Professional indemnity insurance
A valuable new feature added to the Register's expert witness insurance scheme
In light of the Jones -v- Kaney ruling (read full decision), it was clear that adequate professional indemnity insurance cover would become more or less essential for experts. Working with Lockton Companies LLP, we put together the UK Register of Expert Witnesses Professional Indemnity Insurance scheme, insured by RSA and underwritten by Mapledown (a subsidiary of Lockton). It was created specifically to offer insurance for expert witness work.
The UK Register of Expert Witnesses Professional Indemnity Insurance scheme can be taken out to provide additional cover if you already have insurance in place for your non-forensic work, or to offer new cover if your work is entirely forensic. Alternatively, if you wish to obtain cover for all your work, forensic and otherwise, this can be considered too on a bespoke basis.
Now there’s a valuable additional feature to the scheme: the option to buy a single runoff policy when you retire from active expert witness work. A one-off premium, negotiated at the point of retirement, will provide 6 years’ protection against any nasty ‘sting in the tail’ claim that might arise. The policy will see most cases reach their statutory limitation period, after which, generally, no further claim can arise.
Having insurance means that the insurer will be able to manage any claims on your behalf, and in the worst case settle the claim should that become necessary. In other words, any claim against you no longer needs to deflect you from productive work, or keep you awake at night!
This scheme is exclusive to members of the UK Register of Expert Witnesses and provides cover from £500,000 upwards. Visit www.jspubs.com for full details.