Area F - Practice Management Flashcards
1
Q
What is professional indemnity insurance?
A
Protects against claims for breach of professional duty or negligence based resulting in financial loss.
2
Q
What is public liability insurance?
A
Protects against claims from third party’s for injury or property damage suffered due to your business’s actions
3
Q
What is tort law?
A
A tort arises when one party breaches their obligations or duty of care to another party, resulting in that party experiencing damages.
4
Q
What is Statutory insurance?
A
Covers for unintentional breaches of statutory law. Registered Architects Act, Health and Safety etc.
