Professional Indemnity Insurance

Who should be covered ?

If you are an accountant, architect, consultant, engineer, lawyer or designer, or earn your living by charging a fee for service, female architectyou should seriously consider taking out Professional Indemnity Insurance.


This will protect you and your business if you have made mistakes or are found to have been negligent

What is the difference between Liability Insurance and Professional Indemnity Insurance?

  Liability Insurance reimburses you AFTER any legal action has been determined        

  Professional Indmenity Insurance is designed to STOP or DETER any legal action against you         


Areas of Cover
  •  Breach of professional duty
  •  Negligent act
  •  Error or Omission
  •  Libel or Slander
  •  Loss of documents
  •  Intellectual Property
  •  Joint Venture Liability
  •  Acts, errors or omissions committed by: Consultants,     Sub-contractors & Agents
     Exclusions
  •  Fraud and Dishonesty
  •  Prior or Pending claims known to insured before the policy is taken out

Directors & Officers
Wisdom How does Professional Indemnity Insurance actually work ? The prime objective of Professional Indemnity Insurance is to protect your assets against 3rd parties taking legal action, or threatening to take legal action against you or your firm.
lawyers
You should notify the insurance company immediately you are aware of any pending litigation against your firm

This enables the insurer to engage an appropriate commercial law firm, which will liase with the potential litigant and advise that any legal action will be vigorously defended
Engineer
The object is to deter any potential litigation where possible


Professional Indemnity Insurance will
 protect you and your practice, or firm,
  from potential catastrophic loss if you
    have to defend any claims made
against your firm, or any consultants, sub-contractors or agents you may hire

It will also protect your good name which you have spent a lifetime building

 dMAC designed insurance
dMAC Designs insurance products to suit your needs

Reviewed    16  November   2017

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