Professional Indemnity - Schools
THE POLICY
Professional Indemnity policies provide indemnity for claims arising from the rendering of or failure to render professional advice or service by the Insured or any error or omission connected with such advice or service.
The various sections of our policy are as follows:
1. Breach of Professional Duty - It is the professional's duty to exercise a reasonable degree of skill, competence and ability, that is the professional is expected to perform his/her duties with the reasonable degree of care and skill to be expected within that profession.
2. Libel and Slander - The cover provided under Section 2 is for legal liability arising from words spoken or written by the insured or the Insured's employees, agents or voluntary workers in the conduct of the profession which is stated in the schedule.
3. Loss of Documents - The Insured is indemnified for legal liability arising from:
Loss or deprivation of or damage to documents which are in the custody or control of the Insured.
- In transit, in and between Australia and New Zealand by land, sea or air;
- In transit by airmail anywhere in the world.
It is important to note that this section does not afford cover for loss, deprivation or damage if the Insured does not know the contents should the documents be enclosed in boxes or other covers.
4. Fraud and Dishonesty - This Section indemnifies the Insured against claims brought about as a result of any dishonest, fraudulent, criminal or malicious act or omission of an employee, agent or voluntary worker of the Insured.
5. Automatic Reinstatement - This Section has the effect of reinstating the limit of indemnity under the policy.
WHO NEEDS THIS COVER?
Professional Indemnity Insurance - Schools is designed for professional organisations which work within the education sector and give advice or offer services in a professional capacity.
LIMITS OF LIABILITY
The limit of indemnity represents the maximum amount for which Catholic Church Insurances Limited will be liable during any one period of insurance. However, if the Insured elects to effect a policy with an Automatic Reinstatement this has the effect of doubling the limit of indemnity. If the original limit of indemnity is exhausted the limit is reinstated.
STAMP DUTY
Where applicable stamp duty is added to the premium.
FEATURES and BENEFITS
Our Professional Indemnity policies also indemnify the Insured against claims made under the Trade Practices Act (Cth) or Fair Trading Act (Vic) or similar legislation in other States which arise from misleading or deceptive conduct.
IMPORTANT POINTS
This is a claims made policy meaning that any claims must have first been made against the Insured during the period of insurance, notified to us during that same period and arisen from an act, error or omission which occurred subsequent to the retroactive date. The retroactive date to appear on the policy will always be the inception date of the policy.
TAKING OUT A POLICY
Catholic Church Insurances Limited will assist in obtaining information necessary for providing a quotation and issuing a policy.
It is most important for liability claims that we be advised in writing as soon as possible of every occurrence, writ, summons, proceedings, impending prosecution or inquest where liability may arise under this policy.
We need to thoroughly investigate the event as soon as possible after it has occurred, whilst it is still fresh in people's minds. This will then allow us to prepare a better defence of the claim if we consider that this is required.
Please note: this information sheet is not intended to replace the policy wording. It is designed for information purposes only and should be read in conjunction with the policy wording. For further information or a full copy of the policy wording please contact Catholic Church Insurances Limited on 1300 655 001.
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