What is an aggregate limit of indemnity? 'Aggregate' limit of indemnity is a term...
Insurance Glossary
What does 'Any One Claim' mean? Any One Claim (also referred to as 'Each and...
What is Civil Liability? Civil liability is the legal responsibility for a payment to an...
What does 'Claims Made' mean? Claims Made is a term used to describe an insurance...
What is a Collateral Warranty? Collateral warranty is a term to describe a document normally...
What is a policy excess? The 'excess' is the first portion of a professional indemnity...
What is the Financial Conduct Authority? The Financial Conduct Authority (FCA) is...
What does an Insurance Broker do? An Insurance Broker is an insurance...
What is insurance premium tax? Insurance Premium Tax (IPT) is a mandatory UK government...
What is Limit of Indemnity? The Limit of Indemnity (LOI) is the maximum amount...
What is a Managing General Agent? A Managing General Agent or MGA is a specialised...
What is a Material Fact? A Material Fact or material information is any fact which would...
What is Non Disclosure? Non Disclosure is a term which refers to a failure by an...
What is Partner's Previous Business? Partner's Previous Business is an...
What is Professional Negligence? Professional Negligence is conduct, or a failure...
What is a Proposal Form? The Proposal Form is a questionnaire sent by an...
What is does 'Qualifying Insurer' mean? 'Qualifying Insurer' or ...
What does reservations of rights mean? A Reservation of Rights is a notification...
What does 'Retroactive Date' mean? The term 'retroactive date' ...
What does 'Statement of Fact' mean? Statement of Fact is a term used...
What is a subjectivity? A subjectivity or subjectivities is an outstanding issue which must...
What are subrogation rights? All insurance companies have subrogation rights. These rights...
Territorial limits and jurisdiction limits All professional indemnity insurance policies...
What is the Insurance Act 2015? The Insurance Act 2015 came into force in August 2016 and...
What does 'Utmost Good Faith' mean? Utmost Good Faith is a term which means...