CABE Insurance has released a series of articles to provide you with the fundamental principles of Professional Indemnity Insurance (PII)
What is PII there to do?
"It focuses on alleged failure to perform on the part of, financial loss caused by, and error or omission of professional advice-and service-providing individuals and companies from bearing the full cost of defending against a negligence claim made by a client, and damages awarded in such a civil lawsuit."
CABE Insurance Services
Back to Basics - Article 1: "Claims Made” Cover
One of the key differences between your Professional Indemnity Insurance (PII) and most other insurance policies that your company may hold (i.e. Employer’s Liability or Public Liability), is the fact that PII cover is provided on a “Claims Made” basis.
Article 1 of the Back to Basics series will cover:
- What does “Claims Made” actually mean
- What do you actually need to refer to Insurers
- Key Points To Take Away.
Download the full document here.
To view the full series of the Back to Basics articles, please visit www.cabe-insurance.co.uk/back-to-basics/