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 "Engineers" or Other Professionals.

Minumum Excess:

£ 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

£ 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

£ 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

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

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:

Hiscox Insurance Company Limited via Saturn Professional Risks Limited (Saturn)