Professional Indemnity Insurance – How Does It Work?

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Introduction

This class of insurance is often taken up by Engineers, Architects and Surveyors to protect their professional responsibilities. This policy is a liability cover for the insured in the event of a negligent claim made by a client.

Some basic principles of this policy will be addressed during this programme. Case studies will also be used to introduce this specialised product to participants.

 

Learning Objective

  • Understand how the PI policy is arranged and underwritten
  • Appreciate the concerns of underwriter when considering this risk.
  • Learn some special clauses such as ‘retrospective cover’ that is provided in this insurance.
  • Consider a few case studies to learn how PI claims are managed.

 

Program Duration

1 Day

 

Program Content (9.00am -5.00pm)

  • Discuss the basic coverage provided under the PI policy
  • Explain the typical professionals who can be covered.
  • Address the concerns of the underwriter
  • Review of a few case studies relating to PI claims

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