Services
Ensure design, advice, certification, project management and all fee-earning activities are disclosed.
COMMERCIAL INSURANCE SOLUTION
Professional indemnity insurance
Advice, design and professional services can create financial-loss allegations long after the work is completed. We help businesses align the policy with the services they actually provide.
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WHO IT MAY SUIT
Consultants, designers, advisers, technology providers and businesses whose services can create a client's financial loss.
Requirements may arise from legislation, professional bodies or contracts. The insurer needs a clear description of services, qualifications, customers, contracts and quality controls.
WHAT WE REVIEW
- 01Complete service description
- 02Qualifications and experience
- 03Turnover by activity and geography
- 04Largest contracts and customer types
- 05Subconsultants and contract terms
- 06Claims, complaints and circumstances
PRACTICAL COVER REVIEW
Claims-made cover depends on continuity and timely notification.
The current policy is commonly the one asked to respond when a claim is first made, subject to the retroactive date and notification terms. Gaps can be difficult to repair later.
Continuity
Protect the retroactive date and avoid unintended gaps when changing insurers or business structures.
Notification
Report complaints, demands and known circumstances promptly in accordance with the policy.
WHY THE DETAILS MATTER
The description of professional services is central to the cover.
Describe the work precisely
Broad labels can miss higher-risk activities. We explain who receives the service, what deliverables are provided and whether advice, design or certification is involved.
Review contractual assumptions
Indemnities, warranties, fitness-for-purpose obligations and liability caps can extend responsibility beyond ordinary professional negligence and may not be insured.
Account for past work
Changing insurer, entity or business structure requires attention to retroactive cover, run-off needs and predecessor practices.
Separate PI from public liability
Professional indemnity generally addresses financial loss from professional services. Public liability generally addresses third-party injury or property damage. Some claims can involve both.
Cover is subject to insurer acceptance, the policy schedule, applicable policy wording or Product Disclosure Statement, limits, conditions and exclusions. This information is general and does not take into account your objectives, financial situation or needs.
COMMON QUESTIONS
Questions about professional indemnity insurance.
These answers are general. The quotation, schedule and policy wording determine the cover offered.
What is a retroactive date?
It is the date after which relevant professional work may be considered, subject to the policy. Preserving continuity can be important when moving insurers.
What does claims-made mean?
The policy usually needs to be in force when the claim is made or the circumstance is notified, subject to its terms, rather than when the work was performed.
Does PI cover contractual liability?
Not automatically. Liability assumed only because of a contract may be restricted. Contracts and hold-harmless clauses should be reviewed.
Do subcontractors need their own PI insurance?
Often they should. Your policy may address your liability arising from their work without protecting the subcontractor, and conditions can apply.
CONNECTED COVER
Look beyond one policy.
We consider how this cover interacts with the rest of your insurance program.
A CONSIDERED REVIEW
Make the policy description match the advice you provide.
We can review your services, contracts, prior work, claims history and current retroactive date before approaching insurers.
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