Engineered For You

Citadel Insurance plc in collaboration with the Chamber of Engineers recently organised a seminar on professional indemnity insurance entitled 'Engineered For You'.

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.

Citadel Insurance plc chairman Joseph N. Tabone 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."

Chamber of Engineers president Helga Pizzuto spoke on the importance of professional indemnity insurance for the engineering trade and the need to look at the implications of this product.

Other presentations were delivered by representatives of Allianz SE, Munich and Andrew Muscat of Mamo TCV Advocates.

While describing professional indemnity cover, an Allianz representative also noted some unique aspects that apply to the policy covering engineers, and illustrated how insurers calculate and assess professional indemnity risks for engineers.

Prof. Muscat 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.

The seminar was concluded by a question and answer session headed by Citadel Insurance plc CEO Angela Tabone.