Insurance brokers have a duty to report all circumstances which may lead to a future claim on their professional indemnity (PI) policy.
It is vitally important to comply with this duty as the policies are annually renewable, operate on a claims-made basis and have notification conditions which can be onerous. If a broker does not report a particular circumstance and it later leads to a claim, the insurers may not be liable to meet the claim.
If renewal takes place between the circumstance occu
- Ardonagh picks up selected renewal rights from Ageas Retail in £7m deal
- Eldon Insurance states none of its data was used by Leave.eu campaign
- Towergate owners post £261m loss for 2017
- Ardonagh looking at deals worth £500m
- Ex-Das CEO Paul Asplin stands trial for fraud
- Two thirds of UK manufacturers lack cyber insurance cover
- SSP adds Pex Insure to panel