Sterling Insurance Group announces the launch of professional indemnity cover as an optional add-on to its existing Executive range of products.
Sterling Insurance has teamed up with W. R. Berkley Insurance (Europe) Limited to bring this new PI facility to the market.
Kevin Donoghue, Head of Commercial, Sterling Insurance comments: “There has been a lot of debate recently about whether professional indemnity cover has become so commoditised that it’s a product better sold online. However we believe that it is a class of business that is better discussed with clients to ensure they purchase appropriate cover and a class of business that demands the support of exceptional claims service.”
He continued: “With contractual obligations developing over time and businesses operating in an increasingly litigious society, our new cover offers brokers the opportunity to provide their clients with an efficient and affordable way to cater for these eventualities.”
The cover offers a maximum indemnity limit of £2 million and includes benefit limits of up to £50,000 for replacing or restoring lost or damaged documents and up to £50,000 cover for defending injunctions in respect of copyright or patent infringement.
Donoghue concludes: “There are new professions emerging all the time, many of whom could benefit from PI cover and we see a tremendous opportunity for brokers. When push comes to shove, if a client needs to make a claim against their PI policy then it’s likely to be a distressed situation and they will want assurance that they have cover that will protect their business and their reputation. Our new PI cover can give them that reassurance.”