Insurance for Attorneys
What Is A Gap In Cover And The Risks?
A “gap in cover” refers to a period of time when insurance coverage is not in effect (i.e. a period in which you are NOT COVERED). It means a break or interruption in the continuity of insurance protection. During this gap, the policyholder is without the benefits and safeguards provided by the insurance policy. Key…
Understanding Prescription
What is a prescription period? Prescription is a legal principle that sets a time limit for bringing legal claims. It aims to promote legal certainty and prevent claims from being pursued indefinitely. Time Limits for Claims Different types of claims have specific time limits for prescription. It is essential to be aware of these time…
The Legal Practice Act and what this means for Advocates in particular
Many years were spent debating whether or not advocates should be allowed to approach the public directly. Historically members of the public would brief an attorney who would then approach an advocate to argue a case before a court. This was known as the “referral system”. Finally the Minister of Justice publicised the DOJ’s plans…
Why the need for TOP UP insurance?
For law firms and sole practitioners alike, it is critical that the limit of cover offered under your Professional Indemnity insurance policy is adequate for your business. We strongly recommend you review your limit to determine whether an increase in cover, beyond what may be offered by your professional indemnity fund. For attorneys this is…
What is Professional Liability Insurance and Who Needs It?
Professional liability insurance, also called professional indemnity insurance, also known as errors and omissions insurance, is a form of insurance which indemnifies professionals against claims arising out of actual or alleged negligence by the professional, instituted against them by third parties (the beneficiaries of the professional’s services). All professionals should have professional indemnity insurance. Provided the…
Advantages of Using a Brokerage with a National Footprint
In the highly competitive insurance brokerage industry, service delivery is of utmost importance. At Shackleton Risk Management (“SRM”) we are able to provide our services nationally across South Africa. With offices in Johannesburg, Pretoria, Durban, Cape Town, Port Elizabeth, Bloemfontein and Nelspruit and representation in Grahamstown, Kimberley and Mmabatho, we are able to be the…
Don’t Be Without PI Insurance
Possibly one of the worst betrayals is when a professional individual paid to look after a client’s interests, neglects their duty in a way that leaves the client physically, financially, emotionally or legally compromised – or suffering a combination of all these. Professional negligence is a breach of the duty of care between a professional…
Impersonation Fraud
Impersonation fraud is becoming the number one risk for legal practices, particularly conveyancing firms and can result in firms and their clients losing hundreds of thousands of rands. Impersonators prey on the fact that clients choose to communicate with their attorneys by email. This has many advantages as it is fast, convenient and hassle free…
Why Shackleton Top-Up Indemnity Insurance for Professionals?
WHY SHACKLETON TOP-UP INDEMNITY INSURANCE FOR PROFESSIONALS? The limit of professional indemnity cover for negligent acts, errors or omissions committed by legal practitioners offered by the AIIF is limited in its amount annual and scope. The limit is determined by the number of directors of the firm meaning the smallest amount of cover is offered…
Drawing a Distinction Between Liability as a Surety and Liability as a Surety and Co-Principal Debtor
When you agree to act as a surety, you might also take on the role of a co-principal debtor. Without a clear statement of this additional responsibility, interpreting the terms of the suretyship and the context is necessary to determine if you’re committing as both. So, what’s the importance of these roles? Agreeing as both…