Professional Liability

Professional Liability insurance addresses the financial constraints brought upon by defense costs and inquiry attendance expenses among others. Click below to learn more about its extensive coverage. 

Broad covers for Professional Liability

It covers breach of duty (which is the core exposure), negligent acts, errors, omissions, misstatements, misleading statements, breach of warranty of authority committed in good faith, or breach of confidentiality which occurs in the performance of - or failure to perform professional services.

Defamation

It covers both libel (written defamation) and slander (verbal defamation).

Intellectual property rights

It covers liabilities arising out of the unintentional infringement of intellectual property rights, including copyrights, trademarks, service mark or service name, infringement of titles or slogans, misappropriation of ideas. (Trade secret and patent are not covered.)

Defense costs

It covers reasonable fees, costs and expenses incurred by or on behalf of the Insured in the investigation, defense, adjustment, settlement or appeal of any claim.

Inquiry attendance expenses

It covers the amount payable in respect of days in court as an actual witness.

Loss documents

It covers similar to that provided in Material Damage (property) policies and the Care Custody and Control cover often provided under General Liability. It applies where there has not been a professional breach of duty but nevertheless it is held that the Insured has a legal liability to their client.

Automatic subsidiary coverage

It covers newly created or acquired subsidiaries automatically as long as they fulfill three criteria: i. Revenue of subsidiary less than ten percent of the total gross revenue of Insured; ii. No revenue generated from USA/Canada; iii. Professional services are the same as Insured.

Extended reporting period (90 days)

If the Insurer cancels the policy, other than non-payment of premium or breach of terms on the policy, the Insurer has up to 90 days following the date of cancellation or expiry to give notice of any claim first made against the Insured during the policy period.

When you buy insurance from AIG, you can have confidence that we stand ready to help you recover quickly when the unexpected happens. The claims operation that underpins every AIG policy is one of our greatest strengths, with a strong local claims team backed by our global network of expertise to support you when you face a loss.

For claims associated with Professional Liability Insurance, please reach out to your insurance broker to assist you. The client must report in writing to AIG as soon as practicable and within the Policy Period. Potential facts or circumstances that may lead to a claim should be reported prior to the expiry of the Policy Period.

You may also contact us at:

Phone: +63 2 8 878 5456

Email: phlweserve_CML@aig.com  and financiallines.phl@aig.com

Find below to learn about the necessary details needed in order to submit a claim.

Claims should be notified in writing to AIG’s Claims department. Potential claims or circumstance should also be notified to AIG.

Notice should include:

• How, when and where the alleged breach of duty took place
• Names and addresses of any witnesses
• Nature and location of any injury or damage

The Insured must record the specifics of the claim and the date the Insured received it and send AIG copies of all demands, suit papers and other legal document that the insured receives as soon as possible.