Professional Indemnity Insurance

Summary of Professional Indemnity Insurance Policy Coverage

SHC has the right option for you when it comes to Professional Indemnity Insurance. With so many confusing options to consider, you’ll need an expert by your side to make sure you get the personalised service you need. SHC can help you with every phase of your Construction Insurance needs, including the best Professional Indemnity coverage available. When you want to minimize the risks associated with your Design and Construction process, SHC is here to help. Contact us to get started.

SHC has the experience necessary to deal with the variations for basic cover. We also have professionals that can help you understand the common terms and conditions you’ll want to know about in order to protect your business throughout the construction process. When you’re ready to join the many satisfied customers that have already taken advantage of our expertise, we’re standing by to help.

Who is covered?

The Policy is designed to cater for members of a particular profession which usually have a code of practice and minimum educational requirements. It is only recently the Insurers have accepted Project Management as it’s own risk category, previously it was considered similar to Engineers and Architects. The Insurer focuses on the qualifications and experience of Technical Staff employed when making their assessment.

The standard professional indemnity insurance policy would cover the following:

Insured named in the schedule

• Employees
• Loss arising from conduct of consultants, agents and sub contractors if under the Insured’s direction although they would not be covered themselves.
• Incoming principals arising from activities from a prior business within the same profession
• Prior corporate entities
• Merged entities
• The estate, Heirs , Legal representatives or assignees of the Insured who dies or becomes insolvent

What is the Insured Covered for?
Breach of professional duty which may arise from common law, statute law or contractual law.

Examples are:

• Breach of Duty
• Libel, slander and defamation providing it is unintentional – may be excluded from some occupations
• Unintentional infringement of copyright ,trade marks , designs , patents or plagiarism
• Loss , damage or destruction of any documents or records
• Unintentional breaches of trade practices act
• Extensions available include
• Dishonest acts of employees – Fidelity Insurance
• Employment practices liability cover covering unfair dismissal , discrimination and harassment
• Outgoing partners – run off protection for a senior staff member who has left the business

Let SHC be a part of your success. Call us now to find out the best solution to your Professional Indemnity Insurance needs. SHC experts are standing by —  Call 1300 730 073.