Professional indemnity

Philip Sandle

Head of Marine Liability

Beazley's Marine Professional Indemnity Insurance policy protects a wide range of organisations involved in marine trade and in shipbuilding - from marine surveyors to shipyards - against financial liability arising from a breach of their professional duties committed in the conduct of their business. It also covers the costs and expenses of defending such claims.

Understanding the coverage

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These risks are growing in scale and complexity and the importance of robust professional liability cover is growing proportionately. If a third party suffers loss or damage as a result of a mistake made by a professional or the failure to exercise the required skill in providing a professional service, the financial consequences can be devastating.

Target

We protect the interests of professionals including:

Average adjusters	Marine engineers
Bunker brokers	Marine pilots
Classification societies	Marine registries
Collateral managers	Marine surveyors
Crew agents	Naval architects
Crew managers	New building supervisors
Cruise line agents	Oceanographers
Customs clearance agents	Owners pre-delivery crew
Designated persons (ISPS)	P&I club correspondents
Forwarding agents	Ship pool managers
Freight brokers	Ship agents
Hydrographic surveyors	Ship brokers
Offshore consultants	Ship managers
Lloyd's agents	Ship yards
Loss adjusters	Transport project designers
Managers of P&I Clubs	Truck brokers
Marine chemists	Yacht brokers
Marine consultants	Yacht managers

Scope of Cover

Negligence, Errors and Omissions:

Any mistake made while carrying out the insured services, provided it is not a deliberate or reckless act of the insured.

Third Party Liability:

Non-contractual liability for physical loss of or damage to third party property and consequential loss resulting from such loss or damage, including liability for death, bodily injury or illness.

Claims by an Authority:

Legal liabilities imposed by a public or governmental authority in respect of fines, penalties and duties.

Fraud by an Employee:

Dishonest, fraudulent, criminal or malicious act or omission by any employee of the Insured.

Loss of hire

Legal liability arising from the loss of any documents in the insured's care or control.

Libel and Slander:

By reason of words written or spoken by the insured.

Intellectual Property Rights:

Unintentional infringement by the Insured of any copyright, trademark, registered design, patent, plagiarism or breach of confidentiality.

Breach of Warranty of Authority:

Exceeding the authority given to the insured by their principal.

Unintentional Principal:

Legal responsibility under local law for the liabilities of the insured's principal.

Claims Expenses:

Defence and investigation costs.

Limits

Up to US $20,000,000

Territories

Worldwide