Professional Liability – Errors & Omissions548

The PI policy protects the insured against legal liability to pay damages to third parties as a consequence of errors or omissions committed in the course of the business. The policy will also cover legal costs. Wordings are available for different professions including Accountants and Auditors, Engineers, Architects, Insurance Professionals, Medical professions and others. Some areas of exposures that may be addressed by the policy are:

 

  •   Negligence – breach of duty of care
  •   Intellectual property - unintentionally infringing on others’ copyrights, trademarks etc
  •   Loss of documents / data – clients’ records which could be lost, stolen or damaged.
  •   Libel and slander
  •   Breach of confidentiality