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Why Obstetricians and Gynaecologists Need Medical Malpractice Insurance
Heavy workloads and frivolous claims, has changed what was once a rewarding career of helping women and saving babies. Many obstetricians and gynaecologists say litigation and the profession’s unprofitability when it comes to premiums is what is deterring them from practising. The current claims climate has unfortunate consequences for the society, poor maternal outcomes and a shortage…
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…
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…
Who Needs Business Rescue Insurance?
By now you would have heard the term “business rescue”. Chapter 6 of the new Companies Act, 2008 introduced business rescue as a legal mechanism to turnaround South Africa companies in “financial distress” or trading in insolvent circumstances. The Act sets out that this process should be opted for at the first sign of financial…
The appointment of a Tutor, when and how?
A tutor may be appointed over the estate of a minor where necessary. A child or minor is defined in the Children’s Act as meaning a person under the age of 18 years. The general rule is that minors are under disability in that the law does not regard them as capable of managing their…
Employees of Trustee’s not entitled to fees from of an insolvent estate
Employees of Trustees and Insolvent Estates: No employee of a trustee is entitled to remuneration out of an insolvent estate for services rendered by him to the estate. Nor shall a partner of a trustee be entitled to any remuneration out of the estate for services he may have rendered to the estate. Only the…
Benefits of dealing with Shackleton Risk
Some benefits you can expect when dealing with Shackleton Risk Management: There is no excess payable for attorneys in respect of the Professional Indemnity Insurance product. This excess is usually anything between R25 000 and R150 000 so in the event of a claim, this is a HUGE upfront saving for the firm. We employ…
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