Professional Indemnity

The professional indemnity policy is the kind of policy that is availed by the professionals from different fields to cover the liabilities that may arise due to their omissions or errors. This policy is the must for professionals like medical practitioners, doctors, architects, engineers, interior designers, solicitors, advocates, lawyers, chartered accountants, counsels, management consultants and financial accountants. Even other such professionals who may be declared liable for any type of loss to the third party must also avail this policy. The medical establishments can also avail this policy to cover any type of damages caused to third party due to the errors made by the professional engaged by them. This type of policy will cover all types of legal liabilities that may arise against damages caused by the professionals at the time of rendering services. The legal liability won’t cover any types of criminal liability. The damage caused to the third party as an act of crime or violation of laws would not be covered under professional indemnity policy.

The civil liabilities of any type will be covered under this policy. The cover amount for the professional indemnity policy must be so selected that it will cover all kind of legal liabilities. The cover amount for the Professional Indemnity is usually divided into two components namely AOY cover that is any one year cover and AOA cover that is any one accident cover. The AOY limit is the total cover that will be payable in that particular year. The AOA limit is the total amount payable per accident and it will also include the defense cost. The AOA amount once paid by the insurance company would be deducted from the AOY amount. The total claim settlement amount paid by the insurance company in that particular year would in no case exceed the AOY amount. The cover amount must be decided based on the risk associated with the profession. Our experts will also help you decide the optimum cover for your profession. The optimum cover will offer you sufficient cover and at the same time keep your premium affordable.

You can get the online quotes from our website. You can also compare the policies from different insurance providers through our website. You may also apply with us online. We will ensure that your Professional Indemnity policy reaches the insurance provider on time. If the online application won’t be accepted by the insurance provider then we will submit the hard copy of the application to the respective office. You will get the policy at comparatively lower premium while applying through us.