Professional Indemnity insurance - an overview

Overview

This presentation provides an overview of professional indemnity insurance. It looks at the main case law underpinning the PI market, why the PI market is expanding in terms of number of policyholders needing the cover yet at the same time the capacity is decreasing.

It explores the problems posed by a claims made wording and the difficulty clients have going into retirement without adequate run off cover.

The presentation also looks at ensuring the correct limits of indemnity are set.

Learning Objectives

• Understand the main purpose of professional indemnity cover

• Understand the case law that supports the PI market

• Understand why demand for PI is increasing but capacity decreasing

• Understand the issues surrounding a claims made wording

• Understand why limits of indemnity are often inadequate

Speaker Biography
Alan Chandler has undertaken operational management roles in three major global companies: NatWest Insurance Services, RBS Insurance Group and Allianz Insurance. He has run underwriting, broking and claims functions. Eleven years ago he set up his own training company, something that he had always longed to do as he is passionate about training. Since then he has trained well over a thousand people to become ACII qualified including six individuals who have achieved the best ACII completion in the whole of the United Kingdom. He has also trained many national prize winners. Alan has delivered training for almost all the local insurance institutes in the UK over the past few years, with his enthusiastic presenting style proving very popular. He is one of the few individuals who can teach at all levels of the CII examinations, and teaches almost all certificate, diploma and advanced diploma subjects. He is also one of the few people who can take someone from Certificate all the way through to fully qualified ACII and his pass rates exceed 96%. Alan has presented across Europe on many technical subjects to companies including Allianz, Zurich, Aon, Marsh and Willis. He has been involved in the setting up of many diploma and advanced diploma programmes in both the UK and Ireland and is driven by a passion to see increased professionalism within the insurance industry.

This presentation is suitable for brokers, handlers, underwriters and claims staff alike.

WEBINAR LINKS ARE SENT SEPARATELY TO YOUR BOOKING CONFIRMATION, CLOSER TO THE TIME/DAY OF THE SESSION.