Professional Indemnity

What professional indemnity insurance doesn’t cover?

Criminal Acts are uninsurable as a matter of public policy. Hence, any professional indemnity insurance policy will not include any claims that arise from dishonesty or malicious acts. Losses that constitute fines and penalties as a result of criminal acts are also excluded. However, you should know that despite these exclusions, you can normally obtain a professional indemnity cover for the costs of successfully defending a criminal action.

Internal Issues are not accounted for by any professional indemnity insurance. These situations typically arise if your staff goes on strike as a result of which you cannot offer your service as promised.

Professional Indemnity cover is restricted to claims alleging financial loss arising from bodily Injury and Property Damage Claims for bodily injury and property damage are therefore excluded. Generally, such losses can be covered under General Property and Liability Insurance policies.

No professional indemnity insurance policy will include claims arising from representations made about the likely performance of the fund, or any commitment made to achieve certain returns. Moreover, any liability accepted under a contract will be excluded unless that liability would have existed even in the absence of that contract.