Madison Money Market Fund
Daily Yield: 14.96%
Effective Annual Yield: 16.03%
Madison Fixed Income Fund
Daily Yield: 14.92%
Effective Annual Yield: 15.98%
Professional Indemnity For Clinical Officers
Every Clinical Officer practicing in Kenya, registered and licensed with the Clinical Officers Council in accordance with the Clinical Officers (Training, Registration and Licensing) Act, 2017, Laws of Kenya.
The Pl provides cover against legal liability claims that may arise as a result of errors or omissions, negligent act omitted or committed by the insured that may arise out of provision of professional services by the insured in their capacity as Clinical Officers.
The insurance also covers legal expenses incurred in defending the insured against the claimant subject to liability limits selected
- Regulatory/Compliance Requirement
- Decreased risk of being sued as a professional
- Standard of care owed by a professional is very high
- The standard of care is equated to the degree of skills he/she posses
Free Extensions (at 10% limits of liability)
- Loss of documents
- Libel & slander
- Flexible premium payment plan
This Insurance shall exclude the following:
- Liability for actions before inception of this policy.
- Criminal act or any act committed while in violation of any law or ordinance.
- Services rendered while under the influence of intoxicants or narcotics.
- Any negligence/omission that goes beyond the scope of the professional services.
- Insolvency/Bankruptcy
- Claim filed by any partner, employee, spouse against the insured under the policy.
- Bodily injury arising out of and in course of employment.
Premium And Payment Plan
Note:
Option 1: Diploma Holders
Option 2: Higher Diploma and Degree Holders
Deductible under the professional indemnity – 2.5% of the limit of liability minimum KES 40,000
Cash Installment
|
Limit of Liability (KES)
|
Total premium (KES) |
First Installment
|
Cash Plan
|
|
| Option 1 | Option 2 | |||
| 1,000,000 | 7,574 | 8,076 | 70% | Pay Full or 2 Installments (70%,30%) within 30 days |
| 2,000,000 | 13,099 | 13,600 | 40% | Pay Full or 3 Installments (40%,30%,30%) within 60 days |
| 3,000,000 | 14,084 | 16,149 | 40% | Pay Full or 3 Installments (40%,30%,30%) within 60 days |
| 4,000,000 | 19,413 | 22,544 | 40% | Pay Full or 3 Installments (40%,30%,30%) within 60 days |
| 5,000,000 | 24,959 | 29,200 | 40% | Pay Full or 3 Installments (40%,30%,30%) within 60 days |
| 10,000,000 | 55,905 | 66,335 | 40% | Pay Full or 3 Installments (40%,30%,30%) within 60 days |
Salary Check-off
|
Limit of Liability (KES)
|
Total premium (KES) |
1st Installment (KES)
|
Check-Off Plan
|
|
| Option 1 | Option 2 | |||
| 2,000,000 | 13,099 | 13,600 | 25% | Monthly Payments |
| 3,000,000 | 14,084 | 16,149 | 25% | Monthly Payments |
| 4,000,000 | 19,413 | 22,544 | 25% | Monthly Payments |
| 5,000,000 | 24,959 | 29,200 | 25% | Monthly Payments |
| 10,000,000 | 55,905 | 66,335 | 25% | Monthly Payments |
Calling all hard-working professionals.
We have a policy that ensures you’re covered against negligence acts in the course of performing your professional assignments.
- The policy provides indemnity for legal liability due to breach of professional duty for neglect act, error or omission committed or alleged to have been committed.
- The breach of the professional duty could be by the insured, his/her partners or the employees.
- The compensation is up to the limit of liability covered.
- Additionally, it covers legal expenses incurred in defending the insured against the claimant.
- Loss of Documents
- Dishonesty of Employees
- Incoming /Outing Partners
- Libel & Slander
- Any negligence/omission that goes beyond the scope of the professional services.
- The excess/deductible applicable to the policy.
- Insolvency/Bankruptcy
- Claim filed by any partner, employee, spouse against the insured under the policy.
- Bodily injury arising out of and in course of employment.
- Political violence and terrorism
- Qualification of the partners
- Period of experience in the profession .
- Number of partners
- Number of professionally qualified employees and others
- Limit of indemnity required- Per event and per year
- Estimated annual gross fees/Income
- Cover enhancement required – in case of extensions
- Previous claims history
Although Professional Indemnity can be provided for all professionals, we have a tailored policy that caters to Consulting Engineers. Take a look and apply today.
For consulting engineers, we understand that the nature of your work might leave you subject to legal and financial liability – which is why we believe this policy is suited for you.
Our policy indemnifies you from any claims of breach of professional duty – through negligent acts, error or omission by you, anyone under your employment, or anyone conducting business under your supervision during the period of work.
The policy also caters to any costs or expenses incurred in the defence or settlement of any claim.
For this policy, the geographical area is Kenya.
Take care of your business with Madison.
Although Professional Indemnity can be provided for all professionals, we have a tailored policy that caters to Valuers, Surveyors and Estate Agents. Take a look and apply today.
For valuers, surveyors and estate agents – we have a policy that takes care of you.
This policy indemnifies you against any claims of breach of professional duty – through any negligent act, error or omission by you, anyone under your employment, or anyone conducting business under your supervision during the period of work.
The policy also caters to any costs or expenses incurred in the defence or settlement of any claim.
For this policy, the geographical area is Kenya.
Take care of your business with Madison.
Lawyer’s Professional Indemnity Cover
Introduction.
In the legal profession, professional indemnity insurance is a vital safeguard that protects lawyers from potential financial losses and claims arising from professional malpractice. It is not only a precautionary measure but often a legal requirement. Understanding the policy, coverage, and benefits is crucial for navigating the complexities of this essential insurance.
The Policy
- Coverage: Professional indemnity insurance provides protection against legal liability resulting from the breach of professional duty due to negligent acts, errors, or omissions by the lawyer, their partners, or employees.
- Legal Expenses: It covers legal expenses incurred in defending the lawyer against the claimant.
- Compensation: The compensation is provided up to the limit of liability covered.
At an additional premium, the policy can be extended to cover:
- Loss of Documents
- Libel and Slander
- Incoming and Outgoing Partner
- Dishonesty of Employees
Premium payment plan
| Profession | Limit | Premium |
| Lawyer | KES 2,000,000 | KES 5,566 |
| Lawyer | KES 3,000,000 | KES 7,123 |
| Lawyer | KES 4,000,000 | KES 9,336 |
| Lawyer | KES 5,000,000 | KES 11,540 |
Information required
- Number of principal partners
- Their qualifications and period of experience in the profession
- Number of qualified staff
- Limit of indemnity required-Per event and aggregate
- Gross fee Income (Audited accounts)
- Previous claims history
- Number of other staff
What is Professional Indemnity Insurance for Lawyers?
Professional indemnity insurance for lawyers is a type of claims-made policy designed to provide financial support for defence costs in the event that a client sues them for failures in their professional services.
What Extensions are Available for PI Cover?
The policy can be extended to cover libel and slander, loss of documents, and dishonesty of employees.
How Can One Buy a PI Cover?
To purchase the cover, click on the “buy now” button above or dial *828# today.
For How Long is One Covered?
The coverage is valid for one year after purchasing the policy and can be renewed annually.
Who is Eligible for This Cover?
All lawyers and law firms can purchase this cover.
For more information and to purchase professional indemnity insurance, explore our website or contact us directly at 0793058608 or salesonline@madison.co.ke.
