Professions

Professional Indemnity

If you’re a professional who gives advice, technical expertise and solutions, as a business or individual, you need specialist cover against third party claims.

  • Provides cover against any actual or alleged negligence, errors or omissions
  • Includes additional extensions like indirect or consequential losses or liability arising from employee fraud and dishonesty
  • Provide solutions specifically tailored to suit your needs and distinct profession

Why get professional indemnity cover with iTOO?

Because our policies are exclusively designed just for you by professional indemnity specialists, you can be sure that the intricacies of your profession are truly understood and covered.

We only partner with the best, so you can rest assured that your cover means you have access to the very best legal experts 24/7. Plus, we’re flexible in applying our expertise to find solutions for non-traditional business environments that also have professional indemnity exposures.

Our comprehensive offer

What's included?

iTOO Professional Indemnity protects you financially against any actual or alleged negligence, errors or omissions in the scope of your business.

Standard cover

  • Covers damage, awards plus defence costs incurred
  • Indirect or consequential losses
  • Liability following employee fraud and dishonesty

Additional extensions/benefits

  • Loss of documents
  • Claims preparation costs

350% surge in claims relating to construction risks

Clever insurance for clever people

Professional service. Professional expertise.

How to get cover

Ask your insurance broker to contact us for a quote for your professional indemnity cover. Don’t have a broker and want us to recommend possible FAIS registered brokers trained in our products? Find a broker or contact one of our experts.

These are all the things you’ll need to complete a Professional Indemnity proposal form.

  • Must be completed in full
  • Must include fees and audited financial statements
  • Must include qualifications of Principals overseeing the Professional Service of the company

Forms and documents

Professional Indemnity experts

Our team of passionate, dynamic, and talented individuals.

How to claim

You’re in the hands of an expert. You can always be assured of professionalism, quick turn around times and world-class technical knowledge. We’ll keep you in the loop every step of the way. Simply send us an email detailing your claim and our claims department will contact you for specific details.

Frequently asked questions

What does “aggregate” vs. “any one loss” mean?

An aggregate is the maximum amount an insurer will pay per insurance period. Any one loss / each and every claim allows for an unlimited number of claims, where the selected amount of cover is available per claim rather than per year.

What is a retroactive date?

Claims first made against the insured arising from work performed on or after the retroactive date as it appears on the policy schedule will be indemnified in terms of the policy. This date is normally fixed as being the date on which the cover was first taken out and would remain unaltered for the purposes of all future renewals. When cover is first taken, additional retroactive cover may be offered subject to certain conditions and additional premiums, but will not cover any known or pre-existing claims.

Can I be held liable for work I have subcontracted to someone else?

Yes, you will be held liable for a subcontractor’s work, as you have appointed them and are responsible for what they do for you and, consequently, your client. Your client has no contract with them, so your client would hold you liable for any damage the subcontractor causes. Your PI policy can respond to this liability if it is a legal liability policy and you include a subcontractor’s extension to cover your liability flowing from such relationships. However, it is very important to note that your subcontractors themselves do not have cover under your policy, and they will need their own policy to cover them when you counter-claim against them for the damages they have caused to your client.

I am entering into a Joint Venture, am I covered under my PI policy?

Yes, you can be covered under your PI policy if you include a Joint Ventures extension. You will be covered for your participation in the Joint Venture, but it must be made clear that the Joint Venture as a whole is not covered by your policy.

Do I have enough cover or not? What is enough cover?

It is impossible to scientifically calculate the correct value of cover one should procure for PI insurance, however there are several factors to consider when deciding on a Limit of Indemnity, some of these are:

  • Do you limit your liability in contract?
  • Does your client indemnify you for third party claims?
  • Do your clients require particular PI limits?
  • What is the size of the total project I am working on?
  • What is reasonably and most likely the single biggest loss you could cause?
  • What is affordable for you?
Fisokuhle Thusini
Anjana Dayah
Brenda Rhynes

Still have questions?

Can’t find the answer you’re looking for? Chat to our team.

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