Professional Indemnity and Director's & Officer's Liability Claims

Professional Indemnity and Directors & Officers Liability policies are written on a 'claims made' basis. It is a condition that:

  • all claims made against you, by way of writ, summons, or legal notice; or
  • any circumstance or incident that comes to your attention and which may give rise to a claim at a later date, must be notified to the insurer immediately upon you becoming aware of the circumstance or incident.

If the insurer is not notified during the policy period and you become aware of the incident or claim, you may not have cover for any future claim arising out of the incident or circumstance.

A claim is any indication, either verbally or in writing, that you receive from any party, indicating that they are unhappy and hold you responsible for the consequences.

A claim circumstance is anything that you become aware of that could give rise to someone making a claim against you.

You should contact your insurance broker, adviser or insurer as soon as you become aware of a claim or potential claim or circumstance prior to providing written confirmation.

Note: Insurers may request further information depending upon the circumstances or your claim.