|Seminar on Professional Indemnity Insurance for Engineers|
Citadel Insurance plc in collaboration with the Chamber of Engineers recently organised a seminar on Professional Indemnity Insurance, entitled “Engineered For You,” for a packed delegation of professionals, mostly comprised of those in the engineering profession.
Professional indemnity insurance offers protection for claims for compensation made against professionals for negligence, errors or emissions that have been made in the conduct of their business.
Joseph Tabone, chairman of Citadel Insurance plc opened the seminar and stressed the company’s focus on designing innovative products especially, “…custom designed products and services which reflect the particular requirements of the various sectors of economic activity for which we provide insurance.”
This was followed by Ing. Helga Pizzuto, president of the Chamber of Engineers, who spoke on the importance of professional indemnity insurance for the engineering profession and the need to look at the implications of this product.
The seminar’s presentations were delivered by specialists in the field from Allianz SE, Munich and Prof. Andrew Muscat LLD of Mamo TCV Advocates. While describing professional indemnity cover, the Allianz representatives, noted also some unique aspects that apply to the policy covering engineers and illustrated how insurers calculate and asses professional indemnity risks for engineers. The Seminar also addressed factors that are especially relevant for an insurance company. From the local perspective, Prof. Andrew Muscat, LLD, discussed the implications of local legislation and its relevance for those in the engineering trade. He differentiated between civil and criminal liability, while also explaining the various ways that engineers may be held legally liable for works that they have carried out.
Finally, the seminar was closed, following an animated question and answer session, by Angela Tabone, CEO of Citadel Insurance plc.
Source: Malta Media - 05/12/2008
|Last Updated on Friday, 12 December 2008 11:14|