Professional Indemnity. Policy Document

Transcription

1 Professional Indemnity Policy Document

2 This Policy (and the schedule which forms an integral part of the Policy) is a legal contract. Please examine it thoroughly to ensure it meets Your requirements. If it does not meet Your requirements then please advise Caunce O Hara & Co Ltd immediately. We would remind You that You are required to inform Us immediately of any fact, information or change that could be considered material in the assessment of or acceptance of this insurance. Failure to do so may invalidate Your Policy or result in certain covers not operating fully. If You are in any doubt as to whether a fact is material or not then please contact Caunce O Hara & Co Ltd. Caunce O Hara & Company Limited was established in 1995 and now ranks as one of the top 100 Independent Brokers in the United Kingdom. From their offices in Manchester they deliver innovative lateral solutions to clients insurance programs. Caunce O Hara has been arranging insurance cover for freelance contractors since they came into existence. They understand the marketplace and have been able to offer the breadth and flexibility of cover that is required when insuring many different types of occupations and activities. Few Insurers understand this risk and We believe we offer value for money insurance policies written on the widest available cover. Caunce O Hara are keen on providing the best in customer service and believe our administration and claim paying systems are fast, efficient and reliable. For more information please access Caunce O Hara s website or info@caunceohara.co.uk

3 Policy Definitions Every time We use one of the words or expressions listed below, it will have the same meaning wherever it appears in this Policy (unless stated otherwise). All defined words and expressions are listed below and wherever they appear throughout the Policy will begin with a capital letter and be highlighted in bold to help You identify them. Abuse means Any act of hurting or injuring mentally or physically by maltreatment or ill use; Repeated or continuing contemptuous, coarse or insulting words and/or behaviour; Actual or attempted sexual relations, sexual conduct or sexual intimacy, sexual harassment or sexual exploitation; or any act for the purpose of obtaining sexual gratification; whether by You or any other person. Avionics mean electronic equipment (including hardware, software, firmware and cabling) used in aircraft, spacecraft or other aerial devices in connection with navigation, control of flight or maintenance of orbit. Bodily Injury means physical injury, psychological injury, emotional distress or anguish, shock, sickness, disease or death Business means professional services performed by or professional advice provided by You for a fee in relation to those activities declared to Us as specified in the Schedule Claim means a demand from, or the assertion of a right against You. All Claims arising out of the same originating cause or source, or the same act, error or omission, or series of acts, errors or omissions that are in any way similar or related are deemed to be one Claim Documents means agreements, plans, records, deeds, books, letters, certificates, documents or forms of any nature whatsoever, whether written, printed or reproduced by any other method and computer programs or information stored on data carrying media. Documents do not include bearer bonds or coupons, stamps, bank or currency notes or other negotiable instruments. Limit of Indemnity means the Limit of Indemnity specified in the Schedule. This is the maximum We will pay in respect of any and all Claims and/or losses during the Period of Insurance and includes all legal costs and expenses incurred with Our prior written consent in the investigation, defence or settlement of any Claim for which cover is provided under this Policy. Medical Services means (d) the provision of, or failure to provide medical or paramedical services; and/or the provision of, or failure to provide drugs or the prescription of drugs; and/or the provision of equipment for use by any patient; and/or the use of any equipment for therapeutic or diagnostic purposes; Period of Insurance means the length of time this Policy lasts as shown in the Schedule. It also includes any extra period for which We have accepted premium Pollution means any actual or alleged or threatened discharge, dispersal, release or escape of any solid, liquid, gaseous or thermal irritant or contaminant including but not limited to smoke, vapours, soot, dust fibres, fungi, viruses, bacteria, fumes, radio-waves, acids, alkalis, chemicals and waste (including nuclear waste/materials) or contamination of any kind Uninsured Excess means the amount specified in the Schedule as the Uninsured Excess which must be borne by You at Your own risk. We will only pay that part of any Claim which exceeds this amount. The Uninsured Excess will not apply where the sole payment under this Policy is in respect of legal costs and expenses incurred with Our prior written consent in the investigation, defence or settlement of any Claim.

