Liability Insurance

Professional indemnity insurance protects an individual or a business in the event of a customer or client making claim for financial loss against them as a result of non-performance, breach of duty of care or error or omission, misstatement or misrepresentation or professional negligence in the course of professional service.

It’s an essential piece of armor while providing professional advice or consultancy in any capacity.

Scope of cover

• civil liability incurred in connection with the conduct of professional business including liability incurred;
• will cover legal and defense costs associated with resolving or defending a claim;
• loss of or damage to documents occurring in the conduct of the professional business insurer will indemnify the insured in respect of all costs and expenses reasonably in replacing or restoring documents;

Exclusions

Some of the basic exclusions are any claims:

1.  arising out of or in connection with abuse
2.  any dishonest or fraudulent act committed by any person after reasonable cause for suspicion of fraud or dishonesty
3. arising out of or relating to insolvency or bankruptcy of Insured