This new work provides an authoritative and practical guide to the law of professional indemnity insurance (PII). Although governed by the general principles of insurance law, PII gives rise to specific issues which merit special treatment. Professional Indemnity Insurance provides a clear, succinct account of the general principles of the relevant law, and focuses on professional indemnity related issues. The book includes exposition of the relevant authorities (including from major Commonwealth jurisdictions) in order to further illustrate points of law and lines of argument. There is a discussion of standard terms (such as the solicitors' Minimum Terms) and of policy wordings in general use and the authors seek to address the issues which arise in practice in relation to claims made policies. As the recession gives rise to a new wave of claims against professionals, raising issues such as block notification of claims, aggregation and the exclusion of cover for fraud and dishonesty, the publication of this book is timely and will be an invaluable resource for solicitors and barristers specialising in professional liability, and in insurance/reinsurance.
Table of Contents
1. Introduction ; 2. The basis of cover ; 3. The insurance broker ; 4. Entering the contract ; 5. The duty of utmost good faith ; 6. Misrepresentation ; 7. The construction of the contract ; 8. Fraud and dishonesty ; 9. The indemnity ; 10. The amount of the indemnity: the excess, policy limits, and aggregation of claims ; 11. The obligations of the insured in relation to claims by third parties ; 12. The defense of claims by third parties ; 13. Third party rights against insurers
Brendan McGurk is a Barrister at 4 New Square specialising in Professional Liability, Commercial Litigation and Insurance & Reinsurance