Free Professional Indemnity Insurance Cover Review
According to industry research up to 90% of commercial insurance buyers don't read their policy documents. As a specialist professional indemnity insurance broker, firms will often reach out to us because they are unsure whether the cover they purchased online or from another source is fit for purpose.
That's why we introduced our free professional indemnity insurance cover review service - it's a free service and there's no obligation or commitment. We examine various coverage points and then provide our comments and any recommendations.
We help reduce the risk
If the responsibility for your firms professional indemnity insurance rests with you, a good understanding of your policy coverage is vital. In the commercial world, you are expected to know what's covered under your professional indemnity policy and perhaps more importantly what isn't covered.
Our review is free and can help remove the risk of something not being covered, or a dispute with an insurer arising. Areas of professional indemnity insurance which typically can be mis-understood leading to coverage issues include;
- 'Claims made' wording
- Business descriptions and activities
- Retro-active dates
- Cover for sub contractors
- Duty of disclosure
- Cover when acting as a sub contractor
- Collateral warranties
- Territorial and jurisdiction limits
- General policy exclusions
- Claim and claim circumstances notification periods
- Cyber incidents
Broker expertise
Your insurance broker is your expert and a fundamental part of your business support team, but ultimately it's the policyholders is responsibility to understand the scope of their cover and the policy's terms, conditions and exclusions.
For a business to find out their insurance doesn't cover them as they expected or to become embroiled in a claim dispute with their insurance company is a situation best avoided. Prevention is much better than the cure so please call us now on 0345 251 4000 for a free review of your professional indemnity insurance cover.
This guidance note is intended for information purposes only. Whilst all care has been taken to ensure the accuracy at the time of writing, it is not a reliable substitute for specific insurance advice. For advice about this topic, please contact us or your current brokers. This guidance note shall not be reproduced in any form without our prior permission. © Professional Indemnity Insurance Brokers Ltd