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Professional liability insurance solutions for CAAV members

By Jon Leese
04.12.13
Download MFL Professional's insurance newsletter for CAAV member practices - issue 2, by clicking on the image above.

Dear CAAV Members,

Welcome to the second edition of ‘Professional Values’, the newsletter designed specifically to inform and advise rural surveying practices about their professional liability exposures and the insurance solutions available to protect them.

In this second issue, we focus on the difficult process of choosing the specialist Professional Indemnity insurance broker, who advises you on the cover you should take out, the underwriter you should insure with and the claims notification and handling process, and that of choosing the insurer itself, who makes a promise to indemnify you in the event of a claim against you, but who does not have the chance to prove its credentials to you (or otherwise) until you notify a claim to it.

Both choices should not be undertaken lightly in today’s Professional Indemnity Insurance market. In particular, you should note that many insurers, in order to seek alternative means of making an underwriting profit in a loss-making surveyors’ PII market, are looking for increasingly varied ways of avoiding paying claims through much stricter interpretations of the terms and conditions of the insurance policies they sell. This is why it is absolutely vital to choose the right insurer, and to take the professional advice of a specialist broker in this context. Remember that your livelihood and/or professional reputation may be on the line if you make the wrong choices.

As always, please let me know if there is a particular topic you wish us to include in future issues.

Yours sincerely,
Jonathan Leese, LLB FCII
Director and Chartered Insurance Broker
MFL Professional

To read on, download Professional Values here.

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