Professional Indemnity insurance: an entrepreneur’s security


Are you a professional entrepreneur with your own business? Do you own a business with other professionals working for you? Do you provide advice and other professional services to clients? Pay attention because the Professional Indemnity Insurance is a security need for your business.


What is the Professional Indemnity Insurance?
The Professional Indemnity Insurance is an insurance which is designed to protect professionals against certain risks arising out of the conduct of their business.

What kind of risks are we talking about?
It may happen that you provided your client with a misleading advice, you failed to provide a service properly or that you breached the conditions of your contract. Your client therefore decided to sue you for damages arising out of malpractice, negligence, breach of contract or other related grievances.

What does the Professional Indemnity Insurance cover?
Under your insurance, you will receive cover against the legal costs and claims for damages as contested by the client. As your insurer, we will step in to pay the legal fees of your attorney or legal representative and we will pay for the claims awarded by a court or as settled through arbitration with the client.

Who is considered as a professional?
A professional for the purpose of this type of insurance is considered as someone who practices a business in which they provide advice or a service to their clients. For example, doctors, lawyers, accountants, graphic designers, marketing consultants or any other similarly-related professions.

How do I know if I need the Professional Indemnity Insurance?
It all depends on the nature of your business. If your licensed business entails providing advice to clients, you may likely need one. A person can sue you for providing advice which resulted in monetary loss on their part or any other negligent advice which may have caused harm to come to them. If you have a signed contact with someone, you may likely need a Professional Indemnity Insurance. If you read a contract carefully, the ‘indemnity’ clause indicates how liability is decided. In fact, nowadays a client might insist that you get one as a guarantee for them as much as it is a protection for you. Clients might consider your professional business as more sound if they are comforted in the knowledge that there are mechanisms in place to recover from unforeseen losses in case there is a breach of contract.

For more information on Professional Indemnity Insurance, call us on 429 5114.

Spend your holiday like a tourist in Seychelles


By now if you have not booked a flight yet, it basically means you’re planning to stay in Seychelles this August. There’s no reason why you cannot spend a great holiday in your own country and do things a little bit differently. You will be amazed to know that there are many places that you are yet to visit. Don’t waste any more time and learn more about the gems in your own country.

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Child safety awareness


It is the nature of a child to be mischievous and a bit of an explorer really. Children’s mind are naturally inquisitive and they are very eager to learn more and can easily absorb many information. As much as they can be curious, they are also easily prone to accidents and mishaps. When it happens, you should not be so hard on yourself. What you can do is be aware of some useful safety tips to help them learn and grow in a safer environment:

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Make a plan for your uni degree!


You may now be at the stage where you are required to choose a course for your undergraduate degree. Like many other students, you are already contemplating what to choose and where to go, or whether or not you actually want to go.

It is not always easy to make these major decisions as it will set the stage for the rest of your life. Whatever course you end up with, will likely play a big role in your career path. This is why you need to give some serious consideration into your preferred career options in order for you to select the right course for yourself.

What will your degree give you?
The first thing you need to ask yourself is ‘what will a degree give you in Seychelles’. For starters, many entry-level jobs in the country are now asking for a degree. As more and more students attain their undergraduate degree, more and more jobs will require new entrants to have one. In fact, the professional environment is fast becoming more competitive, that professionals are opting for postgraduate degrees to gain an edge over colleagues and advance further in their career.

Which profession have you chosen to go into?
The course you will end up choosing will depend on the profession you have eyed up. There are many avenues for graduates to proceed in Seychelles. You may be interested in health, psychology, education, tourism, marketing, environment, banking, financial services, accounting, law, insurance, taxation, finance, trade, investment, foreign policy, architecture, engineering, construction, aviation, computing and software etc. Yes, the list is endless. Your career options are plentiful, but you may want to discuss some of your options with a career counsellor or other professionals.

Where to study?
As if figuring out what you want to do was not hard enough, you also have to decide where to study. Easy solution, the University of Seychelles is right at your doorstep. You will get a great degree by joining UniSey and, as more students join, more courses are being offered. At the age of 18, I so wanted Unisey to open because I wanted to stay home. Thankfully, it was not meant to be as I had the greatest time at an overseas university. There were many courses on offer, more diversity, new friends and greater independence. When you choose a university, you may want to consider the following: the overall ranking of the school, the ranking in terms of the academic subject, the student life, accommodations and the safety of the city/country. You should also consider your (estimated) grades as schools can have very strict admissions. Talk to other graduates about their own experiences.

Having trouble answering any of these?
You may not know at this very moment what you want to do for the rest of your life. It takes a lot of soul searching, but don’t fret too much. You should take your time and go over the different courses available and see what they have to offer. Take a look at the individual modules and you will likely find something that suited to your character. Little known secret! Not all students know exactly what they want either, mainly due to the fact that we have no knowledge or experience with the world of work. This is a great time to go on an attachment somewhere and explore if the field is right for you.

Admissions and tuition fees
University degrees have a cost and the better the school, the more expensive the tuition fees. A government scholarship can help you with the financial burden of a degree, but you may be limited in deciding on a university of your choice. Other scholarships are also available on the ANHRD website, but these are also quite country or programme specific. You may consider taking out a loan, but you may be relunctant to get caught up in long-term debt. Another avenue is through the setting up of a university fund for you by your parents. We offer the Sacos Education Plan which is a savings scheme designed to help parents meet the cost of tuition fees. Upon maturity of the policy, the full sum assured will be paid to you and you can meet the cost of your tuition fees, as well as other related costs. In the unfortunate event that your parents pass away before the policy matures, your education will still be covered.

Call us for more detail on the Sacos Education Plan!