Commercial Professional Indemnity

Automatic Reinstatement provides for two reinstatements of the Limit of Liability for unrelated claims subsequent to exhaustion of the Policy Limit of Liability and of any excess insurance limits of liability.

Defence Costs are available in addition to the Limit of Liability.

AIG has worked hard to improve and provide an exhaustive Professional Services Description across occupation specific wordings in order to clarify the client’s specific business activities.

Reducing reputational damage by consulting with a Public Relations specialist is crucial to limiting damage to a business’s ongoing successful operation.

Under our new ProfessionalEdge policy, AIG offers access to Public Relations specialists. We let the client choose the most suitable consultant and we cover the cost. It’s that simple! (Conditions apply).

Run-off Cover is one of the most overlooked features when considering Professional Indemnity insurance for small businesses. Given the complexity and lack of understanding of claims-made policies, it is often one of the least understood.

To assist in overcoming this, AIG now provides free automatic 84 month run-off cover where there has been a Run-Off Event across most of the ProfessionalEdge product suite, subject to the client meeting certain criteria.

Our ProfessionalEdge standard covers include:

• Civil liability
• Advanced Defence Costs
• Breach of Fiduciary Duty
• Breach of Warranty of Authority
• Claims Mitigation Costs
• Compensatory Fines and Penalties
• Continuity
• Contractual Liability
• Court Attendance
• Defamation
• Extended Reporting Period
• Fraud/Dishonesty
• Intellectual Property/Confidentiality
• Inquiry Costs
• Joint Ventures
• Lost Documents
• Misleading and Deceptive Conduct
• New Subsidiaries
• Past Partner Liability
• Previous Business Name
• Privacy
• Reinstatement Limit of Liability
• Run-Off
  
• Vicarious Liability

The following industries are currently being targeted. However, other industries and occupations can still be considered upon further discussion.

Preferred Industries & Occupations

• Accountants
• Architects & Engineers
• IT Consultants
• Management Consultants
• Miscellaneous Professions
• Multimedia & Marketing Professions
• Real Estate Agents
• Recruitment Consultants
• Travel Agents
• Trades

Non-preferred Risks

• Design & Construct
• Environmental Remediators
• Financial Institutions
• Manufacturing
• Medical Malpractice
• Single Project Professional Indemnity