everyone makes mistakes. A
professional cannot ignore an accusation of negligence; the allegation must be
defended or admitted. In either case, there will be cost implications. In
today's litigious age where 'claim' often follows 'blame' having adequate
Insurance cover which can protect the individual and the business
from the financial fallout of such claims is imperative. There is no doubt that
the quantum of court awards has risen sharply in recent years and Professional
Indemnity Insurance will ease the financial burden of defending claims and
damages payable in respect thereof. It provides the ultimate safety net when
all else fails.

Camargue’s Professional
Indemnity policies cover the following including defence costs:

• Negligent acts
• Negligent errors
• Negligent omissions or
• Negligent breach of contract

Risk
Management Services

Camargue’s unique M³ approach to insurance is
geared towards managing, mitigating and migrating critical business risks – an
outcome achieved through the provision of value-added risk benefits to
policyholders. Notwithstanding the coverage provided in terms of the policy,
the additional risk management benefits further enhance the Camargue product
offering and go beyond simple insurance. The overall result is a well-rounded
and complete solution to the risks faced by businesses.

Risk Management Services included in the
Policy cover:

• Private Arbitration Services  
  Offered through TOKISO Dispute Settlement – this service works towards fast, equitable resolution of disputes between the insured and their clients. As far as possible court proceedings are avoided saving time, money and more importantly reputation.
• Contract vetting and assessment with a particular focus on the CPA
• CPA Workshops for sales and customer service staff
• A commercial law help-line dedicated to CPA and other spheres of litigation
• Industry specific quality control and assessment services (Security, Agriculture, Food and others)
• Crisis Communication  
  Skilled support in managing public relations crises and avoid online media disasters
• Cyber Vulnerability Scan (CVS) - A vulnerability scan is an inspection of the potential weaknesses in the security of a computer network. The CVS only requires the details of your externally facing internet protocol (“IP”) addresses, in order to examine for known vulnerabilities. Therefore it sees only what an outside intruder would see (like your locks, alarm and motion detectors) and tests the perimeter security – with no work required by you. Download our CVS Brochure here.

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Important Documents:

Important Notice:

Please save the fillable PDF Proposal Form to your desktop before inserting information. If the proposal form is not saved accordingly, some information may be lost.

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