Professional Indemnity Insurance Management

Participants will learn to identify the categories of professionals that may have a Professional Indemnity exposure. Participants will learn to understand how professional liability arises, the types of claims and the coverage afforded. Professional indemnity insurance provides you and your business with protection against claims for financial loss, bodily/personal injury or property damage arising from an act, error or omission in the performance of professional services

CONTENT

• The types of organisations that are susceptible to Professional Indemnity exposure
• Examples of typical claims that can be made against directors and officers
• Why professionals buy professional indemnity insurance
• Examples of relevant professional indemnity claims.
• The benefits of both directors’ & officers’ coverage
• Duty of care owed by professionals – legal liability and breach of contract

•  Negligence claims

• Indemnity or errors and omissions?

• Differing professional exposures, including:

• Indemnity and errors and omissions policy – key elements of cover:
• Principal exclusions and extensions

• Proposal and underwriting
• claims process, including incident reporting
• The duties and liabilities of directors and officers.

TRAINING METHODOLOGY

The training methodology combines lectures, discussions, group exercises and illustrations. Participants will gain both theoretical and practical knowledge of the topics. The emphasis is on the practical application of the topics and as a result participant will go back to the workplace with both the ability and the confidence to apply the techniques learned to their duties.