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Professional Indemnity

Professional Indemnity

This insurance protects professionals such as accountants, medical practitioners, lawyers or architects. 

We will cover any claim or claims made against accountants and auditors during the period specified in the policy for any actual or alleged negligent act, error or omission, for any breach of contract, any violation of warranty of authority, or any breach in trust committed in good faith.

We will indemnify accountants and auditors up to the sum stated in the schedule for any loss or losses, they shall discover they have sustained and their legal liability arising from any claim made against them during the period specified in the policy. We will cover all losses which the policyholders, in their capacity as registrars, may sustain, by reason of their having in the ordinary course of their business, dealt in or acted upon any document because of the collusion, fraud or dishonesty of any employee of the insured.

We will indemnify architects and civil engineers for any sum or sums which they may become legally liable to pay, arising from any claim or claims made against them by reason of any neglect, error or omission occurring or committed in good faith, in connection with the business or practice on the part of the insured, or any partner, or any person employed by the policyholder.

Lawyers are covered for the breach of their professional duty by reason of any negligent act, error or omission, whenever or wherever committed or alleged to have been committed, by the insured, the predecessors in business of the firm, or any person at any time employed by the insured or the predecessors, on behalf of the firm or such predecessors, of any business conducted in their professional capacity as lawyers.

We will cover medical practitioners for loss and claims expenses arising from libel and slander, in the course of rendering professional services, however we will only indemnify the insured for amounts which exceed the sum stated as the excess in the schedule, and then only up to a maximum amount equal to 25% of the limits of insurance set forth in the schedule. Such maximum amount is part of and not in addition to the limits of the policy.

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