Exposure from advice.
WHY IT MATTERS
Clients rely on your advice and claim when it causes loss.
WHAT CLAIMS TYPICALLY ARISE FROM
Missed deadlines Incorrect advice Failure to advise on a relevant matter Work outside competence Poor communication of risk Failure to document
WHY MISSED DEADLINES DOMINATE
They are objective, indefensible and entirely preventable.
WHAT TO ESTABLISH
A system tracking every deadline, with lead time.
WHY A SYSTEM
Memory and individual diaries fail.
WHAT TO ESTABLISH ABOUT COMPETENCE
That work is only accepted where the firm is competent.
WHAT TO DO OTHERWISE
Decline, or engage appropriate expertise.
WHY
Work beyond competence is where the serious claims originate.
WHAT DOCUMENTATION PROTECTS
Advice given Instructions received Options presented and the client's decision Warnings given
WHY WARNINGS SPECIFICALLY
Clients who proceeded against advice later claim they were not warned.
WHAT TO DO
Confirm significant advice in writing.
WHAT PROFESSIONAL INDEMNITY INSURANCE PROVIDES
Cover for claims arising from professional work.
WHAT TO ESTABLISH
That the limit is appropriate to the work you do What is excluded That cover continues after work ends
WHY CONTINUING COVER MATTERS
Claims arise years after the work, and cover must exist when the claim is made.
WHAT TO MAINTAIN
Cover, without gaps, including after the practice changes or closes.
WHAT TO DO WHEN A PROBLEM ARISES
Notify insurers promptly Do not admit liability Preserve the file
WHY NOTIFY PROMPTLY
Late notification can void cover.
