Professions Cluster

Professional Indemnity

If you’re an industry professional who gives advice in your area of expertise, as a business or individual, whether you are an accountant, architect or IT whizz, and anyone in between, you need specialist cover against third party claims. As no two businesses operate alike, our experts structure iTOO Professional Indemnity solutions to suit your needs and distinct profession. With iTOO Professional Indemnity cover you can be assured our expertise, covers all of yours.

Forms & Downloads

iTOO Accountants & Auditors Proposal Form

For individuals/companies of any size practicing or giving advice as accountants and/or auditors.

iTOO Legal Professionals Proposal Form

For individuals/companies of any size practicing or giving advice as attorneys, advocates or legal advisors/consultants.

iTOO Built Environment Proposal Form

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.

iTOO Design & Construct Proposal Form

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.

iTOO Motor Dealers F&I Proposal Form

For Motor Dealers of any size giving advice on financial and insurance products to their clients when purchasing a vehicle.

iTOO Multimedia Proposal Form

For individuals/companies of any size practicing or giving advice in the media industry.

iTOO Outsourcing Proposal Form

For individuals/companies of any size providing any type of outsource services.

iTOO Single Project PI Proposal Form

For individual or groups of Consultants in the building industry who require PI for the entire Project team on a project.

iTOO Technology Proposal Form

For individuals/companies of any size operating in the Tech space.

iTOO Telecommunications Proposal Form

For individuals/companies of any size operating in the telecommunications industry.

iTOO Underwriting Managers Proposal Form

For individuals/companies of any size operating as UMA’s.

iTOO Miscellaneous Proposal Form

We don’t believe in forcing you into a box, if nothing else fits, complete this form to get a quote.

Proposal Checklist

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

Why iTOO?

Professional service. Professional expertise.

iTOO Professional Indemnity offers bespoke policies that are structured to protect you financially against any actual or alleged negligence, errors or omissions in the scope of your business by not only covering damage awards, but also the costs incurred in defending you. Our policy also protects you against indirect or consequential losses, fraud by your employees and a host of additional extensions to suit your business practices.

We are different

Our policies are exclusively designed just for you by Professional Indemnity Specialists, so 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.

We are flexible in applying our expertise to find solutions for non-traditional business environments that also have professional indemnity exposures.

Claim examples

Scenario

An employment agency fails to do the proper background checks before placing a candidate.

Scenario

Negligent project management that causes cost overruns.

Scenario

An estate agent gives house keys to a potential buyer without carrying out proper checks. The potential buyer turns out to be a con man who strips the house of all its valuables.

How to get cover

All iTOO business has to be done via independent brokers so please ask your broker to contact us if you would like to get a quote for your Professional Indemnity cover. If you do not have a broker and would like us to recommend possible FAIS registered brokers trained in our products, please fill in your details on our Find a Broker page. If you are a broker and would like more detail about our cover, please contact one of our product experts, whose details can be found here.

How to claim

Simply send us an email detailing your claim and our claims department will contact you for specific details.

011 351 5000 or ITOONewClaims@itoo.co.za

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.

Professional Indemnity Contacts

FAQs

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 subcontractors work, as you have appointed them and are responsible for what they do for you and consequently your client. As your client has no contract with them, 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 subcontractors extension to include cover for your liability flowing from such relationships. Very important however, is 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?

Yes you can be covered under your PI if you include a Joint Ventures extension. You will be covered for your participation in the Joint Venture and it must be made clear that the Joint Venture as a group 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?