It’s important for everyone that the sum insured is adequate

by Prof Cover on Monday, March 25, 2013

It is obviously bad news for the insured and their broker when they receive a claim on a policy where the sum insured is inadequate; it brings no joy for CGU Professional Risks either. It is also an unwanted surprise for the insured’s client to discover that his or her professional adviser did not have adequate insurance to cover the loss.

It is bad news for everybody, and that’s why it is so critical that careful consideration be given to the adequacy of the selected sum insured when renewing or taking out a new policy.

 

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