Professional Indemnity

Please contact Fisher Insurance to discuss your Professional Indemnity requirements.

The professional indemnity market is currently in a ‘hardening’ phase, meaning insurers are being more selective with the risks they write and increasing their rates across professional indemnity portfolios.  If you have a risk that is deemed hard to place, or a claims history, it is more important than ever to partner with a broker that knows the market.

Professional or occupational indemnity insurance provides protection for businesses and their staff for negligent acts, errors or omissions in the conduct of their profession.  Cover includes indemnity to an insured for liability under competition and consumers acts and other legislation, claimants legal costs and expenses,  loss or damage to documents, breach of fiduciary duty, defamation, libel & slander, infringement of copyright or patents, fines and penalties, claim preparation costs, court attendance costs, public relations expenses.

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Professional Indemnity Insurance is arranged on a ‘Claims Made’ basis. This means that claims first advised to you (or made against you) and reported to your insurer during the policy period are insured under that policy, irrespective of when the incident causing the claim occurred.  It is important to report all incidents that may give rise professional indemnity claim to Fisher Insurance and the insurer immediately after they come to your attention.

Fisher Insurance will advise you on other important information including the broadest available professional indemnity policy coverage, continuity of cover, retro-active provisions, run-off cover, and considerations when entering contracts or engaging contractors.

Fisher Insurance – Newcastle Insurance Broker.

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