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ERRORS AND OMISSIONS INSURANCE

ABOUT

“Errors & Omissions” Insurance (or Professional Liability Insurance as is commonly known) can be issued in the name of the professional or an organisation. Directors, Officers, Employees and other persons for whose professional services, the insuring company is responsible are covered by this insurance policy.

Professional Liability Insurance is available to all professionals/establishments in the field of Medicine, Engineering, Architecture, Interior Decoration, Chartered Accountancy, Financial/Management Consultancy, Law, etc.

ERRORS AND OMISSIONS INSURANCE

BENEFITS

  • CHOICE OF LIABILITY LIMITS
    Policyholder can choose the liability limits for any single event and for the policy period in accordance with estimated exposure.
  • COVERS LIABILITY ARISING FROM CUSTOMERS
    Policy covers all sums which Policyholder becomes legally liable to pay as damages to their customers for any errors and omissions committed while rendering professional services.
  • LEGAL COSTS
    Policy also covers legal costs/expenses incurred and duly approved by the Insurer, maximum within limits of indemnity so specified.
  • TERRITORY AND JURISDICTION
    Territory is the place where the cause of action occurs. Jurisdiction refers to place where the suit is preferred by the affected individual or firm. Both the “Territory” and “Jurisdiction” could be either India only or anywhere in the world according to exposure.
  • “ADDITIONAL COVERS” TO SUIT REQUIREMENT
    Certain additional covers could be obtained depending upon the specific requirement of the Policyholder.
  • NOTIFICATION EXTENSION
    Claims made against the Policyholder under the Policy would be considered even if such claim is lodged with Insurer within 3 years provided the Policyholder intimates the claim immediately on receipt of notice from his customer.

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