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Cover
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Professional Indemnity Insurance
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Geographical Limits:
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Worldwide excluding United States and Canada
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Limit of Indemnity:
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Layer One:
A limit per insured
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Up to £3,000,000 being the maximum
collectable from the Insurer during the 12
month Period of Insurance, including costs
and expenses.
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Layer Two:
A shared limit available to all members who purchase Layer One insurance.
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£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.
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NB This shared layer is now available to "Engineers" or
Other Professionals.
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Minumum Excess:
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£ 250 each
and every loss including costs and expenses
(for members with an annual turnover of up
to £50,000) or to be agreed by Insurers
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£ 500
each and every loss including costs and expenses
(for members with an annual turnover of up
to £100,000) or to be agreed by Insurers
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£ 1,000
each and every loss including costs and expenses
(for members with an annual turnover of up
to £250,000) or to be agreed by Insurers
For
those members with annual turnover in excess
of £250,000 Insurers will set an excess
according to individual Insured's exposure
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Conditions:
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Premium deemed earned at inception.
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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."
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Extensions:
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Breach of Copyright
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Breach of Confidentiality
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Loss of Documents
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Data Protection Act
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Pollution Extension (Additional Premium required)
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Libel and Slander
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Including Sub Contractors (Additional Premium
required)
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Exclusions:
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Matters known prior to inception
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USA and Canada Exclusion
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Year 2000 Exclusion Clause
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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.
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Insurer:
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MMA Insurance plc via Saturn Professional
Risks Ltd
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