Cover

Professional Indemnity Insurance

Geographical Limits:

Worldwide excluding United States and Canada

Limit of Indemnity:

Layer One:
A limit per insured

Up to £3,000,000 being the maximum collectable from the Insurer during the 12 month Period of Insurance, including costs and expenses.

Layer Two:
A shared limit available to all members who purchase Layer One insurance.

£2,000,000 in the aggregate including costs and expenses shared between all the members who purchase Layer One via Randell Dorling Ltd.  No one claim and or individual Insured can collect more then £1 million in the aggregate including costs and expenses.

NB This shared layer is now available to all members of PCG be they IT Contractors/IT Consultants, Engineers or Other Professionals.

Minimum Excess:

£1,000 each and every loss inclusive of costs and expenses or to be agreed by Insurers.

Conditions:

Premium deemed earned at inception.

Special condition relating to Layer Two."No claim will be paid hereon unless at the date of such notification of a Claim the individual Assured is a fully paid up member of the Professional Contractors Group or shall be fully paid up within 45 days of such notification of such Claim."

Extensions:

Breach of Copyright

Breach of Confidentiality

Loss of Documents

Data Protection Act

Pollution Extension (Additional Premium required)

Libel and Slander

Including Sub Contractors (Additional Premium required)

Exclusions:

Matters known prior to inception

USA and Canada Exclusion

Asbestos (subject to underwriting, this exclusion can be amended)

War and Terrorism (subject to underwriting, this exclusion can be amended)

Year 2000 Exclusion Clause

Retroactive date: Inception

NB 1. an additional premium to amend this date may be charged if you have not purchased insurance before.NB 2. If you have purchased Insurance before including via CFT the retroactive date will be backdated for as long as you have had continuous Professional Indemnity Insurance.

Insurer:

60% MMA Insurance plc via Saturn Professional Risks Limited (Saturn)

40% Hiscox Insurance Company Limited via Saturn

The subscribing Insurers under this contract of insurance are several and not joint and are limited solely to the extent of their individual subscriptions. The subscribing Insurers are not responsible for the subscription of any co-subscribing Insurer who for any reason does not satisfy all or part of its obligations.