Professional Indemnity Insurance

The Insured operates a real estate agency. One of the property managers, by accident, renewed a client’s building insurance instead of their landlord insurance policy. The tenants of that particular address vacated that property whilst in rental arrears and left the home in poor condition. The agent was unable to recover the unpaid rent and the owners were left out of pocket. In addition they were unable to undertake repairs on the building which in-turn resulted in the property remaining vacant.

The Insurer paid $4262.46

The provision of the claims examples are for illustrative purposes only and should not be seen as an indication as to how any potential claim will be assessed or accepted. Cover for a claim will depend on the specific circumstances around the loss and would be subject to the terms and conditions of the policy concerned.

As with any insurance, cover will be subject to the terms, conditions and exclusions contained in the policy wording. The information contained in this email is general only.  Coverage for claims on the policy will be determined by the insurer, not BizCover for Brokers, and will depend on the specific facts and circumstances involved.