SAGI-SURE PI Insurance

Professional Liability insurance is an essential coverage for business owners. The SAGI Professional Indemnity and General Liability Policy has been created exclusively for SAGI Members to help protect our professional members and their clients by providing financial compensation for damages and legal expenses that may arise as a result of errors or omissions, as well as any general liability exposure that can occur in the performance of your business activities.

As a society, South Africans are becoming increasingly litigious with greater awareness of rights of recourse and recovery as enshrined in various legislation, including The Consumer Protection Act – as such, every business can face such claims during normal operations and without coverage, you’d have to pay out of pocket to cover claims, which can put your business at financial risk.

Whether you are negligent or not, you will still have an obligation to incur the significant costs in defending any legal action brought against you and the premise of this policy is to stand in your shoes and defend any legal action or negotiate and pay a settlement on your behalf.

Should you already have Indemnity/Liability Insurance, we would caution against reducing limits on the basis that the purchased limits of SAGISure are “costs inclusive” i.e., they include any legal, investigation and other costs. Being cognisant of legal and other costs and expenses nowadays, it is often these costs which will “consume” the bulk of the policy limit, and as such, this limit could quickly be eroded and exhausted in paying legal and other indemnifiable costs prior to any settlement of the capital amount of a successful claim. 

Members are urged to complete the  Proposal Form and forward to COMMRISK Insurance Brokers who will provide a quotation, as well as options on various increased limits and excess structures based upon your specific risk profile, insurance needs and requirements.