NSW Barristers – Professional Indemnity Insurance
As a result of feedback, we thought it would be appropriate to reiteratesome of the importantfeatures of the Approved Professional Indemnity Insurance Policy being offered by Marsh.
Policy complies with the Professional Standards Scheme–The Marsh Professional Indemnity Insurance Policy complies with the Bar Association's Professional Standards Scheme requirements because it provides insured Barristers with insurance cover to the value of the scheme cap in respect of each claim by having unlimited reinstatements.
Reduced Excess – The excess for claims arising workers compensation work has been reduced to $5,000 and the excess in respect of Disciplinary matters has been reduced to $10,000.
Unrivalled experiencein dealing with Barristers’ claims – Marsh does not just sell insurance. Since 1998 when the current scheme was implemented we have, in conjunction with our underwriters, handled over 500 circumstances and claimswith an incurred claim figure of over $11.5 million.
Competitive insurance package – Marsh researches the local and international Professional Indemnity Insurance markets to ensure that we obtain the most competitive insurance package that combines broad policy coverage and competitive pricing from underwriters who have extensive experience with Barristers Professional Indemnity Insurance.
Expert knowledge of Professional Indemnity – Marsh has been involved with Professional Indemnity Insurance for more than 40 years and has been a leading provider of Professional Indemnity insurance to Barristers for more than 20 years.
Access to a Barristers Legal Helpline – For Barristers who place their Professional Indemnity Insurance with Marsh, you will have immediate access to a Barristers Legal Helpline, which is manned by lawyers who will provide advice on the procedures to be followed,in the event of a circumstance or a claim coming to your attention.
Unlimited Automatic Reinstatements – Following a claim under the policy the Limit of Indemnity will be automatically reinstated, no matter how many claims you have in an insurance year.
The ability to deal with a broker who will represent you rather than dealing with an agent who represents the insurer.The NSW Court of Appeal decision, Caldwell V J A Neilson Investments Pty Limited (2007) NSWCA 3, considers the circumstances in which a duty of care will be owed by an insurance agent to a prospective insured and the determinants of the scope of that duty.
Run-off cover at no additional premium.Run-off cover isavailable at NO EXTRA COST, for 7 years. The Limit of Indemnity is $1,000,000 and the excess is deemed to be $1,000 inclusive of costs.
Note, for full details of the Marsh Professional Indemnity Insurance Policy we recommend that you refer to the documents provided.
If you have any questions please do not hesitate to contact:
Marsh Pty Ltd
Level 9, Tower 3
201 Sussex Street
Sydney NSW 2000
Talitha Goodwin 8864 7764
Paul Affleck 8864 7792