Articles
What is Medical Negligence?
Medical means science, the practice of medicine, or medical examination to assess a person’s state of physical health or fitness. Negligence means failure to take proper care or breach of a duty of care, which results in injury or harm to a patient. When you put these terms together, “medical negligence” is the act or…
Why Obstetricians and Gynaecologists Need Medical Malpractice Insurance
Few areas of medicine combine joy, urgency and risk quite like obstetrics and gynaecology. An obstetrician may care for a patient throughout an apparently uncomplicated pregnancy, only to face an emergency during labour that requires several important decisions within minutes. A gynaecologist may perform a procedure that is clinically appropriate and competently carried out, but…
Why do I need professional indemnity insurance as a medical practitioner?
Medical practitioners make important decisions every day. You diagnose, prescribe, perform procedures, refer patients and provide advice, often under considerable pressure. Even with excellent training, careful record-keeping and a genuine commitment to patient care, an unexpected outcome can occur. Sometimes a patient believes that something should have been done differently. A complication may arise despite…
Curators Appointed in Asset Forfeiture Matters Explained
The National Director of Public Prosecutions may in terms of the Organised Crime Act 121 of 1998 Act apply to court for an order: a) restraining any person from dealing with assets which are suspected to have been acquired in connection with a crime; and b) preserving the assets until the investigation has been finalised.…
When to Notify Your Insurer of a Claim Against Your Professional Indemnity Policy?
In almost all insurance policies, the policy will contain a clause that requires notice of an event which could give rise to a claim or an actual claim to be given ‘immediately’ or as soon as possible’, but not later than 30 days. These clauses are usually inserted under the claims clause and /or in…
What Is a MOTF Insurance Claim?
What Is a MOTF Insurance Claim? An MOTF insurance claim refers to a claim made under Misappropriation of Trust Funds (MOTF) insurance, which is designed to protect legal firms from financial losses caused by the theft or mismanagement of client trust funds by attorneys or authorized staff members Who needs this cover? Attorneys who receive…
What are Court Bonds & How to Get One
A court bond is a suretyship issued by an insurer in favour of the master of the high court for the due and proper performance of the appointee’s obligations and duties towards an estate which he/she is administering. The surety being the insurance company guarantees to pay the master, the obligee, a certain amount if the executor/curator/trustee (the…
The Risk of Doing Nothing!
There is only one big risk you should avoid at all costs, and that is the risk of doing nothing It is the master’s discretion in every estate/curatorship/trust to request security from the person handling the administration of the estate/curatorship/trust. As the guardian of all estates, the master’s job is to protect estate assets from unscrupulous…
What is Professional Liability Insurance and Who Needs It?
Understanding Professional Liability Insurance Professional liability insurance, also known as professional indemnity insurance or errors and omissions insurance, protects professionals against claims of negligence, whether actual or alleged. These claims are typically brought by clients or beneficiaries of your services who believe a mistake, omission, or negligent act caused financial or reputational harm. Why Professionals…
Been Appointed as a Liquidator?
This means a company has either filed for voluntary liquidation or a creditor has placed the company into liquidation and creditors have motivated or endorsed your appointment as liquidator of the company (in liquidation) and the Master having regard to this support received from creditors as well exercising its own discretion, has requested you to…
What Is a Surety Bond? Roles, Costs, and Legal Framework Explained
In South Africa, surety bonds (also called security bonds) are often required by the Master of the High Court before estate administrators (such as executors, curators, liquidators, and trustees) can commence their duties. These bonds serve as a financial guarantee that the appointed individual will administer the estate correctly and in line with applicable legislation.…
Business Rescue vs Liquidation in South Africa
Insurance for Liquidators In simple terms, business rescue vs liquidation can be compared to rehabilitation versus shutdown. When a company is financially distressed, liquidation, also known as “winding up,” may be the best option if the company has no reasonable prospect of recovery. Liquidation occurs when a debtor company, unable to pay its debts, is…