(a) List six experts that would require professional indemnity insurance in their operations. (b) Explain the cover provided by each of the following insura...

Answer Details

(a) Six experts that would require professional indemnity insurance

1. Medical doctors and surgeons.
2. Lawyers (legal practitioners).
3. Accountants and auditors.
4. Architects.
5. Engineers.
6. Insurance brokers.
7. Pharmacists.

(b) Cover provided by each policy

1. (i) Personal liability: This covers an individual against his legal liability for death, bodily injury or damage to the property of other people caused by his own negligence or that of his family in their private, non-business capacity, for example a household accident that injures a visitor.
2. (ii) Public liability: This covers a business or occupier against its legal liability for death, injury or property damage suffered by members of the public arising out of the conduct of the business or the use of its premises, for example a customer injured on business premises.
3. (iii) Professional indemnity: This covers a professional person against legal liability to pay damages to his clients for loss or injury they suffer as a result of his negligence, error or omission in the performance of his professional duties, for example wrong advice by a doctor, lawyer or accountant.