Original press release - October 2016
COT has made some significant enhancements to the professional indemnity insurance (PII) policy that it offers to members, which took effect from 1 October 2016.
Following a lengthy six-month consultation and tender process, a number of enhancements have been made to the policy, including cover for all members whether employed or self-employed, but not for their employer, and an increase in the cover provided to £6 million per member.
Additional provisions include the ability to obtain top up cover if required, for example for medico legal work, at members’ own cost, the removal of the current self-employed earnings limit, and the provision of the policy now being provided on a claims occurring basis, rather than as previously, on a claims made basis.
The policy is offered with COT’s current insurance provider Novae, via the broker AON. This is just a summary of the key changes, so for further details, including full details of the cover and the COT briefing note on professional indemnity insurance, download the guidance below.
Full details on the enhanced provisions offered by the new policy will be made available in OTnews next month.