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Professional Indemnity

 

 

Professional indemnity insurance protects you from legal action taken for losses incurred as a result of your advice. It provides indemnity cover if your client suffers a loss - either material, financial or physical - directly attributed to negligent acts

The principal of indemnity is to place the Insured in the same financial position after a loss as that which he occupied immediately before the loss.  That is the Insured does not receive 'new for old'.

The maximum Indemnity period from the date of damage and ending no later than the maximum indemnity period thereafter during which the business is affected by the damage.  The maxmium Indemnity period is the number of months required to regain pre-damage turnover, taking into account such factors as site clearance, obtaining local authority permits, and recovering lost markets.