Overview
Professionals such as consultants, engineers, lawyers, accountants, and other service providers face increasing exposure to claims arising from errors, omissions, or professional negligence in the course of their work. Professional Liability Insurance plays a critical role in protecting professionals and their organisations against such risks.
This course provides a practical introduction to the principles and structure of Professional Liability Insurance, including the nature of professional risks, policy coverage features, and the key considerations involved in underwriting professional liability exposures.
Participants will develop a clear understanding of how professional liability policies operate, the types of claims commonly encountered, and the importance of risk assessment in managing professional service risks.
Who Should Enrol
This course is designed for professionals involved in commercial and professional risk insurance, including:
- Insurance underwriters handling professional risks
- Insurance brokers and intermediaries serving professional clients
- Insurance agents involved in commercial insurance distribution
- Risk and compliance professionals
- Claims professionals managing professional liability claims
- Professionals seeking to strengthen their understanding of professional liability insurance
What You Will Learn
Participants will gain practical knowledge and understanding of:
- The nature of professional liability risks and exposures
- The purpose and role of professional liability insurance
- Key policy features, coverage structures, and exclusions
- Common types of professional liability claims
- Underwriting considerations for professional liability risks
- Best practices in managing professional liability exposures
Learning Pathway
This course forms part of the IIEA E-Academy Learning Pathway Framework™ for Advanced Insurance Professionals, designed to strengthen technical expertise across key areas of insurance practice.
Certification
Participants who successfully complete the course requirements will receive a Certificate of Achievement recognising their successful completion of the programme.
This course complements other specialised commercial insurance programmes such as:
- Industrial All Risk Insurance (IAR)
- Engineering Insurance Fundamentals
- Cyber Risk Insurance Fundamentals
and helps build technical expertise in complex liability and professional risk insurance.
Learning Outcomes
After completing this course, you will be able to do the following:-
- Explain why businesses and individuals in certain occupations need professional liability insurance Identify the areas of law under which professional liability claims may arise;
- Describe defenses that may be used against a professional liability claim, including defenses that apply only to certain professions;
- Describe the types of errors that may lead to professional liability claims;
- Discuss the duties professionals owe to their clients, including duties that apply only to certain professions;
- Explain how a professional’s standard of care is determined and the sources and methods that may be used to make this determination;
- Describe the legal theories that allow third parties to file claims against professionals;
- Discuss policy provisions that are included in most types of professional liability policies; and
- Summarize key features of professional liability policies developed for specific occupations and business risks, including how these features differ from other types of professional liability policies.
Course Outline
- 2.1: Professionals and Professional Liability Insurance
- 2.2: Types of Professional Liability Policies
- 2.3: General Duties of Professionals
- 2.4: Defenses Against Professional Liability Claims
- 3.1: Insuring Agreement
- 3.2: Conditions
- 3.3: Exclusions
- 4.1: Overview of Insurance Producers Professional Liability
- 4.2: Insurance Producer Errors and Omissions Policy Provisions
- 5.1: Overview of Architects and Engineers Professional Liability
- 5.2: Architects and Engineers Professional Liability Policy Provisions
- 6.1: Overview of Lawyers Professional Liability
- 6.2: Lawyers Professional Liability Policy Provisions
- 7.1: Overview of Physicians Professional Liability
- 7.2: Physicians Professional Liability Policy Provisions
- 8.1: Overview of Directors and Officers Liability
- 8.2: Directors and Officers Liability Insurance Policy Provisions
- 9.1: Overview of Fiduciary Liability
- 9.2: Fiduciary Liability Insurance Policy Provisions
- 10.1: Overview of Employment Practices Liability
- 10.2: Employment Practices Liability Policy Provisions
