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The Policy will indemnify the Insured in respect of ERRORS and / or OMISSIONS on the part of the Accountants /Lawyers ,his named employees, partners while rendering professional services.
Brief Description
The Policy will indemnify the Insured in respect of ERRORS and / or OMISSIONS on the part of the Accountants (Chattered Accountants, Financial Accountants, Management Consultants)/Lawyers (Advocates/Solicitors/Counsels),his named employees, partners while rendering professional services. IN normal course all claims for compensation have to be legally established in the court of law.
Covered Risks
All sums which the insured becomes legally liable to pay as damages to third party in respect of Errors and/or Omissions on the part of the Insured whilst rendering professional services, arising out of claims first made in writing against the insured during the policy period, including legal costs and expenses incurred with the prior consent of insurer, subject to the limits of indemnity.
Major Exclusions
When any liability arises out of any criminal act or act committed in violation of any law or ordinance, services rendered while under the influence of intoxicants or narcotics.
