Mitigating Your Risk: A Practical Guide to Insurance in Insolvency (CPD: 1.5h)
IPA Insolvency Practitioner newsletter, January 2023
- Paul Smith, CEO
- Samantha Keen, President
- Important upcoming changes to Statement of Insolvency Practice 3.1 (Individual Voluntary Arrangements)
- Ongoing monitoring of AML matters in an appointment
- HMRC update
- The Power of Diversity: The Key to Unlocking Talent in Insolvency (CPD: 4h)
- 2023 Annual Conference (CPD: 6h)
- Make savings on essential CPD with exclusive discounts on training from the IPA and our partners
- IPA examinations update
- Discounted meeting facilities from Office Space in Town (member login required to view)
- Save money on your airport parking with APH! (Member login required to view)
- Need new IT products? Claim exclusive IPA membership offers from Dell
- CPI training with BPP – special offer for IPA members (member login required to view)
- Discover the new IPA Charity of the Year
- Join the Turn2us IPA Step Challenge!
- Judicial selection: Fee paid Economist Member of the Upper Tribunal Tax and Chancery Chamber
- IPA exclusive industry update from Insolvency Insider
26th January 2023 | 12:30-14:00 | Online | CPD: 1.5 hours
Are you aware of the risks and your responsibilities when it comes to securing and protecting assets?
Being an IP carries an inherent exposure to risk. We have a number of options to mitigate our risk in any appointment, and having adequate insurance cover is one such option. But what is adequate and how do we make sure we have the right cover and the right amount in place? And what is our risk if we don’t?
In this session, the Marsh team will share their expertise, supported by the IPA’s regulatory view of current best practice and case related issues. This is a must-attend session for UK-based IPs and staff looking to protect their business in an increasingly complex and highly regulated landscape.
In this session we will consider:
- The IP’s bond: statutory requirements; putting it in place; adequacy; risks
- Fidelity insurance; professional indemnity insurance; PII run off cover when ceasing to act or transferring firm
- Pre-appointment: what you should ask; pre-appointment insurance-related planning
- Asset cover: open cover; asset insurance
- Post- appointment: what cover do you need and have you got it; impact of insolvency on existing cover
- Trading on: employer liability; public liability, credit insurance; warranties
- Making a claim
- How these requirements impact on your day to day work and how you can mitigate against potential claims.
As always, participants have an opportunity to contribute to the discussion and ask questions on the day.
With thanks to our sponsor: