Professionals like Engineering and other Consultants are ever exposed to legal suits due to the nature of their profession. Court cases against consultants in various fields have resulted in the awarding of huge sums of monies to claimants. In view of which such professionals revert back to insurance companies for protection against legal battles. The rate chargeable is always applied on basis on the limit of indemnity, turn over and the type of activities in which the insured is involved and is very dependent to the nature of works, risks and exposure involved.
Scope of Cover
Covers all sums which the insured becomes legally liable as damages to Third Party in respect of errors and/or omissions on the part of the Insured whilst rendering professional service, arising out of claims first made in writing against the insured during the policy period, including legal costs and expenses incurred with the prior consent of Insurer subject to the Limit of Indemnity and other terms and conditions as per the policy.