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Carrier
Brochure (pdf)
CPIP
Brochure(pdf) |
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| Scope of Cover |
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The policy provides indemnity to each insured member
of an association in respect of losses arising from any claim by reason
of any NEGLECT, OMISSION, or ERROR committed in the conduct of their
business as professional. It is designed to cover all professionals
in practice. |
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| Limit of Indemnity |
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As professionals, we would propose a limit of indemnity of N1million
for each member of a professional body. This means that for each year
a case of negligence is established, the limit of liability payable
by the insurance company e.g. if an estate firm of surveyors have
5 professional members of NIESV, it means that the limit of liability
for the firm will be N5million per annum. |
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| Premium Payable |
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The estimated premium payable is not expected to be higher than
N1,500 per member of a professional body per annum. This has been
arrived at by applying a standard rate of 0.15% per annum on the proposed
limit of indemnity of N1million |
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| Scheme Operators |
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The scheme is to be operated by the different professional bodies
under the umbrella of the association of professional bodies in Nigeria
on behalf of its members. We adopt flexibility in our operation and
shall be willing to negotiate the benefits accruing to each professional
firm and its members when the scheme commence. |
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