Professional Indemnity Insurance:
  • Is designed to protect professionals such as lawyers, doctors and accountants against claims which might be made against them
  • Covers these professionals against their liability to their principals or clients or their principal's clients (third party) arising out of neglect, omission or error in the discharge of their professional duties
  • The cover can be made for an individual employee or for the firm
Scope of Cover
  • Covers both actual and alleged negligent acts, errors or omissions, i.e. does not provide cover for claims brought about by dishonest, fraudulent, criminal or malicious acts or omission
  • The policy also makes provision for the payment of legal costs and expenses in the defence of a claim
  • The limit of indemnity is an aggregate limit for any period of insurance
Underwriting Information
  • The amount of indemnity required
  • Details of type of professional services being offered
  • Number of partners and practitioners
  • Territorial area where the practice is set up, e.g. overseas branches
  • The fees received by the professional for the past few years
  • Previous insurance experience
  • Age and experience of principals
  • Claims history
  • Previous errors by staff
  • Professional qualifications
  • Possible outstanding liabilities
© 2012 Cambodian National Insurance Company (CAMINCO)