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Professional Indemnity for DMA Members
DMA members can take advantage of PIMS-SCA’s 20% discount on their current Professional Indemnity Policy for the next three years together with Industry-tailored policy wording.
A pioneer of specialised Professional Indemnity schemes for Marketing Professionals and Trade Associations, PIMS-SCA have been providing a range of Insurance Services to the Marketing Industry for over 20 years.
PIMS-SCA understands that different organisations have different and changing needs, therefore tailor their innovative products to suit client requirements.
Most Professional Indemnity policies require that a third party claim be made for a loss, which for the Media Industry would almost always be financial loss, arising as a result of the neglect, error or omission of the Insured.
In reality, Media Professionals will normally be in a position to fix the problem before their client ever finds out about the problem. Alternatively, they might waive an outstanding bill or issue credit notes so as to preserve commercial relations with their clients.
The end result is no third party claim for damages and therefore, under most wordings, no valid Professional Indemnity claim.
For this reason, it is essential that Media Clients are not treated as a standard Professional Indemnity risk and that a suitable Media Wording is offered, which gives rectification and irrecoverable fees cover.
These heads of cover are often referred to as ‘first party’ cover and require specialist claims attention.
There are not many insurers who give the cover and some that do, cannot give the claims service required, as immediate decisions are required and there is often insufficient time to get the details in writing.
Members are eligible for this exciting offer provided that:
- Turnover has not increased by more than 20%, last year.
- They have not made any claims, potential claims or circumstances in the last three years.
- There have been no changes to the ownership or principal structure.
- There has not been a material change in the type of work carried out from that declared in the previous year’s proposal form.
- There is no other material change to the risk.
- They are not aware of any claims or circumstances which might lead to a claim.
The PIMS-SCA Professional Indemnity Insurance Policy is subject to a minimum premium of £1,000.
For further information contact Mathew Morrison at PIMS-SCA at mathew@pims-sca.com, or phone 020 7434 3046.
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