Insurance

The CII's insurance provision automatically include local institutes' property damage including regalia, public and products liability, business interruption and Directors & Officers.

Details of the full cover are circulated to all institutes after renewal each year, and there is a charge to each institute based on membership size and whether they have any paid for employees.

Updated insurance verification letters for the forthcoming insurance period can be downloaded below.

All local institutes are covered for civil liability under the Professional Indemnity policy; Directors and Officers liability under the Directors and Officers Liability Policy and Employment Practices liability under the Directors and Officers Liability Policy.

The following is covered:

Professional Indemnity: The loss that the policyholder is personally and legally liable to pay on a claim – includes defence/investigation costs, damages, judgments, interest, claimant’s costs and settlement sums – subject to policy limit of £5m. Exclusions include fines and penalties; punitive; exemplary or aggravated damages, contributions (excess) of £50,000 or £5,000 (claim specific).

Directors and Officers Liability: The loss of an Insured Person- subject to policy limit of £5m. Exclusions include fines/penalties and losses uninsurable under English Law.

Employment Practices Liability: The loss of an Insured Person - subject to policy limit of £2m. Exclusions include fines/penalties; matters uninsurable under English Law and future salary following reinstatement; and deductible (excess) of £5,000.

Whilst it should be noted that there exists a potential safety net of insurance cover for discrimination claims brought against local institutes, that is not to say that significant efforts should not be made to improve the education and offering of a local institute council members in discrimination matters in order to fully minimise the risk of potential issues or claims arising.

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