South African’s are becoming more and more litigious, therefore
Professionals need to ensure they protect themselves against any claims of negligence.
Brokers, Engineers, Graphic Designers, IT developers,
recruitment agencies, Private Tutors, Accountants, Lawyers, architects,
quantity surveyors, or anyone providing advice or a service to their clients in
exchange for a fee, would need Professional Indemnity Insurance.
We help protect professional advice- and service-providing individuals and
companies from bearing the full cost of defending against a negligence claim made by a client, and damages awarded in such
a civil lawsuit.
The coverage focuses on alleged failure to perform on the part of, financial
loss caused by, and error or omission in the service or product sold by the
policyholder.
These are causes for legal action that would not be covered by a more general
liability insurance policy which addresses more direct forms of harm (such as
physical damage).
Professional Indemnity insurance may take on different forms and names
depending on the profession, especially medical and legal, and is sometimes
required under contract by other businesses that are the beneficiaries of the
advice or service.
Coverage sometimes provides for the defense costs, including
when legal action turns out to be groundless. Coverage does not include criminal prosecution, nor a wide range of potential
liabilities under civil law that are not
enumerated in the policy, but which may be subject to other forms of insurance.
Professional Indemnity insurance is required by law in some
areas for certain kinds of professional practice. (for example Insurance
Brokers, such as ourselves, are required to carry PI cover in terms of the
Short term Insurance Act)
We are able to assist with Professional Indemnity for these very
specialized professions.
Simply because we understand the nature of the risk and can provide comfort to
our clients with the appropriate professional Indemnity cover.
Being
an Independent Insurance Intermediary we have access to Insurers who are able to
tailor a policy to suit our clients Individual needs.
For queries or quotes on Professional Indemnity Insurance please leave your
details on our website and we will make contact with you.
www.esbrokers.co.za