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PI, D&O Liability Claims Procedure

An important feature of any Professional Indemnity and Directors’ and Officers’ Liability policy is the “claims made” basis of cover. Essentially, these forms of cover require immediate notification of:

• A claim against an insured
• Any circumstances which may give rise to a claim under the policy

If such circumstances are not reported to the insurer prior to expiry of the period of insurance, the insurer is not bound to provide indemnity under the policy.
In order to ensure that any entitlement to indemnity is preserved, the insurer must be advised of any incident which may give rise to a claim immediately when it comes to the client’s attention and prior to the expiry date of the policy.

Notification should be given to the us and we will then advise the client what action should be taken and notify the insurer.