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Claims Made
Annual renewable professional indemnity policies are underwritten on a "Claims made" basis. This means that:-
- In order for a claim to qualify for indemnity a policy must be in force when the claim is first made
against the insured. (In terms of the policy conditions you are obliged to notify insurers as soon as you become
aware of any circumstances which may lead to a claim. Any actual claim which then materialises would be deemed to
be a claim under the policy which was in force at the time when the circumstance was first notified).
- The cause of action giving rise to the claim must have taken place on or after the ‘retroactive date’
shown on the certificate of insurance.
- If the policy has lapsed there will be no cover withstanding the fact that the policy may have been in
force at the time when the cause of action arose giving rise to the claim. It is therefore important to renew the
policy annually in this regard however, please note the contents of the attached document reflecting the 3 years’
free run-off cover, the facility to purchase indefinite run –off cover and the free indefinite run off cover you
will enjoy upon your retirement.
Retroactive Date
The date on or after which any claim made against the Insured will be indemnified in terms of the policy.
This date is normally fixed as being the date on which the cover was first taken and would remain unaltered
for the purposes of subsequent renewals. When cover is first taken additional retroactive cover may be offered
by Insurers subject to certain conditions and premium loadings. Should you be uncertain about whether or not
you require retroactive cover, please contact us so that we can assist you.
Non – Cancellable Annual Policy
This policy is an annual policy and does not contain a bilateral cancellation condition.
GLENRAND M.I.B MEDICAL MALPRACTICE INDEMNITY APPLICATION FORM
Click here to download the form.
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