Professional indemnity (PI) insurance can be a complex area of cover. From understanding which policy responds to a claim to protecting a client’s historic work, relatively small details can have significant implications for the protection a client ultimately receives.
We’ve brought together five practical articles covering some of the key considerations brokers may encounter when arranging, reviewing and advising clients on PI insurance.
Understanding the basis on which PI cover operates – and which policy may respond when a claim arises.
Read: Understanding claims-made and occurrence-based cover – which policy responds?
Why disclosure at placement or renewal should not be confused with notification under an existing policy.
Read: Fair presentation in PI – why disclosure is not notification
How retroactive dates can affect cover for historic work and why they need careful consideration.
Read: Retroactive dates in PI – protecting cover for past work
Why the need for PI protection may continue long after a client has stopped trading.
Read: Run-off cover – protecting clients after a business stops trading
Key points for brokers to consider when arranging, reviewing and maintaining PI cover for their clients.
Read: Practical considerations when advising clients on professional indemnity insurance
PI is not simply about arranging cover at inception. Maintaining effective protection means considering how the policy responds, preserving cover for historic work, dealing correctly with claims and circumstances, and considering future exposures as a client’s circumstances change.
At NBS, we provide professional indemnity solutions across a range of professions, supported by experienced underwriters who understand the risks involved.
Find out more > www.nbsunderwriting.co.uk/products/professional-indemnity-insurance/
Get a quote > www.nbsunderwriting.schemeserve.com/getquote/SCHEME_ID_7452
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