Reliance Professional Indemnity Insurance

In India, Reliance General Insurance Company Limited is a private company that provides general insurance services. The company boasts a substantial customer base that comprises numerous SMEs and corporations. As reported by IRDAI, the company's claim settlement ratio for the year 2021-22 was an impressive 98.65%.

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Reliance Professional Indemnity Insurance: Features

The following are the main advantages of this insurance policy:

  • The policy is made as per the requirements of various professionals and professional services
  • Comprehensive coverage against several types of risks
  • Covers legal expenses and costs incurred with the insured's prior consent
  • Hassle-free documentation
  • The insured can adjust the sum insured during the policy tenure.

Reliance Professional Indemnity Insurance Policy: Inclusions

The policy provides coverage for the following perils:

  • Legal responsibility for bodily injury or death resulting from a professional duty breach by the insured, the firm's previous owners (if they're covered), or any employee working on behalf of the firm.
  • Payment for legal defense costs, fees, and expenses anywhere in India according to Indian law.
Explore Types of Professional Indemnity Insurance

Reliance Professional Indemnity Insurance policy: Exclusions

The policy does not provide coverage for the following perils:

  • Criminal or unlawful acts
  • Services rendered while under the influence of drugs or alcohol
  • Third-party public liability
  • Any condition related to AIDS
  • Personal injuries such as libel, slander, defamation, and their resultant mental injury or shock
  • Infringement of patents, copyrights, trademarks, or registered designs
  • Non-compliance with professional practice standards laid down by law or official bodies
  • Purely financial losses such as loss of market or goodwill
  • Dishonest, fraudulent, criminal, or malicious acts
  • Fines, penalties, punitive, or exemplary damages
  • Professional services rendered before the Retroactive Date in the Schedule
  • Deliberate or intentional disregard of the insured's technical or administrative management to prevent claims
  • Injuries to persons employed under the insured's contract or apprenticeship arising from such contract execution
  • War and nuclear perils

Reliance Professional Indemnity Insurance: Claim Process

To make a claim under professional indemnity insurance policy, you should follow these steps:

  • Inform the insurance company
  • Fill out the claim form, sign it, and get it stamped by the insurer
  • A surveyor will be sent by the insurance company
  • The surveyor will examine the situation for which the claim has been raised
  • Assist the surveyor and tell him/her whatever they ask. Also, tell them what led to the incident
  • If you receive any legal or formal letter then share it with the surveyor.
  • If any legal proceedings have been initiated following the incident, inform the inspector
  • Provide an estimated loss amount to the insurer
  • If the loss is covered by the insurance policy, the insurer will settle the claim within the specified time frame

Reliance Professional Indemnity Insurance: Documents Required

If you want to file a claim under this insurance policy, you will need to submit the following documents, in addition to the claim form:

  • A copy of your PAN Card
  • A copy of your Aadhar Card
  • A copy of your GST Registration Certificate
  • Proof of address for the location covered by the policy
  • Any other document that the insurer may require.

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Written By: PolicyBazaar - Updated: 18 October 2023
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Policybazaar for Business - Professional Indemnity Insurance - Customer Reviews
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4/5
Based on 21 reviews
4
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Based on 21 reviews
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15 users
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4.5 April 24, 2023
Harshit
Helpful Purchase
Profesiona Indemnity Insurance has been a game-changer for my consultancy business. It has given me the confidence to take on new projects and expand my services, knowing that I have robust coverage in place.PolicyBazaar has been fantastic in answering my questions and tailoring the policy to my specific needs.Thanks PolicyBazaar.
Pune
3.5 April 12, 2023
Bhavesh
Amazing Deals
I recently purchased Professional Indeminty Insurance from PolicyBazaar and the claims process is smooth, and has always been prompt in resolving any issues or concerns I've had. I appreciate the reliability and professionalism they exhibit.
Howrah
3.8 March 31, 2023
Bhuvan
Online Purchasing
Profesional Indemnity Insurance has been a lifesaver for my business. It offers comprehensive protection against any claims that may arise from errors or negligence on my part. The claims process was straightforward, and they handled everything efficiently. I highly value the peace of mind this insurance provides and would recommend it to any professional.
Madurai
4.3 March 13, 2023
Atif
Impressive Features
I had an excellent experience while buying Personal Indemnity Insurance. It was quick and easy to get a quote online and the premiums were quite affordable. The policy covers all the essential aspects, and the customer service team was responsive and supportive. I feel much more confident in my work knowing that I have this coverage
Agra
3.8 March 01, 2023
Tejas
Helped To Secure Confidential Data Of Company
As a Owner I had a high risk of loss of confidential data. Then my colleague suggested me go for PI Insurance at PolicyBazaar. So I visited their website and contacted the team. They answered all my queries, and when I got satisfied with the plan, I made a purchase. Thanks, PolicyBazaar.
Nashik
4.3 February 17, 2023
Ankita
Covers Legal Expenses
There was a party that made a claim against us for professional negligence by one of our employees. Thanks to PolicyBazaar which helped me protect our financial position and helped us during the claim process that covered our Legal expenses and Settlement cost. Highly Recommend this.
Allahabad
4.3 February 05, 2023
Monika
Covers The Risks
I bought Professional Indemnity Insurance from PolicyBazaar, as I was looking for insurance that could mitigate my risk associated with several professional services. Thanks to PolicyBazaar. It was worth buying. Highly Recommend it.
Jamshedpur
4.3 January 24, 2023
Riya
Helps Me To Focus On My Work
I was always concerned about my organization in order to safeguard against potential liabilities and unforeseen circumstances that could arise from professional negligence. So I bought PI Insurance at Policybazaar and found it good as it helped me to focus on my work without worrying about financial repercussions. So thanks to PolicyBazaar.
Vadodara
3.8 January 08, 2023
Shreya
Amazing Deals
I bought Professional Indemnity Insurance from the PolicyBazaar website and found it suitable for my business. I run a small company. I got terrific Deals at PolicyBazaar. It was an excellent Purchase. Thankyou PolicyBazaar.
Ludhiana
4.3 December 14, 2022
Doctor Vishal
Covers Professional Negligence
As a Doctor, I was searching for Professional Indemnity Insurance that could provide me coverage against claims for Negligence in my services. Then I visit PolicyBazaar Website. There I came across several benefits. So I made the purchase there. Thanks, PolicyBazaar.
Kochi