Professional Indemnity Insurance for PSPs Quiz
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Question 1 of 10
1. Question
Under which principle can a professional be held responsible for the acts and omissions of their employees? CorrectIncorrect -
Question 2 of 10
2. Question
Which of the following does Professional Indemnity Insurance NOT cover? CorrectIncorrect -
Question 3 of 10
3. Question
What is the best course of action if a professional realises they have made an error that may give rise to a claim but where no claim has been made CorrectIncorrect -
Question 4 of 10
4. Question
A PI policy has a Retroactive Date of 1 Jan 2021. A claim occurs relating to an error that happened in June 2020. What is the most likely outcome? CorrectIncorrect -
Question 5 of 10
5. Question
Which ONE of the following is commonly EXCLUDED from a Professioanl Indemnity Policy? CorrectIncorrect -
Question 6 of 10
6. Question
If a licence holder retires, they must have Run Off Cover in place to protect against potential claims relating to past activities? CorrectIncorrect -
Question 7 of 10
7. Question
The PSRA require that licence holders have run off cover in place for how many years following expiry of the licence after retirement or sale of the business? CorrectIncorrect -
Question 8 of 10
8. Question
Which ONE of the following is NOT an essential ingredient to trigger a Public Liability Policy CorrectIncorrect -
Question 9 of 10
9. Question
Run off cover does not need to be in place when a business has been sold if? CorrectIncorrect -
Question 10 of 10
10. Question
An insurer can avoid a claim on a PI policy if the insured does not notify them of a claim promptly CorrectIncorrect