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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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Asbestos
(subject to underwriting, this exclusion
can be amended) |
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Terrorism
(subject to underwriting, this exclusion
can be amended) |
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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: |
60%
MMA Insurance plc via Saturn Professional
Risks Limited (Saturn) |
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40%
Hiscox Insurance Company Limited via Saturn |
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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. |
