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FICPI Conference Insurance Sean Cray Regional Manager 26 July 2008

Explore the crucial aspects of professional indemnity insurance and incorporation needs. Learn about risk profiling, coverage, and insurer expectations. Discover the key insurance considerations for effective risk management and company protection.

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FICPI Conference Insurance Sean Cray Regional Manager 26 July 2008

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  1. FICPI ConferenceInsurance Sean CrayRegional Manager26 July 2008

  2. Content Part One Professional Indemnity Insurance Part Two Incorporation and Insurance

  3. Part One Professional Indemnity Insurance • IP Australia’s Proposal • What effect will it have • When will it be introduced

  4. Professional Indemnity Insurance Continued… • Mandatory Insurance • Minimum Set Standards • What is appropriate / adequate cover

  5. Professional Indemnity Insurance Continued… • Risk Profiling • Key Considerations • Limit of Indemnity • Excess • Coverage • Exclusions • Endorsements

  6. Professional Indemnity Insurance Continued… • Insurers • What Insurers look for: • Good Risk Management • North American Exposure • Your Clients Industries

  7. Professional Indemnity Insurance Continued… • Dual Insurance • Companies who already purchase PI for non patent work (i.e. Legal Practices).

  8. Part Two Incorporation - Insurance needs • Basic Insurance needs • Why Insurance • Insurances to be considered • Professional Indemnity • Directors & Officers Liability / Management Liability

  9. Other Insurance considerations • Key Person Insurance • Succession Planning

  10. Questions

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