In a recent article written by various contributors from Herbert Smith LLP and posted on lexology.com, a whole series of tips are offered on how businesses can best maximise their recoveries from any insurance claims they make. And one particular tip relates to professional indemnity insurance.
As the authors make clear, some things are cut and dried. If you’re involved in the construction of a tunnel or a bridge and it collapses, then you probably don’t need to be told that an occurrence like that is something you should disclose to your professional indemnity insurance. But what about the ‘grey’ areas? A mild concern is raised in the course of an informal discussion, perhaps. Is that something worthy of disclosure?
Courts have spent many hours arguing over questions like that. So the advice offered is to make sure you always comply strictly with the requirements of the policy, taking legal advice if necessary. Otherwise you may find that you’ve invalidated your professional indemnity insurance cover. Call at 0333 3211 403.
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