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Professional Indemnity Insurance
Best way to safeguard your business
Professional Indemnity Insurance Policy
Professional Indemnity Insurance is a type of business insurance that covers the insured against damages to the Third Party in respect of errors and or omissions on the part of the Insured whilst rendering professional services.
The policy covers the insured against damages to the Third Party in respect of errors and or omissions whilst rendering professional services.
It covers sums arising out of claims first made in writing against the insured during the policy period.
The cover includes legal costs and expenses incurred with our prior consent.
It shall not be permissible to issue any PI Policy with unlimited liability.
The ratio of limit of indemnity any one accident to any one year shall not exceed 1:4.
The maximum LOI we can offer is INR 35 Crores.
The proposal form needs to be filled for buying the policy.
Companies that do not have a registered office in India (except for subsidiary operations of an Indian insured) or Companies whose turnover from US/Canada operation are > USD 15 million or 15% of their total turnover.
Educational institutes, colleges, etc. for the PI of trainers, teachers, professors, etc.
Medical practitioners, Hospitals, Clinics, Laboratories, Lawyers, CAs, etc.
Genetically modified organisms.
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