Liability Products available
Annual Professional Indemnity:
This policy provides cover for legal liability arising out of negligence, error or omission in the performance of professional duties of various professional occupations. Cover is on a “claims made basis” and provision can be made for retro-active cover.
Project Specific Professional Indemnity:
This policy provides cover for the legal liability arising out of negligence, errors or omissions in the performance of professional duties for all engineering professionals and contractors involved in a single project, either insured by the Employer/Principal or the EPC(M) Contractor. The policy features First Party cover prior to handover and legal liability cover after handover. Provision is made for retro-active cover in respect of conceptual design work and also for an extended reporting period for a maximum period of 7 years.
Design & Construct Cover:
This policy provides cover for legal liability arising out of negligence, error or omission in the performance of professional duties of engineering contractors who undertake turnkey contracts or EPC(M) projects and includes cover for mitigating losses prior to handover. Cover is on a claims made basis and provision can be made for retro-active cover and an extended reporting period.
Priority is designed to offer professional indemnity cover, only for Category I FSPs regardless of the sub-categories of license. The policy will not satisfy FSB requirements for Category II, IIA, III or IV providers.
- priority offers indemnity from R1 million for each and every claim; with a maximum of R40 million in the aggregate.
- priority offers varying levels of deductibles from R25 000 upwards.
- priority covers Key Individuals and Representatives for negligent acts which result in a claim for damages being made by a client as well as costs incurred in preparing a defence against such claims.
- priority does not cover fines and penalties nor costs associated with regulatory inspections. Dishonest employees are also not covered.
- premiums are determined by the amount of cover and the number of representatives and support staff.
- prior cover is available on request and subject to further underwriting.
This cover is available for Allied Healthcare Professionals who cause injury to third parties’ through their professional negligence, errors and/or omissions.
Directors and Officers:
Recent amendments to the Companies’ Act, makes directors and managers liable in their personal capacity to claims for their fiduciary mismanagement of the company. Claims are usually made by Shareholders or Creditors.
The policy provides cover for the legal liability incurred by the insured, death or damage to third parties/third party property arising during the course of the insured business activities. The cover available provides for General liability, Employers liability, Foundation Failure, Products Liability and Defective Workmanship.
Cover can be provided in respect of contractor’s liability for specific/single contracts and projects on a stand-alone basis or included in an annual broadform format.
Various legislation has brought about the need to insure events – either on a once -off basis or by way of an annual policy, if there is a need to host or arrange multiple functions per year. The policy can be extended to include damage to hired or leased premises, temporary structures, spread of fire, food and drink, and emergency medical expenses. We exclude event postponement and/or cancellation.