Freelance & Contractor Professional Indemnity Insurance from Kingsbridge Professional Solutions

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Accident

Means a sudden, unexpected, unusual, specific event which occurs at a specific time and place, but shall also include exposure resulting from a mishap to a conveyance in which an Insured Person is travelling.

Bodily injury

Death, injury, illness, disease or nervous shock.

Cover

Insurance or reinsurance as it applies to one or more specific risk exposures.

Directors and Officers

Directors and Officers Liability Insurance provides financial protection for you as the director of your company in the event you are sued in conjunction with the performance of your duties as they relate to the company.

Employee

Any person who is:

i. employed under a contract of service or apprenticeship with you
ii. a labour master or person supplied by him
iii. employed by labour only sub-contractors
iv. self-employed and working for you and under your control
v. hired to or borrowed by you
vi. supplied to you for the purpose of study work or training experience
vii. a prospective employee who is undergoing practical work experience whilst being assessed by you as to his or her suitability for employment
viii. a voluntary helper while working under your supervision and control and in connection with the
business
ix. an outworker or home worker employed under a contract to personally carry out any work in connection with the business while they are engaged in that work.

Employers' Liability

Employers Liability provides protection against claims from employees for legal liability in respect of injury or disease which arise in the course of their work and for which you are deemed to be responsible. Employers Liability insurance is a compulsory insurance for all employers with limited exceptions in law.

Exclusions

A term in an insurance or reinsurance contract that excludes the insurer or reinsurer from liability for specified types of loss. An exclusion may apply throughout a policy or it may be limited to specific sections of it. In certain circumstances an exclusion may be limited or removed altogether following the payment of an additional premium.

Insurance

A contract whereby an insurer promises to pay the insured a sum of money or some other benefit upon the happening of one or more uncertain events in exchange for the payment of a premium. There must be uncertainty as to whether the relevant event(s) may happen at all or, if they will occur (eg death) as to their timing.

Jurisdiction

A clause in an insurance or reinsurance contract which states to which territory's courts any contractual dispute shall be referred for resolution.

Liability

The obligation to pay a monetary award for injury or damage caused by one's negligent or statutorily prohibited action.

Limit of Indemnity

Another term for policy limit. It refers to the maximum amount payable under a policy of insurance or reinsurance, either overall or with reference to a particular section of a policy.

Offshore

From the time of embarkation by an employee onto a conveyance at the point of final departure to an offshore rig or offshore platform until disembarkation by that employee from a conveyance on to land upon return from an offshore rig or offshore platform.

Period of insurance

The period from the effective date shown in the schedule until midnight on the expiry date shown in the schedule. This includes any subsequent period for which we may accept payment for renewal of this policy.

Permanent Total Disablement

Means disablement which entirely prevents an Insured Person from undertaking his usual business or occupation and which lasts 12 (twelve) months and at the expiry of that period is beyond hope of improvement.

Personal Accident

A type of insurance which provides for the payment of specified sums in the event that the insured suffers some bodily injury as a result of an accident.

Policy

The wording of a contract of insurance or reinsurance.

Premium

The amount charged by an insurer or reinsurer as the price of granting insurance or reinsurance cover, as stated before or after the subtraction of brokerage and other deductions.

Products

Any tangible products or goods (including containers, labeling, instructions or advice provided in connection therewith) which are manufactured, sold, supplied, erected, repaired, altered, treated, designed, tested, installed, formulated, constructed or serviced by you in the course of the business.

Products Liability

The liability for bodily injury or property damage incurred by a merchant or manufacturer as a consequence of some defect in the product sold or manufactured.

Professional Indemnity

As a professional, the design, advice or specification you provide in the course of your business will be relied upon by others. Professional Indemnity (PI) insurance covers you against any errors or bad advice which you give could lead to financial loss from those relying on your advice