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Like most Liability insurance policies available in the Australian market Professional Indemnity insurance policies usually contain an industry standard clause that has the effect of excluding cover for claims arising out of liabilities assumed by the Insured under agreements or contracts. The intention of these clauses is to limit the indemnity provided under the policy to the Insured’s common law or statutory liability. Therefore if you assume additional liabilities (beyond common law or statute) under a contract with your clients or other parties you may find that your insurer will not indemnify you for the additional “assumed liabilities”.

Such assumed liabilities may not be clear under the contract with contractual liabilities being imposed in a variety of ways including waiver of recovery rights in addition to the more obvious indemnity or “hold harmless” clauses.

A limited number of insurers will agreed to cover certain types of “assumed liabilities”, if you require cover for these please call us to discuss.



Specialist Insurance Brokers