4 Terrorism means an act, including but not limited to the use of force or violence and/or the threat thereof, of any person or group of persons, whether acting alone or on behalf of or in connection with any organisation or government, committed for political, religious, ideological or similar purposes including the intention to influence any government and/or to put the public, or any section of the public, in fear. War means war, invasion, acts of foreign enemies, hostilities or war like operations (whether war be declared or not), civil war, rebellion, revolution, insurrection, civil commotion assuming the proportions of or amounting to an uprising, military or usurped power We/Us/Our means Mitsui Sumitomo Insurance Underwriting at Lloyds Limited Syndicate 3210 You/Your/Yourself means the person and/or firm/ and or limited company specified in the Schedule as the Insured. Any principal, partner, director or employee of the person or entity referred to in above but only in respect of the conduct of the Business What is Covered? 1. Claims Made Against You We will pay any damages and associated claimant s costs for which You become legally liable as a result of any Claim first made against You and notified to Us during the Period of Insurance in respect of: (d) any negligent act, negligent error or negligent omission (including any breach of contract occasioned by the same) committed by You; any dishonest, fraudulent, criminal or malicious act or omission of any person employed by You; any unintentional breach of, or infringement of, or unauthorised use by You of any confidential information, trade secret, patent, copyright, or of any system or program; any unintentional defamation by You; arising out of the conduct of Your Business We will also pay any legal costs and expenses incurred by You with Our prior written consent in the investigation, defence or settlement of any Claim. However We will not pay legal costs in respect of any part of a Claim which is not covered under this Policy. 2. Loss of Documents We will pay: any damages and associated claimant s costs for which You become legally liable as a result of any Claim first made against You and notified to Us during the Period of Insurance in consequence of any Document which has been unintentionally destroyed, damaged, lost or mislaid by You; the reasonable and necessary costs of repair, replacement and/or reconstitution of any Document which has been unintentionally destroyed, damaged, lost or mislaid by You; Provided that (i) (ii) the discovery of such loss or damage is notified to Us as soon as is reasonably practicable and in any event no later than the expiry date of the Period of Insurance; and; any such Document has been entrusted to You or deposited with You in the ordinary course of the conduct of Your Business and (where lost or mislaid) after diligent search cannot be found; The maximum We will pay under this Policy during any one Period of Insurance irrespective of the number of Claims and/or the number of insuring clauses applicable shall be the Limit of Indemnity

5 It is a condition precedent to Our liability under this Policy that You must pay the Uninsured Excess in respect of each and every Claim What is not covered? We will not pay 1. any Claim directly or indirectly arising out of or in any way involving Bodily Injury; Any loss of or damage to or destruction of tangible property, including the loss of use thereof; (except in so far as cover is provided under clause 2 of What Is Covered - Loss of Documents) unless the Claim directly arises out of any negligent advice, design, specification or formula provided by You. However, We will not pay any Claim directly or indirectly arising out of or in any way involving (i) (ii) (iii) The loss of, damage to or destruction of any exploration or production bore and/or other hole and/or well including the loss of use thereof; The loss of, or damage to or destruction of any equipment in any exploration or production bore and/or other hole and/or well including the loss of use thereof; The cost of destruction and/or removal of any debris arising from damage to any exploration and/or production vessel, platform or rig. 2. any Claim which has been notified, or ought to have been notified under any other policy of insurance in force prior to the inception of this Policy or which is based upon, arising from or in consequence of any circumstance which may give rise to a Claim if written notice of that circumstance has been given under any policy of insurance; a fact, circumstance or event the awareness of which would cause a reasonable person to believe that it may give rise to a Claim against You and of which fact, circumstance or event You were actually aware prior to the inception date of this Policy. 3. any Claim directly or indirectly arising out of or in any way involving any matter in respect of which You are (or but for the existence of this Policy would be) entitled to cover under any other policy of insurance except in respect of any excess beyond the amount that would have been payable under that insurance had this Policy not been effected. 4. any fine or penalty or any multiple damages, exemplary, penal, punitive, restitution, noncompensatory or aggregated damages. However, this exclusion will not apply to damages for defamation which are not specifically identified by a Court to be punitive or exemplary damages. 5. any fees claimed back by a customer of Yours due to (or allegedly due to) the total nonperformance of Your contractual obligations to that customer unless the fees form part of a compromise settlement involving a Claim for damages. Any performance warranty, indemnity, guarantee, penalty clause, liquidated damages clause, or similar provision unless Your liability would have existed to the same extent in the absence of such warranty, indemnity, guarantee, penalty clause, liquidated damages clause or similar provision. 6. any Claim directly or indirectly arising out of or in any way involving: the sale and/or supply of hardware, unless the Claim arises directly out of professional advice given by You in connection therewith; the recommendation and/or specification of any good or product where their use is not in accordance with the manufacturer s intended specification. 7. any Claim directly or indirectly arising out of or in any way involving:

