General Insurance · advanced
Professional Indemnity Insurance
Professional indemnity insurance: what it covers, how a claims-made policy with a retroactive date works, and how the cover is shaped for different professions.
- 01Scope & CoverageWhat professional indemnity insurance covers and for whom, why it is written on a claims-made basis, what the retroactive date and extended reporting period do, how defence costs are treated, and the usual fraud exclusion.
- 02Claims-Made BasisThe claims-made trigger in detail: how it differs from occurrence cover, the retroactive date, notification of circumstances, the extended reporting period, the stricter claims-made-and-reported form, and how gaps in cover arise.
- 03Common Professions CoveredHow professional indemnity cover is shaped for different professions: doctors, chartered accountants, lawyers, IT firms, architects and engineers, and insurance brokers, with the features that differ from one to the next.