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.

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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