The Professional Compensation Policy covers indemnities derived from court rulings, defense costs, loss of documents, fees and expenses.
This policy protects professionals from legal liability for any act of negligence they may commit in the course of their duty. It does not have to be wrong to be sued, the policy will cover the defense costs of any action filed against the insured in his professional capacity.
Scope of cover;
i) judgments / court decisions
ii) defense costs
iii) fees and expenses
iv) loss of documents
The cover is available for, among others;
d) Accountants / auditors
e) Trustees (Liability)
f) Physician (general practitioners, nurses, dentists, physiotherapists)
The insured will choose a coverage limit according to the nature of the projects / contracts that he normally assumes or the size of the funds of the pension plan that he manages.
The general liability insurance does not protect your company against claims for professional negligence or failure to fulfill your professional duties in a satisfactory manner.
The professional indemnity insurance (for doctors and non-doctors) protects the business against the loss of a claim of alleged acts of negligence, errors or omissions in the performance of their professional services.
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