Professional Indemnity
Quotation Advice
Professional Indemnity Quotations
Each of the cases submitted to us for a quotation are looked at on an individual basis. To enable us to consider a case properly we require, as much detail as possible and the following list is a guideline to what should be included within a presentation.
- A completed proposal form, which can be downloaded from this site.
- Fee income (consultants) or turnover (e.g. building contractor). Last three years and projected if risk is established; projected if newly established. Identify any fees derived from work or clients outside of the UK. Average and largest fee information will assist.
- Claims experience. All payments and reserves. If risk is newly established, has the proposer had any claims made against them from previous employ?
- Risk management information - what steps does the proposer take to reduce the likelihood of claims occurring e.g. do they use standard terms of engagement; do they have any quality standards; what steps taken to prevent recurrence of a claim?
- Quotes can be given subject to a satisfactorily completed NU proposal form, although this is not always the case if the original submission included adequate underwriting information.
CVs
CVs are always helpful in establishing appropriate qualifications and experience for a particular proposer.
- If a proposer is professionally qualified, a CV is not always necessary but will not hinder matters if it is included in any submission. Generally speaking, well-established businesses should not require to provide CV(s).
- All newly established businesses should provide CVs for each partner, principal or director as part of the submission.
- Indications can be provided subject to satisfactory CV(s).
If you would like to know more about how we can help or have any opportunities to explore, speak to your Norwich Union Account Manager or contact us directly.
