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To make a claim against my PI insurer

To make a claim against my PI insurer

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Following on from my question a few months ago about me not filing a client's 13/14 TR (sorry my client not telling me she that another firm filed in an SA1, and her not telling me she was getting reminders from HMRC at all until 3 March - so it was all my fault?!) - please see my question.

Well the first appeal was rejected.

And now the "refer to a reviewer" has today failed too. 

Penalty at £1,000 which overall I can accept some responsibility for.  But about a month ago I realised this is what insurance is for?!

Leaving aside that I have failed to notify insurer immediately on any circumstance, I wonder on opinions on whether to just pay the £1,000 and swallow it, or make a claim and see premiums increase. How much would they increase by? Currently paying £300 plus IPT for insurance.

Any thoughts?

Replies (6)

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By cheekychappy
05th Oct 2015 16:29

If you were not engaged to complete your clients SATR, I cannot see a reason why your insurers would entertain the claim.

I would perhaps offer to pay 50% and the client to pay the other 50% to get it resolved.

 

Having never had a PI claim against me I have no idea what the increase would be.

 

 

 

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Hallerud at Easter
By DJKL
05th Oct 2015 16:36

Do you have an excess?

Do you have a policy excess; if a high excess claim may be pretty much pointless once you factor in admin/hassle/costs?

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Glenn Martin
By Glenn Martin
05th Oct 2015 16:47

I wouldn't Claim on your PI

Do something on lines of what Cheeky Chap suggests and offer to pay if you are not totally to blame or offer to do this years for free maybe. 

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Replying to Anonymous.:
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By HeavyMetalMike
05th Oct 2015 16:59

Thank you.

Noted- yes at 31 Jan I didn't act / wasn't engaged / they weren't on my client list.

But the husband's company is and that pays over 3K each year so I don't want lose. Client already said if I don't pay all of it then they will leave.

The first £100 was not my fault. But the additional £900 is all my responsibility (as I said the £100 wasn't due, appealed, rejected, and THEN filed it before 31 July).

I've spent/wasted enough time on this already so maybe no best to use insurance....

 

Oh well, I'll just hope I get a new £1000 fee soon then?

thanks

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By meadowsaw227
06th Oct 2015 07:32

Blackmail

As soon as someone threatened to leave my practice or else they would get a "Dear John"" letter from me.

The size of fee irrelevant.

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By madhumorjaria
06th Oct 2015 11:14

I would..

If you are concerned about the fee, I would ask the client to settle the fines directly, and then you can knock the fines paid against the fees

 

I have a friend whose client threatned something similar (i.e. if you dont pay the fine, we will leave) and my fiend paid, and the client left anyway!

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