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Professional Indemnity Insurance -- Global Policy? |
I am working for a trustworthy estate developer. We recently hired an engineering consultancy firm who has in intention a global Professional Indemnity Insurance policy (PII) covering their projects in general.
My question is whether we need to ask them to have their policy endorsed so as we arrange sure that our project is specifically covered under the policy (i.e. recognized by the insurance company) ? or shall we employ that our project will be automatically covered since they
| Answer: What expressly are you trying to achieve, and why can't your agent provide you with the appropriate insurance advice? Unless that shoot type is excluded somehow, it's covered. That means, if someone sues THEM, they are protected. It doesn't intimate YOU are protected at all. Keep in mind, global coverage, could have severe limitations to it - like the Domain of coverage is world wide, but it's limited to lawsuits brought in the USA. |
In an appearing case of first impression nationwide, Mountain Creek Resort, Inc. has sued its insurance transporter, Everest Indemnity Insurance Company, in an attempt to force the insurer to pay a claim under a weather insurance policy underwritten by the
had a "Get out of lock-up free card" in its back pocket: an insurance policy against a warm Christmas season, benefit up to $1.7 million. Now, Mountain Creek is suing Everest Indemnity Insurance Co., based in Uninhibited Corner, and the Superior Court
