The purpose of the professional indemnity insurance is to protect a professional man against his legal liability towards third party arising from professional negligence or misconduct. Professional negligence, that is, breach of professional duty by
The policy is designed for professionals such as Accountants, Lawyers, Doctors, Insurance Brokers e.t.c.
The following underwriting factors should be noted.
Proposal form must be completed and personally signed by a principal functionary of the insured
The professional standing and competence of the principals to be covered or guaranteed must be ascertained before granting cover.
The claims and insurance history must be ascertained