Professional Indemnity Insurance
Protect yourself should a negligence claim be made against you.
In the event that a professional service provider causes a loss, he or she is liable in law to compensate the clients and third parties affected. Normally the victim would have to establish negligence on the part of the service provider in order to succeed in a claim. Professional Indemnity Insurance is a solution for service providers to transfer the risk of being sued for such mistakes they might make.
Unlike general liability policies, Professional Indemnity policy provides indemnity to the Insured against financial losses arising from the provision of professional services only. Indemnity for defence costs and expenses is also provided.
However, in certain circumstances the policy will cover losses arising from Bodily Injury and Property Damage. For instance, the Engineers' Professional Indemnity Policy will only respond to claims arising from Bodily Injury or Property Damage as a result of negligence on the Engineers part in discharging their Professional Services.
Traditionally professionals like Architects, Engineers, Surveyors, Accountants, Lawyers, and Doctors often purchase Professional Indemnity policies.
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The benefit(s) payable under this product is (are) protected by PIDM up to limits. For more information, please refer to PIDM's Takaful and Insurance Benefits Protection System brochure on Zurich General Insurance Malaysia's website or PIDM's website.