Cover is available to the following among others

• · Lawyers
• · Architects
• · Engineers
• · Accountants/auditors
• · Trustees (Liability)
• · Medical (general practitioners, nurses, dentists, physiotherapists)

The insured will choose a limit of cover in line with the nature of projects/contracts that they normally undertake or the size of the pension scheme funds that they manage.

The policy covers the court judgements/awards to claimants up to the policy limit.

Claim costs: We cover the costs and expenses of defending or settling a claim.

Available extensions subject to policy limits

• Loss of documents
• Libel and slander
• Losses arising from dishonesty of employees.
• Retroactive cover – This can be considered on case by case
• Reinstatement cover
•  Run off cover

Note: This is a negligence cover, and the burden proof vests with the claimant. Negligence must be proved.

Technically anyone who could be held liable for a client’s misfortune as a direct consequence of their services might want to consider professional indemnity insurance. The chances of this are greatest for legal, financial, and medical professionals, for which these categories are required by law to have professional indemnity insurance.

Professional indemnity insurance is not mandatory under the law, but, as mentioned above, the rules of some regulators and professional bodies mean it is compulsory for some professions, such as lawyers, financial advisers, accountants, Doctors, Insurance Brokers, Trustees and architects.

If an insured ceases to operate their business, then run off cover will indemnify them for any unknown claims, occurring during the period of run-off, arising from mistakes made whilst they were still in business. It does depend upon the retroactive date offered with the policy.