LIABILITY INSURANCE
Want to Know a little about Professional Indemnity Insurance? Let us tell you.
Anyone providing a professional service can face lawsuits if a third party suffers a loss due to negligence. Professional services include any work that requires special skills, such as advice, design, or consulting.
Professional Indemnity Solutions
Often called PI insurance, professional indemnity protects businesses financially after negligence or damage claims by third parties, ensuring their safety and survival. At XINIX, we provide a variety of customised solutions to meet the unique needs of your professional industry, ultimately offering peace of mind that you solely deserve.
Some of the covers available
Defamation
Defects in Contract Works
Employee Dishonesty
Loss of Documents
Public Liability
Statutory Defence Costs
Wrongful Arrest
Get in touch with us today to learn more about the insurance solutions and discover how you can help protect your aviation operations.
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INSURANCE SOLUTIONS
Available Products
Professional indemnity
Legal liability insurance that covers defense costs and damages from the insured’s professional services anywhere in the world, except North America and its territories. This covers claims from third parties who say the insured caused a loss due to neglect, error, or omission.
Public Liability
Covers the insured for injuries to third parties or damage to their property.
Defamation
Coverage is provided for claims resulting from alleged unintentional defamation of a third party by the insured while performing their professional services.
Employee Dishonesty
An extension to a professional indemnity policy that covers legal defense costs and damages from the dishonest or malicious actions of any employee. This extension does not cover actions taken by a director, partner, or principal of the insured.
Loss of documents
Legal liability for the costs of restoring or replacing lost or damaged documents belonging to third parties.
Wrongful Arrest
Cover claims against the insured for wrongful arrest committed while performing their professional services.
Defects in Contract Works
An extension to a professional indemnity policy that helps cover the costs of redesigning and fixing contract work before handover, due to professional negligence that would be covered by the PI policy.
Statutory Defence Costs
Covers legal costs and expenses for the insured in defending against criminal charges for allegedly breaking any laws.
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Professional Indemnity
Professional Indemnity
Can Professional Indemnity insurance be customized for different professions?
What is Professional Indemnity (PI) insurance?
Professional Indemnity insurance provides coverage for professionals against claims of negligence, errors, or omissions in the services they provide, protecting them from financial losses resulting from lawsuits and claims by clients.
Who needs Professional Indemnity insurance?
Professionals such as consultants, architects, engineers, accountants, lawyers, and medical practitioners need PI insurance as it is often a regulatory requirement and essential for protecting against claims of professional negligence.
What types of claims are covered under Professional Indemnity insurance?
PI insurance covers claims related to negligence, errors, omissions, misrepresentation, breach of duty, and other wrongful acts committed during the course of providing professional services.
What factors affect the cost of Professional Indemnity insurance?
The cost is influenced by the type of profession, the level of risk associated with the services provided, the coverage amount, the claims history of the professional, and the size of the business.
Are there any coverage limits for Professional Indemnity insurance?
Yes, PI policies typically have coverage limits, which can be on a per-claim basis and an aggregate limit for the policy period. It’s important to choose limits that adequately protect against potential claims.
What is not covered by Professional Indemnity insurance?
Common exclusions include intentional wrongdoing, fraudulent acts, claims arising from bodily injury or property damage (covered by other policies), and liabilities assumed under contract unless specifically included in the policy.
Does Professional Indemnity insurance cover breach of contract?
PI insurance may cover breach of contract claims if they arise from professional negligence. However, purely contractual liabilities without any professional negligence component are typically excluded.
How does Professional Indemnity insurance handle claims related to intellectual property?
Some PI policies include coverage for claims related to intellectual property infringement, such as copyright or trademark infringement, if they arise from the provision of professional services.
Are defense costs included in Professional Indemnity insurance coverage?
Yes, PI insurance typically includes coverage for legal defense costs, including attorney fees, court costs, and other related expenses, which are usually covered in addition to the policy limits for indemnity.
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