What happens in the event of a claim?
We will actively manage the claim for you from notification to settlement ensuring minimum interruption to your business.
Am I only covered if I am found to be at fault by the losses suffered by the claimant?
No. The Policy covers defence costs incurred in dealing with the claim, regardless whether or not you are subsequently found to be responsible.
When does the Policy have to be in force?
A Professional Indemnity Policy is arranged on a “claims made” basis, which means that the Policy has to be in force when the claim is made by the claimant.
I am currently with an existing insurance provider. How quickly can I arrange a new insurance policy?
Typically, we can arrange Professional Idemnity Insurance cover on the same working day that you contact us. We understand the importance of ensuring the smooth transition of your insurance policies and maintaining your insurance cover at all times. Therefore you can rely on our Insurance expertise and extensive knowledge of the industry to provide you with the cover you need and within your deadline.
Will I have to pay an Excess in the event of a claim?
Yes. All Policies will have excesses applicable to claims and you should ensure that you are fully aware of the amount of excess and whether it applies to costs plus indemnity or the indemnity section only.
How much cover will I need?
This will depend upon the type of work undertaken and your total exposure in the event of a possible loss. You may have a contractual responsibility for a specific sum insured imposed on you by a client or professional body.
If you have any further questions about Mortgage Brokers Professional Indemnity insurance, please contact us or call 01489 579808 today.