Loss Prevention Loss Prevention Alerts

LPA 39 – The risk for a professional when operating without insurance

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Published in March 2007

A professional indemnity policy is no more than a contract between a professional and an insurer. Through a professional indemnity insurance policy, an insurer will (subject to the policy terms and payment of any uninsured excess) meet the insured professional’s ascertained liabilities when they fall due. Essentially professional indemnity insurance is a form of risk transfer. This PLA describes the risks to members when operating without this insurance.