Top Tip: Keep a copy of your proposal form each year so you can review your previous application on a yearly basis.
Remember: A Professional Indemnity policy is a ‘Claims Made’ policy which means that the policy in force at the time a claim is made is the policy which has to pay the claim, it is not the policy in force when the incident occurred. Therefore it is essential that you renew your Professional Indemnity policy each year because insurance cover will stop once the policy stops. Even if you cease trading, it is important to consider “run-off cover” for a number of years to avoid leaving you exposed to a possible claim and no cover.
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