Professional Indemnity Policy

REINSURANCE

TTIBI places reinsurance treaties of tap, the opportunities in the growing market, has recently forayed into Reinsurance Broking arena a well. With a highly experienced team, TTIBI aims to cater to the dynamic needs of its clients in India and abroad. The team is highly committed to adopt innovative approaches and work towards the best interest of the clients in procuring the right insurance cover at the right price with focused service levels. TTIBI is dedicated to its clients for the protection of their assets, liabilities and their product lines.

This policy is meant for professionals to cover liability falling on them as a result of errors and omissions committed by them whilst rendering professional service.

The policy offers a benefit of Retroactive period on continuous renewal of policy whereby claims reported in subsequent renewal but pertaining to earlier period after first inception of the policy, also become payable. Group policies can also be issued covering members of one profession.

In Professional Indemnity Policy, the sum insured is referred to as Limit of Indemnity. This limit is fixed per accident and per policy period which is called Any One Accident (AOA) limit and Any One Year (AOY) limit respectively. The ratio of AOA limit to AOY limit can be chosen from the following:

  • 1:1
  • 1:2
  • 1:3
  • 1:4