Immendity insurance
These policies are commonly designed to protect professionals and business owners when they are found to be at fault for a specific event such as misjudgment or malpractice. They generally take the form of a letter of indemnity.
Description of risk
The company will indemnify the insured in respect of :
1- Legal Liability Claims made against the insured and notified to the insurer during the policy period incurred in the conduct of the insured's professional business which give rise to a legal liability as a result of breach of professional duty arising out of negligence on the part of :
(a) The Insured
(b) Any Employee
2- Loss of documents:
Any reasonable cost or expense incurred by the insured ( and to which the insurer has consented) in replacing and restoring documents either owned by or the responsibility of the insured n the conduct of the insured's professional business which are discovered lost or damaged and notified to the insurer during the policy period
1- Legal Liability Claims made against the insured and notified to the insurer during the policy period incurred in the conduct of the insured's professional business which give rise to a legal liability as a result of breach of professional duty arising out of negligence on the part of :
(a) The Insured
(b) Any Employee
2- Loss of documents:
Any reasonable cost or expense incurred by the insured ( and to which the insurer has consented) in replacing and restoring documents either owned by or the responsibility of the insured n the conduct of the insured's professional business which are discovered lost or damaged and notified to the insurer during the policy period