6 ionising radiation or contamination by radioactivity from any nuclear fuel or from any nuclear waste from the combustion of nuclear fuel; radioactive, toxic, explosive or other hazardous properties of any explosive nuclear assembly or nuclear component. 8. any Claim made or action instituted within the United States of America or Canada or any territory which comes within the jurisdiction of the United States of America or Canada or elsewhere under the laws of those countries, or any arbitration or other award entered against You under the laws of those countries; any judgment or order wherever obtained for the enforcement of any judgment of the courts of the United States of America or Canada or under the laws of those countries (whether by way of reciprocal agreements or otherwise), or for the enforcement of any arbitration or other award entered against You under the laws of those countries. 9. any Claim directly or indirectly arising out of or in any way involving any work undertaken in the United States of America or Canada or any territory which comes within the jurisdiction of the United States of America or Canada. 10. any Claim directly or indirectly arising out of or in any way involving work undertaken by You prior to the Date of Establishment of Your company. 11. any Claim directly or indirectly arising out of or in any way involving the transmission of a computer virus. However this exclusion will not apply to any Claim directly arising out of the negligent transmission of a computer virus by You provided that the computer virus was not created by You and was transmitted innocently without Your knowledge. 12. any Claim or loss directly or indirectly arising out of or in any way involving the following regardless of any other cause or event contributing concurrently or in any other sequence to the loss: War, Terrorism. This exclusion also excludes loss, damage, cost or expense of whatsoever nature directly or indirectly caused by, resulting from or in connection with any action taken in controlling, preventing, suppressing or in any way relating to the above. If We allege that by reason of this exclusion, any loss, damage, cost or expense is not covered by this Policy the burden of proving the contrary shall be upon You. In the event any portion of this exclusion is found to be invalid or unenforceable, the remainder will remain in full force and effect. 13. Any Claim directly or indirectly arising out of or in any way involving: Avionics; any work undertaken within the aviation sector where the Claim relates to Bodily Injury and/or any loss of or damage to or destruction of tangible property and/or loss of revenue as a consequence of any flight being grounded. 14. Any Claim directly or indirectly arising out of or in any way involving the dishonest, fraudulent, criminal or malicious act or omission of any person unless the Claim arises directly out of the dishonest or fraudulent act or omission of any employee of Yours and results in a client of Yours suffering a financial loss provided that: No cover will be provided after the discovery, in relation to that person of reasonable cause for suspicion of any dishonest or fraudulent act or omission; No cover will be provided to any person committing or conspiring to commit or condoning a dishonest or fraudulent act or omission.

