
iTOOsday: June 2020TOO Recap
PROFESSIONAL INDEMNITY: PRODUCT OVERVIEW If you’re an industry professional who gives advice in your area of expertise, as a...
Professions
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.
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
iTOO Professional Indemnity protects you financially against any actual or alleged negligence, errors or omissions in the scope of your business.
Clever insurance for clever people
Professional service. Professional expertise.
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.
For individuals/companies of any size practicing or giving advice as accountants and/or auditors.
For individuals/companies of any size doing design or giving advice as Engineers, Architects, Quantity Surveyors, Project Managers, and any other professional or consultant in the building industry.
For individuals/companies of any size doing design or giving advice as engineers who also may have exposure to contractors rectification risks due to supervision or oversight.
For individuals/companies of any size practicing or giving advice as attorneys, advocates or legal advisors/consultants.
We don’t believe in forcing you into a box, if nothing else fits, complete this form to get a quote.
For Motor Dealers of any size giving advice on financial and insurance products to their clients when purchasing a vehicle.
For individuals/companies of any size practicing or giving advice in the media industry.
For individuals/companies of any size providing any type of outsource services.
For individuals/companies of any size operating in the Tech space.
For individuals/companies of any size operating in the telecommunications industry.
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.
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.
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.
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.
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.
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:
PROFESSIONAL INDEMNITY: PRODUCT OVERVIEW If you’re an industry professional who gives advice in your area of expertise, as a...
Protecting professionals from third-party claims.
Is your client an Engineer, Architect, Accountant or Lawyer, or are they experts in their field who people rely on...