Professional Indemnity provides cover for claims brought against the policyholder due to their professional negligence.
There are three types of Professional Indemnity wordings:
• 1 Negligent act, negligent error or negligent omission
• 2 Negligent act, error or omission
• 3 Civil liability
Negligent act, negligent error or negligent omission
This indemnifies the policyholder against loss/circumstances incurred only as a result of their negligent act, negligent error or negligent omission in carrying out the policyholders business.
This is the narrowest form of cover
Negligent act, error or omission
This indemnifies the policyholder against loss/circumstances incurred only as a result of their negligent act, error or omission in carrying out the policyholders business.
Some PI policies go further than the standard cover and provide indemnity ‘for any civil liability’. This covers such areas as breach of contract, libel and slander. (Some standard cover policies may also include libel and slander as extensions to the policy wordings if required.)
Where do we come in?
Policy holders usually consider switching their insurance cover when their policies are up for renewal.
However, if you appoint us as your Insurance Broker, we can then proceed to administrating your current insurance policies and aid you with any claim you might be currently in process with.
Then, once your policy is due for renewal, we can analyse the market for quotes and advise you which cover at which price is most suitable for you!
All this at ZERO extra cost to you.