Professional Indemnity for Attorneys
Professional Indemnity insurance, PI insurance or PI cover as its sometimes referred too, is insurance cover for legal professionals should they be liable to pay compensation for any negligent act, error or omission arising in the performance of their professional duties.
All Law firms enjoy a primary level of Professional Indemnity Insurance through the Legal Practitioners Indemnity Insurance Fund (LPIIF). This level of cover ranges between R1,562,500 and R3,125,000, dependent on the number of Directors in the practice.
Genoa offers our Attorney client’s specialised Top-up Professional Indemnity cover at highly competitive rates. This cover sits in excess of the cover received from the LPIIF. As a provider who has been in the liability insurance game for many years, you can be assured of the quick and efficient resolutions of valid claims.
We offer multiple extensions to our Professional Indemnity policy which, at the Insureds request, will include cover for the following events:
- AIIF excess infill
- Claims preparation costs
- Correspondent attorneys
- Cyber liability
- Defence costs to appear before a statutory body
- Investment advice
- Liability following Employee dishonesty
- Loss of Documents
- Outside directors and officers
We offer a claims made based insurance policy which, subject to the retroactive date contained in the policy, provides effective cover that is triggered when a claim is made against our client during the policy period, regardless of when the alleged wrongful act occurred.
Contact Genoa today for more information on any of our offered policies.