Claims Process
2 Docs
How do I determine what my Insurance Policy covers me for
Last Updated: June 19, 2025The two key documents to review are your Policy Schedule and the Policy Wording. The Policy Schedule provides a summary of your cover. It outlines: Your individual policy limits Insured items Excess amounts, and Any special conditions or endorsements. The Policy Wording explains the cover in more detail. It outlines: What is included, What is excluded, How claims are managed, and Your responsibilities as the insured. If you are unsure how to interpret these documents or would like help understanding what applies to your business, we are always happy to walk through them with you and highlight the sections that matter most. Please feel free to contact us with any questions you might have.
When do I pay my Deductible (Excess) in a Professional Indemnity Claim
Last Updated: June 19, 2025In a Professional Indemnity claim, your excess, also referred to as a deductible, is usually payable once the insurer begins incurring costs related to your claim. This may include legal expenses, investigations, or settlement payments, depending on the structure of your policy. There are two main types of excess: Costs ‘Inclusive’ means your excess applies to both defence costs and any settlement amount. You may be required to pay your excess early in the process, once legal expenses begin. Costs ‘Exclusive’ means your excess only applies if the insurer pays a settlement or judgment. In this case, you may not need to pay your excess unless the claim results in a financial payout to the other party, saving you from having to pay your excess towards defence costs incurred on the claim. We will review your policy wording with you and explain when and how your excess applies, so you know what to expect if a claim arises.