Selecting Professional Indemnity Cover

When deciding what limit to take, you should consider:

• Type of work undertaken. Commercial, Residential, Govt
• Size of client and ability to fund litigation against you.
• Value of the projects undertaken.
• Complexity of the projects undertaken.
• Size of your practice – the number of staff and the amount of project work.
• Contractual obligations that specify a limit of indemnity and period of time

Remember that you could be the subject of more than one claim during a policy year and the potential accumulation of claims losses should be part of your consideration when selecting an indemnity limit, not just the limitation of liability under a single project engagement.

Quotations for higher levels of indemnity beyond your existing limit can be provided at any time during the insurance period. The pricing difference to increase your cover may not be as much as you think, so we encourage you to get a quote for a higher limit.

The policy provides one reinstatement of the Limit of Indemnity i.e. the indemnity limit you choose is for any one claim and twice that limit will be available for all claims in the insurance year (subject to any sub limits and policy conditions). Example: $1,000,000 any one claim during the period of insurance up to $2,000,000 in total for all claims during the period of insurance.