Professional Indemnity Insurance

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PostPosted: Tue Jun 05, 2012 9:04 am   Post subject: Professional Indemnity Insurance  

Hi everyone, I am James and I would like to know the nature of Professional Indemnity Insurance, discussion should involve its entitlement and criteria?

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PostPosted: Thu Jun 07, 2012 10:37 am   Post subject: PI Insurance  

SO far I have learned that it falls under the category of personal insurance because professionals do so in order to hedge damages in the course of professional conduct.

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PostPosted: Fri Jun 08, 2012 6:53 pm   Post subject:   

This is NOT a personal lines type of policy.



What you're referring to is commonly called "professional liability" coverage and is absolutely a commercial contract... not personal.



There are many forms of professional liability coverage depending on the type of business the insured is in:

Medical malpractice for medical professionals;

Directors and Officers (D&O) for corporate officers;

Errors and Omissions (E&O) for insurance folks, lawyers, etc.



And many more....



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PostPosted: Mon Jun 11, 2012 11:22 am   Post subject: PI Insurance  

Ok I thought it falls under the category of personal insurance because professionals take out this insurance for themselves to cover their professional conduct.

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PostPosted: Fri Jun 15, 2012 4:02 am   Post subject:   

Quote:
professionals . . . professional conduct
That should be a clue that this is not "personal" insurance.


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