Indemnity insurance definition

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Drafting a building contract/schedule of amendments—checklist

Drafting a building contract/schedule of amendments—checklist Once the procurement route and form of building contract has been selected (see Practice Note: Choosing the right procurement method—construction projects) the employer should consider the following matters and incorporate the appropriate drafting in the building contract particulars and schedule of amendments. This Checklist assumes that the parties are using a standard form of building contract, such as a JCT form, and that the employer is proposing the first draft including the completed contract particulars and a schedule of amendments, which amends the standard terms. This list is not exhaustive, however, and there may be other project specific matters/risks that need to be taken into account: Contractual matters • Carry out due diligence on the contractor The employer needs to carry out due diligence on the contractor at the outset to determine whether its financial position is acceptable. Confirm the contractor’s company number and name at Companies House. • Obtain consultants’ details Confirm the full details of the consultants engaged by the employer; some...

Key provisions in a consultancy agreement—checklist

Key provisions in a consultancy agreement—checklist This Checklist sets out the key provisions to consider in a consultancy agreement. This Checklist highlights issues which are relevant to the customer, issues which are relevant to the consultant and issues which are relevant to both parties for inclusion in a consultancy agreement. This Checklist will assist both the consultant and the customer when reviewing and negotiating a consultancy agreement. See also: Taking instructions for a consultancy agreement—checklist. For Precedent consultancy agreements, see: • Consultancy agreement—company and individual—pro-client • Consultancy agreement—company and company—pro-client • Consultancy agreement—individual and company—pro-consultant • Consultancy agreement—company and company—pro-consultancy • Consultancy agreement—company and individual—pro-client (short form) • Side letter to consultancy agreement—company and company—pro-client For further related guidance, see: Consultancy services—overview and Practice Notes: • Managed service companies and the anti-avoidance legislation • Deciding appropriate employment status • Personal service companies—the key benefits and key tax considerations • Securing intellectual property rights from employees and contractors • IR35—the large and public client off-payroll regime—practical considerations for the end client...

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Personal data breach management—workflow

Personal data breach management—workflow This Flowchart illustrates how to manage a data protection breach under the UK General Data Protection Regulation (UK GDPR). It reflects reporting and recording requirements under the UK GDPR together with data breach management guidance issued by the Information Commissioner's Office (ICO). It maps out a process, providing guidance and links to relevant precedents for each stage of that process. It can also be used for cybersecurity breaches. See Precedents: Personal data breach plan, Data breach report form—internal and Data breach assessment and action plan, which guide you through each stage of this workflow. Note 1—assemble data breach team The first step is to assemble your data breach team. Consider who within the organisation would be best placed to react swiftly to the breach and who should be involved with the subsequent investigation. This will often involve input from specialists across the business such as IT, HR and compliance/legal and, in some cases, contact with external stakeholders and suppliers. Precedent: Personal data breach plan encourages...

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Discharge for trustees on pension scheme wind-up

THIS PRACTICE NOTE APPLIES TO REGISTERED OCCUPATIONAL PENSION SCHEMES IN WIND-UP (EXCEPT THOSE ENTERING THE PENSION PROTECTION FUND)A key aspect of the winding-up process as it relates to occupational pension schemes is the need to ensure that, as far as is possible, the process permits the discharge of the trustees of the relevant pension scheme from further responsibility in respect of the scheme and its assets and liabilities. There are a number of steps that trustees can take to achieve this.For information about ways to protect trustees from liability in an ongoing scheme, see Practice Note: Trustee liability and protection in pensions.Statutory dischargeWhere the pension scheme is being wound up and is a scheme to which s 73 of the Pensions Act 1995 (PA 1995) applies (eg a registered defined benefit occupational scheme), a statutory discharge may be available to the trustees pursuant to PA 1995, s 74 and the underlying Occupational Pension Schemes (Winding Up) Regulations 1996, SI 1996/3126 (the Winding-Up Regulations).In particular, PA 1995, s 74(2) provides that...

Trustee liability and protection in pensions

FORTHCOMING DEVELOPMENT: The Pensions Dashboards (Prohibition of Indemnification) Bill is a Private Members' Bill which was presented to Parliament on 20 June 2022 when it had its first reading in the House of Commons. The Bill was published on 13 July 2022 and is making its way through Parliament. The main aim of the Bill is to increase protection for pension savers by making it a criminal offence for pension scheme trustees or managers of an occupational pension scheme to reimburse themselves out of the assets of the pension scheme in respect of penalties imposed under the proposed Pensions Dashboards Regulations. Once the Pensions Dashboards Regulations come into force, if a trustee or manager fails to comply with the Regulations, the Pensions Regulator may take enforcement action which could include a financial penalty. Where this occurs, there is currently nothing in legislation to specifically prevent trustees or managers from reimbursing themselves from the assets of the pension scheme. The proposed measure in the Pensions Dashboards (Prohibition of Indemnification) Bill would...