7 15. Any Claim directly or indirectly arising out of or in any way involving the investment of client funds, or advice provided on the investment of client funds, or Investment Business as defined by the Financial Services and Markets Act Any Claim or loss directly or indirectly arising out of or in any way involving Medical Services 17. Any Claim directly or indirectly arising out of or in any way involving Bodily Injury or Abuse where You act as a social worker. 18. Any Claim directly or indirectly arising out of or in any way involving Pollution unless the Claim arises directly out of any negligent advice, design, specification or formula provided by You. However We will only pay that part of any Claim that relates solely to the cost of redesigning, remedying or rectifying the defective structure; and We will not pay any Claim directly or indirectly arising out of or in any way involving the escape of any substance from any exploration or production bore and/or hole and/or well. 19. Any Claim for costs incurred in controlling and/or preventing any fire in connection with an exploration or production bore and/or hole and/or well 20. Any Claim directly or indirectly arising out of or in any way involving asbestos, or any materials containing asbestos 21. Any Claim directly or indirectly arising out of or in any way involving The ownership, possession or use of any aircraft, watercraft, hovercraft, motor vehicle, trailer or other means of transport or any buildings, structures, premises or land or any property (mobile or immobile) Any liability You incur as an actual or de facto director, officer or trustee Any breach of any obligation owed by You as an employer to any employee, or former employee or applicant for employment General Conditions 1. This Insurance shall be governed by and construed in accordance with the law of England and Wales and each party agrees to submit to the exclusive courts of England and Wales. 2. We are entitled, but not obliged, to take over the investigation, defence and settlement of any Claim and/or any circumstance which is likely to give rise to a Claim under this Policy and We will have full discretion in the handling of that Claim or circumstance (notwithstanding that a dispute may have arisen between You and Us) provided that You will not be required to contest any legal proceedings unless a Queen's Counsel (to be mutually agreed upon by Us and You or failing agreement to be appointed by the Chairman of the Bar Council) advises that the proceedings can be contested with a reasonable prospect of success. 3. In the event of any dispute or disagreement between You and Us regarding the settlement of any Claim by Us where You elect to contest or continue any legal proceedings in connection therewith, then Our liability for such Claim, (including all legal costs and expenses incurred with Our prior written consent) will not exceed the amount for which the Claim could have been settled (including legal costs and expenses), less the Uninsured Excess and then only up to the Limit of Indemnity. 4. If You make any request for cover under this Policy (or make or have made a request for cover under any other policy of insurance) which You know or knew or should have known to be false or fraudulent in any way, this Policy will become void, all cover under this Policy will be forfeited and all sums paid to You in respect of any Claim (or circumstance that is likely to give rise to a Claim) must be repaid to Us.

8 5. If any payment is made under this Policy We may at Our discretion seek recovery from any third party. However, We will not exercise this right against any employee of Yours unless the Claim in respect of which cover is provided under this Policy was contributed to, or caused, by a fraudulent, dishonest or malicious act or omission by that employee. 6. All statements and information provided by You in the written declaration and/or application form and/or online application together with any other written information supplied to Us will form the basis of this Policy. However this Policy will not be avoided for a non-disclosure or misrepresentation of such statements and or information provided that the non-disclosure or misrepresentation was innocent and free of any fraudulent conduct or intent to deceive. However: In any case where You should have notified a circumstance which is likely to give rise to a Claim under any preceding policy of insurance and the cover available under this Policy is greater or wider in scope than the cover to which You would have been entitled under the preceding insurance (whether with other Insurers or not) then any payment by Us in respect of that Claim will be limited to the extent to which cover would have been provided by the preceding policy of insurance Where Your breach of or non-compliance with any condition of this Policy has resulted in prejudice to the handling or settlement of any Claim, the cover provided by this Policy in respect of that Claim will be reduced to such sum as in Our opinion would have been payable in the absence of such prejudice. 7. Any dispute or disagreement between You and Us regarding the application of this Policy, will be referred by either party for arbitration to a Queen's Counsel (or by mutual agreement between You and Us a similar authority). 8. We can fully and finally discharge all liability to You for any Claim under this Policy either by making payment of the applicable Limit of Indemnity to You (less any sums previously paid) or by making payment of a sum less than the applicable Limit of Indemnity where a Claim can be settled for that lesser sum. Any payment will be subject to deduction of the Uninsured Excess. 9. A person who is not a party to this Policy has no rights under the Contracts (Rights of Third Parties) Act 1999 or any amendment or re-enactment thereof to enforce any term of this Policy. This condition does not affect any right or remedy of a third party which exists or is available other than by virtue of the Contracts (Rights of Third Parties) Act You must notify Us in writing as soon as practicable of any change materially affecting the facts or circumstances existing at the commencement of this insurance or at any subsequent renewal date. On receipt of that notice We may vary the terms of this Policy and/or charge any additional premium as We determine appropriate. 11. We may cancel this Policy (or any section within this Policy) by sending 30 days notice by registered to You at Your last known address and in such event You shall become entitled to the return of a proportionate part of the premium corresponding to the unexpired Period of Insurance (subject to any minimum premium which may apply). We reserve the right to cancel the Policy in the event of default under any plan for payment of premium by instalments from the date of such default. No refund of any instalments paid will be made to You. In the event of any claim having been made under this policy, the premium shall be deemed to be fully earned and no return will be due. 11. In this Policy: Any word stated in the singular will also include the plural, and any word stated in the plural will also include the singular. Words stated in the masculine gender will also include the feminine and vice versa. If any term, condition, exclusion or endorsement or part thereof is found to be invalid or unenforceable the remainder will be in full force and effect;. All headings in this Policy are for reference only and must not be considered when determining the meaning of this Policy.

