Professional Indemnity
CLAIMS GUIDE
Professional Indemnity | Master Builders Insurance Brokers
Professional indemnity claims can take many forms:
- Failure to provide promised services
- Acting without proper instructions
- Negligence when rendering professional services
- Providing poor quality, incomplete, or incorrect services
- Making mistakes, oversights, or accidental omissions
- Defamation
- Breach of contact
An important feature of any Professional Indemnity
There is a “claims made” basis of cover. Essentially these forms of cover require immediate notification of:
- A claim against you or your company
- Any circumstances which may give rise to a claim under the policy.
If such circumstances are not reported to the insurer prior to expiry of the period of insurance, the insurer is not bound to provide indemnity under the policy.
In order to ensure that any entitlement to indemnity is preserved, your insurer must be advised of any incident which may give rise to a claim immediately when it comes to your attention and prior to the expiry date of the policy.
What do I need to do?
If a claim has been made against you, or there are circumstances which may result in a claim:
- Do not admit fault or liability.
- Contact your broker at Master Builders Insurance Brokers (MBIB) on 1800 150 888 as soon as possible for instruction on how to handle the claim for any of the following:
- If you are unsure on whether a matter needs to be notified to your insurer
- You receive a legal document, including a letter of demand, writ, summons, statement of claim
- Otherwise contact MBIB on 1800 150 888 as soon as possible so that we can progress your claim.
Be careful!
Any costs that you incur prior to your insurer giving permission, may not be covered under your policy. MBIB recommends limiting all costs prior to your insurer granting you permission to incur those costs.
- We will send you the appropriate claims forms for you to fill out.
- Fill out and send us back the claims forms as soon as possible after the occurrence whilst details of the incident is still fresh in the minds of all concerned.
- Our dedicated claims team will then handle your claim and be in contact with all important updates.
- In certain circumstances, your insurer will appoint lawyers to act on their behalf in defending the claim. They may ask you questions or require documentation from you. Please provide this to the lawyers at your earliest convenience.
If you require urgent legal advice, you should contact a lawyer.
However, you should note that you must continue to act as a prudent uninsured, and fight the claim as you would if you didn’t have any insurance.
