Understanding Professional Indemnity Insurance: The Average Provision
Professional Indemnity (PI) Insurance provides businesses and professionals with cover for their liability for compensation arising from errors and omissions in connection with the professional services they provide to their customers.
Professional Indemnity: What Are Policy Extensions?
Cover provided under a Professional Indemnity (PI) insurance policy can vary greatly in the market. When reviewing a Professional Indemnity policy, it’s important to understand the extensions the policy provides and their application.
Professional Indemnity: Costs Exclusive vs Costs Inclusive
Professional Indemnity (PI) insurance provides businesses and professionals with cover for their liability for compensation arising from errors and omissions in connection with the professional services they provide to their customers.
Every industry comes with its own jargon and terminology, but as an insurance professional, you’ll probably agree that ours seem to have a particularly special amount of terms that are not as straightforward as they sound, or that overlap with other, similar sounding definitions.
Here at Berkley Insurance Australia, information is everything. That’s why we trust you, our Brokers, to give us as much information as possible when presenting us with any new risks or renewals.
Insurance Insight Series: The Contract of Insurance | Part 1
Whatever type of insurance your client is considering buying, there are a few things you need to be aware of as the broker. In part one of this two-part insurance insight series, we explore the steps to enter a contract of insurance and your role in each of these steps.
Why your client needs Professional Indemnity Insurance?
It is not generally designed for clients who undertake blue-collar services such as physical construction, manufacture, installation, repair or maintenance services (although tailored policies exist for construction professionals and design and construct).
What is the difference between a Letter of Appointment and a Letter of Authority?
A letter of authority gives permission for the insurance broker to collect information from insurers on behalf of their clients who currently work with another broker. An insurer will need this to release the requested policy information.