9 Claims Procedures 1. You must notify Caunce O Hara Co. in writing as soon as is reasonably practicable and in any event no later than the expiry date of the Period of Insurance of (d) any Claim (or any intention by any party to make a Claim); any circumstance which is likely to give rise to a Claim; any loss of Documents; the discovery of any cause for suspicion of any dishonest or fraudulent act or omission on the part of any employee Any Claim subsequently made against You arising out of a circumstance notified to Us during the Period of Insurance will be deemed to have first been made against You during the Period of Insurance. 2. You must promptly provide to Us full details concerning any Claim (and/or circumstance which is likely to give rise to a Claim) and provide all co-operation and assistance as We and Our representatives, legal advisers or agents may require 3. You must not admit liability for, compromise, settle or make any offer or payment in respect of any Claim or any circumstance which is likely to give rise to a Claim without Our prior written consent. Data Protection Act All personal information supplied by You will be treated in confidence by Us and will not be disclosed to any third party except where Your consent has been received or where permitted by law. In order to provide You with products and services this information will be held in data systems by Us (or by Our agents or subcontractors). We may pass your personal data to other companies for processing on Our behalf. Some of these companies may be based outside Europe in countries which may not have laws to protect Your personal data, but in all cases We will ensure that it is kept securely and only used for the purposes for which You provided it. Details of the companies and countries involved can be provided to You on request.

10 Complaints Procedure We aim to provide you with a first class service. If We have not delivered the service that You expect or You are concerned with the service provided, We would like the opportunity to put things right. Initially please raise your concerns with Caunce O Hara & Company Ltd (Insurance Brokers) who define a complaint as any expression of dissatisfaction, whether oral or written and whether justified or not, about a service or activity provided in connection with this insurance Policy. If You have a complaint, please contact Caunce O Hara & Company Ltd in the first instance. Mr Christopher Caunce Caunce O Hara & Company Ltd 82 King Street Manchester M2 4WQ Tel No: If Your complaint is not resolved or You are not happy with our response and the course of action proposed, You can progress Your complaint to Us directly at the address below. A separate investigation will then be carried out in an attempt to resolve Your complaint and a final response issued. The Compliance Director Mitsui Sumitomo Insurance Group 25 Fenchurch Avenue London EC3M 5AD What to do if you are still not satisfied If you are still not satisfied, You can ask the Complaints Department at Lloyd s to review the complaint. The address is as follows: Policyholder & Market Assistance Lloyd's Market Services G6/86 One Lime Street London EC3M 7HA complaints@lloyds.com Tel: +44 (0) Fax: +44 (0) Referral can also be made to the Financial Ombudsman Services Financial Ombudsman Service South Quay Plaza 183 Marsh Wall London E14 9SR Tel: web: Your Rights Your rights as a customer to take legal action remain unaffected by the existence or use of any complaints procedures referred to above. However the Financial Ombudsman Service will not adjudicate on any cases where litigation has commenced