This class of insurance provide cover to professionals for damage which may be called upon to pay due to professional negligence or malpractice.
Types of Policies
Individual policies may be issued to the following professionals:-
- Accounts and Auditors
The accountant must know the General Principles of Company Law and the statutory requirement of auditor’s certificate. If he acts as an auditor to some concern whose books by statutory requirement must be audited, he must know the provisions of the statutes so far as they affect his duties. He will be liable for negligence if he makes statement without troubling to substantiate them.
- Architects and Engineers
Architects and Engineers must legally be liable for:-
- Incorrect advice, drawing up of plans and error inspections, designs, tenders or quantities.
- The negligent supervision of structural or other work
- Auctioneers, Estate Agents, Surveyors and Valuers
Risk involves survey of property or advice in connection with sale or purchase of property and reasonable care and skill is necessary in the services rendered.
A barrister owes a duty to the courts as well as to his client. The barrister is subject to a claim for negligence for advice given or work done negligently before a case goes for trial.
- Doctors, Dentists and Medical Auxiliaries and Opticians
Persons in this profession may be subject to a claim on the ground that they failed to use reasonable care even where the advice or treatment made is the best, there is a possibility of speculative claims made by patients who did not recover so satisfactorily or so speedily as they had expected and who imply that there is some other form of treatment provided.
- Insurance Brokers and Investment Advisers
Insurance brokers owe a duty to their clients and also to insurers when arranging insurance. They must carry out their client’s instructions and give their proper advice. Any breach of this duty may involve them in legal liability.
Pharmacists my have to attend a minor ailment on accidents in the absence of a doctor and errors of treatment may result in claims for professional negligence. They may also make errors in giving prescriptions with possible serious consequences.
While solicitors are employed as experts in the law they are subject to human error and the consequences of their mistakes can render them guilty of personal negligence and their employees may also fail to carry out instructions.
Stockbrokers can be liable for negligent advise or for their failure to execute their clients instructions.
- Hospitals, Nursing Homes and Nurses
Hospital authorities are responsible for any negligence act for matters of administration, nursing, medical and surgical treatment. Nurses are personally liable for their negligence in carrying out their skilled professional duties unless they plead to be acting under doctor’s advice or instruction etc.