Professional indemnity insurance covers defence costs, the process of lawyer appointment and associated cost i.e. cost of legal defence once a lawsuit has been filed against the insured. Listed below is the manner in which the claim, once triggered, will be managed :
- Insured receives a legal notice or a compliant threatening for legal action
- It is the insured’s duty to immediately inform the insurer/broker of the incident
- Depending on whether the professional indemnity policy form is a duty to defend or right to defend, the insurer will carry out the process of lawyer appointment from its legal panel or seek recommendation from the insured on his choice of the legal representative
- The insurer’s legal panel constitutes legal counsel of multiple specializations. In case the insurer deems needful it may appoint a specialized legal counsel from outside.
- Based on the intensity of the claim, the insurer may approve the insured’s choice of legal counsel and/or recommend loss prevention measures
Insurer’s claim team and insured conduct a joint meeting with the appointed legal counsel and provide all relevant case facts for representation.
You can also call us on +91 9696683999 or Email us at email@example.com