Covers
liability arising out of professional negligence (of medical
practitioners, insurance brokers, architects and consulting
engineers etc.)
This Policy pays on behalf the Insured sums which he may become
liable at law in direct consequence of any negligent act,
error or omission or such negligent act, error or omission
by another party for which Insured is vicariously responsible
in law, in performance of professional services to others.
Costs and expenses of litigation also
will be paid within the Limit provided in the policy.
Standard Exclusions
- Dishonest, fraudulent, criminal or malicious act or misrepresentation
- Assault, injury, sickness disease or death or destruction
of property caused intentionally or at the discretion
of the Insured
- Claims obtainable under Workmen’s Compensation,
Employer’s Liability insurances
- Loss and expense for additions, remodeling, demolishing
or rebuilding of any structure as a result of error
or omission in professional services which error or omission
does not result in and accident
- Alleged or actual breach of contract, failure to fulfill
contract obligations, warranties or guarantees
- War, invasion, martial law, strike, riot or civil commotion
or terrorism
- Claims originating under mold or asbestos
- Pure financial loss
- Contractual liability exceeding legal liability
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