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Secure Your Professionals

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Professional Indemnity Insurance is crafted to sheild professionals and businesses against financial losses arising from allegation of negliance, errors or omission in their services.

Professional Indemnity

Exclusions

  • War, Invasion, Act of foreign Enemies – Professional Liability insurance policy does not cover losses resulting from war, invasion, act of foreign enemies, civil unrest, government action or related actions.
  • Known or reasonably Foreseeable Situation or Incident – Situation or incidents that the insured knew about or could have reasonably foreseen at the start of the professional liability insurance Policy.
  • Previously Reported Situation or Incident- Situation or incident that have been reported under any other insurance before the start of this policy are excluded from professional indemnity cover.
  • Fines & Penalties – the professional liability insurance policy does not cover fines, penalties, punitive damage, exemplary damage, treble damage, or any other damage that exceed compensation damage or are uninsurable by the law of Land.
  • Losses from Specific substances & disease – losses arising from such as asbestiform talc, immune deficiency syndrome are not covered.
  • Losses due to prohibition act or omission – the policy does not cover losses caused by dishonest, fraudulent, criminal, malicious. it also exclude losses resulting from violation of law or ordinance, as well as services provided while under the influence of intoxication or narcotics.
  • Insolvency or Bankruptcy – any claim resulting from insolvency or bankruptcy of the insured is not covered under professional liability insurance.
  • General liabilities – this plan does not cover regular accident that occur outside of your work or workplace. for covering in such case General Liability insurance is required. 

Professional Indemnity

Tail Reporting Coverage

tail reporting cover is an add on that the insured can purchase along with professional indemnity. it is also known as extended reporting endorsement cover, which is  a type of insurance that cover the incident that occured within the tenure of indemnity insurance but were not reported until the termination of policy.

extended coverage is offered by some companies if the insurance policy remain renewed for that time. of course the extended coverage give rise to the premium which has to paid if the tail is reporting coverage needs to be used for claim.

Professional Indemnity

Who can Purchase

Professional Indemnity or Errors and Omission insurance can be availed by indivusal or companies providing professional service.

Here is a table – 

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