It’s important to understand that certain cases fall outside the scope of cover of the Professional Indemnity insurance policy. Some common exclusions include:

Fraud And Dishonesty

Claims arising from deliberate fraudulent or dishonest acts by the insured are generally excluded.

Criminal Acts

Coverage does not extend to include criminal activities or illegal acts committed by the insured.

Bodily Injury And Property Damage

Claims related to bodily injury or property damage are usually not covered, as these are typically covered by general liability insurance.

Known Claims And Circumstances

Claims or circumstances that the insured was aware of before the policy inception are also often excluded.

Contractual Liability

Claims arising solely from liabilities assumed under contract, unless the liability would have existed in the absence of the contract.

Insolvency Or Bankruptcy

Claims related to the insolvency or bankruptcy of the insured organization are not covered.

Intentional Acts

Claims resulting from intentional acts or omissions by the insured that are expected or intended to cause harm.

Fines And Penalties

Coverage does not typically include fines, penalties, or punitive damages imposed by regulatory authorities.

Pollution And Environmental Claims

Claims arising from pollution or environmental damage are often excluded.

War And Terrorism

Claims resulting from war, terrorism, or related acts are generally not covered unless clearly specified under the extensions.

Employee Claims

Claims made by employees for injuries or employment-related issues are usually excluded and covered under other types of insurance, like Workers’ Compensation or Group Personal Accident insurance.

Professionals must understand these exclusions and extensions to ensure they have the appropriate coverage for their unique demands and dangers. 

Choosing the right coverage can be aided by going over the specifics of the policy and talking through your options with our team at GoldStar Insurance Co. Ltd.