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Data breach monitoring record

Data breach monitoring record 1 General information Date of monitoring review [insert date] Person conducting monitoring review [insert name and job title] 2 Volume of data breaches identified and reported Review your Data breach register for the past 12 months and complete the information below. Category Over the last 12 months Suspected data security breaches [insert number of suspected data security breaches] Actual data security breaches [insert number of actual data security breaches] [Reports to [insert name of any relevant regulator or trade body]] [[insert number of reports sent to relevant regulator or trade body]] Reports to the ICO (involving actual or suspected data security breaches) [insert number of reports sent to the ICO] Data subjects notified of actual or suspected data security breaches [insert number of data subjects notified of actual or suspected data security breaches] Reports to the police (involving actual or suspected data security breaches) [insert number of reports sent to the police] Insurer notifications (involving actual or suspected data security breaches) [ Professional...

File note—insurance demands and needs—law firms

File note—insurance demands and needs—law firms 1 Client’s demands and needs What risk does the client need to insure and why? [Describe the risk the client needs to insure and why] What checks have you made to establish whether the client has existing insurance that may cover this risk? [Describe the checks you have made to establish whether the client already has insurance or other indemnity that may be suitable, eg under their household insurance policy or via a trade union] 2 The recommended insurance Name of proposed insurance provider What type of policy are you recommending? [Insert, eg Title indemnity insurance] How much is the premium or how is the premium calculated? [Insert amount or formula] Is this a one-off premium or are renewal/staged premiums required? When and how is the premium required to be paid, eg up front or deferred to conclusion of matter? Is a credit arrangement available for the premium[, eg a consumer credit agreement]? Is the premium self-insured ie,...

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What are the key considerations when a firm contracts with an appointed representative?

What are the key considerations when a firm contracts with an appointed representative? BREXIT: 11pm (GMT) on 31 December 2020 (‘IP completion day’) marked the end of the Brexit transition/implementation period entered into following the UK’s withdrawal from the EU. Following IP completion day, key transitional arrangements come to an end and significant changes begin to take effect across the UK’s legal regime. This document contains guidance on subjects impacted by these changes. Before continuing your research, see: Brexit and financial services: materials on the post-Brexit UK/EU regulatory regime. Contracts and appointed representatives Chapter 12 of the Financial Conduct Authority (FCA)'s Supervision Manual (SUP 12) and the Financial Services and Markets Act 2000 (Appointed Representatives) Regulations 2001, SI 2001/1217 (Appointed Representatives Regulations) contain specific provisions on the contractual requirements which a firm (referred to as a principal) should adhere to when entering into contractual arrangements with an appointed representative (AR), introducer appointed representative, tied agent or EEA tied agent. Steps The following steps will assist in the process of assessing and appointing the...

Where an estate beneficiary is missing and they cannot be located despite the efforts of a genealogist, and indemnity insurance has been obtained, can the inheritance be paid into court? Do you have any guidance and precedents, ie claim form, witness statement on this?

Where an estate beneficiary is missing and they cannot be located despite the efforts of a genealogist, and indemnity insurance has been obtained, can the inheritance be paid into court? Do you have any guidance and precedents, ie claim form, witness statement on this? This Q&A refers you to the following content you may find helpful in your research • Practice Notes: ◦ Missing beneficiaries and intestacy with no surviving relatives, in particular, under main heading 'Tracing known but missing beneficiaries', see the section titled 'Paying funds into court' ◦ Personal representatives—protection and

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Tax weekly highlights—22 May 2025

This week's edition of Tax weekly highlights includes: (1) the Court of Appeal decision in Impact Contracting Solutions, (2) regulations being made to increase penalties for late payment of tax, (3) an ex-solicitor being given the first individual tax avoidance stop notice, and (4) News Analysis articles being published about the decisions of the First-tier Tax Tribunal (FTT) in Industria Umbrella and Powell.

Keep the lawyer in the loop—commentary on the new CIArb AI Guideline

Arbitration analysis: The only useful discussion regarding AI is a practical discussion. That is because abstract AI hype causes collective fatigue and audiences switch off. I therefore welcome the new Guideline on the Use of AI in Arbitration (2025) (‘Guideline’) by the Chartered Institute of Arbitrators, which takes a commendably practical approach, all the way to providing draft agreements and procedural orders for the use of AI in international arbitration. Written in partnership with Hanna Roos, arbitrator and counsel, and founder and CEO of Aavalynx and Aavagard.