PROFESSIONAL INDEMNITY INSURANCE

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As a professional, it is your duty to take care of your client. If someday you fail to exercise your duty and neglect promises made, then you are liable for the losses incurred by the clients.

Professional indemnity insurance acts as a kind of safety net protecting you and your business from the financial claims made by your dissatisfied customers. Our policy will cover all the legal expenses to defend your status in case a negligence claim is made against you.

There are cases where you may not be at fault and still the clients blame you for negligence on your part, professional indemnity insurance will still protect you from the heavy legal charges. If you purchase professional indemnity insurance, it will protect you from such severe actions by covering claims made against you.

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Professional Indemnity Insurance is a type of business insurance that covers the insured against damages to the Third Party in respect of errors and or omissions on the part of the Insured whilst rendering professional services.

What business activities can the policy cover?

  • Architects & Engineers providing Design consultancy only
  • Management Consultants
  • Interior Decorators
  • Network Integration & Design
  • Project Consultants (Excluding construction)
  • Study & Survey associations
  • Manpower Consultants excluding Fraud & Dishonesty cover
  • Doctors
  • Finance Professionals
  • Call Centres / BPO’s
  • Financial Institutions
  • Media Companies
  • Other Professionals etc.

What are some of the major exclusions in the policy?

  • Any criminal act, fines, and penalties.
  • Services rendered while under the influence of intoxicants or narcotics.
  • General anesthesia unless the procedure is carried out in a Hospital.
  • The use of drugs for weight reduction or performance of cosmetic plastic surgery, hair transplants, and similar processes.
  • Contractual Liability, War, Nuclear Explosion, Terrorism.
  • Loss of financial nature such as loss of goodwill, loss of market, etc.
  • Infringement of plans, patent, trade name, trademark, trade secret, registered design.
  • Any dishonest, fraudulent criminal, or malicious act or omission.
  • Bodily injury, sickness, disease, death, damage to property or financial loss, and/or consequential loss unless arising out of wrongful, faulty, or inadequate design or advice.
  • Liabilities attaching under a contract of employment (Employer’s liabilities).
  • Earthquake, volcanic eruption, flood, storm, or other similar convulsions of nature & atmospheric disturbance.

Note: Please read the policy document for complete details. Multiple insurers offer varying benefits across a gambit of sum insureds.