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Home Business Business Insurance Business Insurance Partnerships & Schemes IEMA member’s Professional Indemnity Insurance cover

S-Tech Insurance Services Ltd has been working closely with IEMA and it’s members for over 20 years. As a Partner of IEMA we are able to offer the members’ exclusive cover specifically designed for professionals in the environmental industry, tailored to their needs and providing a comprehensive policy.

The S-Tech Difference

IEMA - difference

We are committed to providing a high level service and ensure that as a client, you not only get a dedicated account and claim handler but because you are an IEMA member, S-Tech will waive all their fees. In addition on-going support on insurance implications of contract terms, collateral warranties or similar issues impacting on insurance cover.

IEMA insurance in detail

The IEMA Professional Package provides cover for not only Professional Indemnity Insurance, that includes

  • Any One Claim Limit of Indemnity
  • Costs paid in addition to the Limit of Indemnity
  • An excess that does not apply to defence costs
  • Cover for Pollution and Contamination related claims up to the policy limit – subject to an aggregate costs inclusive limit and an excess applicable to defence costs
  • Cover for work carried out by sub-consultants
  • Cover for Asbestos work as an optional extension (subject to Underwriting)

Also

Cyber Liability covering:

  • Claims against you following reliance on a hacker fraudulently using your encrypted electronic signature, electronic certified e-mail or website
  • Advertising expenses
  • Up to a limit of £50,000

And

Legal Expenses covering:

  • Employment Disputes and Awards
  • Legal Defence
  • Property Protection
  • Personal Injury
  • Tax Protection
  • Counselling Services, Tax Advice Service, Redundancy Approval and DAS Business Law

This can be extended to include Contract Disputes and Debt Recovery.

Cover for Public, Products and Employers Liability and Office risks can also be included for an additional premium.

IEMA is the worldwide alliance of Environment and Sustainability Professionals. If you are not already a member as a client of S-Tech Insurance Services Ltd you could get a discount of 15% off your first year’s membership. Just quote the code S-TECH when applying.

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FAQ's

  • Professional Indemnity insurance will cover you if a mistake or error is made in providing professional advice or service to a client.

  • Professional Indemnity insurance is arranged with a Limit of Indemnity. This is the maximum the Insurance Company will pay for a claim. Usually your defense costs are covered in addition. Costs for Pollution and Contamination claims are within the limit of Indemnity. It is not possible to arrange insurance that will guarantee to meet all possible claims but the recommendation would be to arrange cover for no less than £500,000. Contractually you may find you need to arrange a higher indemnity limit.

  • A Professional Indemnity Policy is a claims made policy. The policy in force at the time a claim is made against you responds to the claim, regardless of the time the event causing the claim took place.

    If a Consultant provided advice in 2012 which gave rise to a claim being made today, it is the policy in place today that would deal with the claim rather than the policy of 2012.

  • As a Professional Indemnity Policy is on a claims made wording, cover for previous work is often called Retroactive Cover.

    The policy will have either a retroactive date which means it will cover work performed after the retroactive date or occasionally will have no mention of a retroactive date in which case it would automatically cover all the previous work.

    You should make sure that the retroactive date, if specified, covers all work undertaken since the start of your business.

    Generally, if you have arranged continuous Professional Indemnity insurance from the start of your business you will have full retroactive cover.

  • If you are a Sole Trader and retire then you should consider arranging Run Off cover to maintain protection for claims against you after your last Annual Policy has finished.

    It is difficult to advise how long cover should be arranged for but you should consider past work and anticipate the time frame for issues to arise. Bear in mind the limitation period for bringing claims in tort is 6 years from the date of the incident.

    If you sell your business it is important in the Sale Contract to establish that the purchaser of your business extends their own Professional Indemnity Policy to provide cover for all your previous work.

  • Employers are responsible for the Health & Safety of employees while they are at work. If an employee suffers an accident at work or becomes ill through their work a claim could be brought against you for compensation. There is a legal requirement if you employ staff to arrange a minimum of £5m of Employers Liability insurance; most policies will automatically provide £10m cover.

  • If you are a Sole Trader:
    No

    If you are a Partnership:
    No, unless the partnership has Employees

    Limited Company:
    Yes to include Directors and Employees
    If your business is a Limited Company employing the owner where they also own 50% or more of the issued share capital in the company,you do not require the cover.

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