Professional Indemnity

The IUA’s Professional Indemnity Forum is a discussion and educational group for the London professional indemnity underwriting market. It aims to promote sound principles for the best   practice of professional indemnity insurance and will consider any underwriting, claims or related technical matters raised by its members.

IUA Contacts:

Chris Jones

Patrick Davison

For agendas of the Professional Indemnity Forum click here.

For minutes of the Professional Indemnity Forum click here.
News
26.2.10: Model Financial Institutions & Professional Indemnity Excess of Loss Policy Wording
26 February 2010
Circular 021/10: IUA’s Banks Underwriters’ Group and Professional Indemnity Forum have published a Model Financial Institutions and Professional Indemnity Policy Wording.
16.10.09: Professional Liability Data Template
16 October 2009
Circular 099/09: IUA’s Professional Lines Underwriting Group (PLUG) has produced a data submission template which can be used by reinsurers when in collating data from cedants writing Professional Indemnity, Financial Institutions and Directors & Officers business.
1.5.09: Formation of IUA Property Facultative Underwriting Committee
1 May 2009
Circular 046/09: The IUA Non-Marine Technical Committee has agreed to form a Property Facultative Underwriting Committee and would be grateful for member’s views and provision of representatives to join it.
30.4.09: IUA Clauses G510 and G511 - Radioactive Contamination Exclusion Clauses
30 April 2009
Circular 044/09: Following feedback from IUA members on clauses G510 and G511, the working party that drafted the clauses met to consider the issues which have subsequently been raised. As a result of this meeting, the working party have provided the attached clarification on the intended use and applicability of G510 and G511.
29.4.09: Conditions Precedent Clauses
29 April 2009
Circular 043/09: Following recent court cases in respect of condition precedent provisions, the IUA Non-Marine Clauses Sub-Committee have sought to raise awareness of steps insurers/reinsurers may wish to consider that could lend weight to the determination of condition precedent provisions in the event of a dispute.
24.11.08: NP512: Professional Liability U.S.A and Canada Clause (PLUC)
24 November 2008
Circular 115/08: Publication of IUA clause NP512: Professional Liability U.S.A and Canada clause (PLUC). This clause has been drafted by the IUA’s Financial Lines Sub-Group to replace the widely used PINA 1995 clause, which was felt to be out of date with the requirements of today’s market.

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Documents
Letter from IUA to Serious Fraud Office
27 October 2009
IUA has recently written to SFO highlighting the insurance implications of FI and PI insurers of the SFO policy of pursuing civil settlements for fraudulent activity. The letter can be accessed via the link above
DAC Top Ten Professional Indemnity Cases 2008
21 October 2009
Davies Arnold Cooper (DAC) have published a 2008 'Top Ten' cases paper for Professional Indemnity. It can be accessed here.
Top 10 Policy Coverage Disputes
14 November 2008
Barlow Lyde & Gilbert recently held a seminar of Professional & Financial Lines coverage issues. A summary of the key points of the disputes can be found here.
Mortgage Fraud Presentation to PIF
1 April 2008
On 27 March 2008 Peter Maguire and Simon Chandler from CMS Cameron McKenna UK gave a presentation to the Professional Indemnity Forum on mortgage fraud. The slides can be accessed here.
Professional Indemnity Top Ten Cases of 2007
1 March 2008
Davies Arnold Cooper (DAC) have published a 2007 'Top Ten' cases paper for Professional Indemnity. It can be accessed here.
XCS Sub-Prime Definition
1 March 2008
The defintion of 'Sub-Prime' published by XCS for use when attributing claims to the Lloyd's Sub-Prime Cat Code

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