SPECIALTY LINES
Professional Indemnity
CTA has long history and extensive expertise in handling major and complex Professional Indemnity claims worldwide. We handle PI claims made against a broad range of professionals, including: Architects, Surveyors, Engineers, Accountants, Auditors, Brokers, Lawyers, Medical and Paramedical professions, IT providers, Private Equity investors, Asset Managers and Real Estate services providers, Stockbrokers, Financial Promoters, Public Officials and other miscellaneous PI professions.
Key Contact
E: nicholas.lastella@charlestaylor.com
M: +39 340 069 2602
E: andrew.jackson@charlestaylor.com
M: +44 7979 850 240
E: anne-celine.francisco@charlestaylor.com
M: +33 153 43 0030
Our approach is proactive, solution-oriented and cost-effective. During the adjustment process, our aim is to achieve the best possible outcome of each claim. This includes a comprehensive investigation of circumstances, assessment of quantum, legal liability and policy liability, providing advice on reserving and on claims handling strategy.
We identify opportunities for early resolution of claims (where appropriate) before any legal proceedings are initiated, for obtaining contributions and/or recoveries from other potentially liable third parties as well as undertake negotiated settlements. We can also issue coverage responses, reservations of rights letters and send declinature letters, where instructed to do so.
Our handling of PI claims aims to ensure a smooth process from first notification through to conclusion, by corresponding promptly with Insureds, their lawyers and/or experts, making direct contact with Claimants when circumstances require, undertaking site visits or meetings as necessary and by ensuring that brokers (local and placing) are always kept up-to-speed on developments, to the extent agreed by Insurers.
When claims involve litigation we can review the proposed legal defence costs budgets, liaise with the Insured’s lawyers to assess their intended defence strategy and monitor and report to Insurers on developments.
If Insurers are summoned to proceedings by the Insured, we can help with the appointment of legal advisors and other experts, assess costs and budgets and collaborate with Insurers’ lawyers to devise the best possible defence strategy to safeguard Insurers’ interests, including ensuring that Policy Liability considerations are raised within legal pleadings, before these are filed in Court.
Our widespread global presence coupled by our adjusters’ professional qualifications (including lawyers, engineers and accountants), multi-lingual capacity and tactful communication skills ensure that PI claims are handled swiftly and cost-effectively. We have a very solid understanding of the civil/tort, regulatory, contractual, administrative, accounting and criminal liabilities to which professionals will varyingly be exposed in a PI claim.
We also have expertise in assessing how cover under PI Policies functions in various scenarios, including knowledge about the importance of Proposal Form declarations, the mechanics of how “claims made” Policies, their insuring clauses, exclusions and general conditions work and interact. Ultimately, we tailor our service to the requirements of the claim and the needs of our instructing principals.
Case Examples
- Accountants:
Claims involving alleged negligence by the Insured in its capacity as Statutory Auditor and/or Supervisory Board Counsellor (especially in insolvency scenarios) and in its capacity as Tax consultant, Employment consultant, Fiscal and other social security benefits consultant, Advisor to M&A activities and other corporate operations as well as External Auditor (i.e. large consultancy firms).
- Architects, Surveyors and Engineers:
Claims involving alleged negligence by the Insured in its capacity as party responsible for Project Planning & Design, for Direction of Works, for Project Testing and as responsible for Site Management and Safety Coordinator.
- Lawyers:
Claims involving alleged negligence by the Insured owing to its alleged delays in filing pleadings, claims, appeals etc. within prescribed procedural deadlines. Omissions in filing required evidence within proceedings or in registering trademarks. Providing generally incorrect advice, delays in challenging employment dismissals and in opposing injunctions. Disciplinary proceedings before the Professional Roll.
- Brokers and Intermediaries:
Claims involving alleged negligence by the Insured owing to its alleged delay in placing cover, in obtaining adequate limits, retroactivity and other conditions, failure to promptly notify a precautionary claim / circumstance to Insurers.
- Medical and Paramedical Professions:
Claims involving alleged negligence by the Insured in its capacity as Surgeon, Dentist, Obstetrician, Gynaecologist, Radiologist, Oncologist, Nurse, specialist care provider as well as cosmetics providers, both in the private and in the public sector
- Financial Institutions:
Claims involving alleged negligence by the Insured in its capacity as Private Equity investment manager, Asset Manager and Real Estate services provider, Stockbroker, Financial Promoter, Private Banker, Special Services provider in respect of NPLs (non-performing loans) and Pensions Advisor / Administrator.
- IT Providers:
Claims involving alleged negligence by the Insured in its capacity as software developer, provider of technological services and/or products, supplier of web-hosting and system support.
- Public Officials:
Claims involving alleged negligence by the Insured in its capacity as Public Official, in the context of proceedings before a Courts of Auditors for having allegedly caused losses to the public purse, Administrative Court proceedings as well as Criminal proceedings.
- Other Miscellaneous PI:
Claims involving alleged negligence by the Insured in its capacity as agricultural sector consultant, postal services provider, certification entity of public works contractors, technical consultant for obtainment of “energy efficiency” state incentives, real estate agency services provider as well as publishing companies, newspapers and press agencies
Charles Taylor Adjusting’s Specialty Lines practice encompasses our Financial Institutions and Commercial Crime, Professional Indemnity, Directors & Officers, Cyber, Credit & Political Risks and Specie & Fine Art specialisms.