Professional Indemnity Insurance - Introduction - Searchlight Insurance Training

Professional Indemnity Insurance – Introduction

This interactive workshop is suitable for those new to the subject and looking for a comprehensive background to professional indemnity insurance.

The workshop will include an introduction to the legal and technical aspects of professional indemnity insurance.

It will look at how professionals incur liability, the cover normally provided, the risks facing various professions and a brief overview of how claims are dealt with.

Level: Introduction

Duration: 1 day(s) CII CPD Hours: 6
     

WORKSHOP OBJECTIVES

•Describe how professional liability might arise under common law, contract and statute

•Identify what types of professionals and service providers may have a professional indemnity exposure

•Outline the types of claims made against various professionals

•Describe the principal reasons why professionals should purchase professional indemnity insurance

•Outline the coverage provided by a professional indemnity insurance policy

•Outline the principal extensions and exclusions in a professional indemnity insurance policy

 

WORKSHOP CONTENT

•Duty of care owed by professionals to their clients and third parties

•Examples of professional negligence claims

•Differing professional exposures, including accountants, solicitors, surveyors and IT & telecommunications

•Professional indemnity policy – key elements of cover – operative clause – claims made considerations – main exclusions/extensions

•Factors to be considered when setting the limit of indemnity

•The underwriting process

•Claims process, including incident reporting and what is a claims circumstance

•Testing (optional)