Page 42 - Insurance Times July 2016

premium, terms and conditions for Professional Liability The patient expects the doctor and his subordinates to
Insurance for other group of professionals like solicitors/ adhere to certain professional standards and skills that
barristers, chartered accountants, architects, would prevent undue harm and distress to patients.
engineers, management consultants etc.? Negligence on the part of the doctor or his associates while
performing his duties as a professionals is malpractice,
To get answers to all such questions, you must read this which causes breach of duty of care by the doctors inviting
article on Professional Liability Insurance. the case of civil or criminal wrong depending upon the
nature of breach of duty or negligence which will involve
Professional Liability Insurance covers Professional legal liabilities.
negligence, which is a breach of the duty of care by
professionals towards their clients and third party in their If it is civil wrong or negligence, the Professional Liability
professional practice. The duty of care is a requirement Insurance will cover such liability. In almost all professions,
under common law (law of torts) where the clients and the the professionals are exposed to huge risks of negligence
beneficiaries (third parties) expect a level of professionalism for which they need adequate professional liability
and standards of service from the professionals in the insurance to manage the legal consequences arising from
respective fields of profession. In medical profession the the risks of negligence.
most common term for medical negligence is medical
malpractice frequently talked about now a days. To be continued in Next Issue

LAMP Asia 2016 - a flagship event on insurance, investment and

finance

LAMP Asia 2016 will be held from 7 to 9 August 2016 at Bangkok Convention Centre, Thailand which would be the
region's premier event for leaders in the insurance, investment and financial services industry. More than 1,500 field
leaders and industry executives will be present at the event and speak on topics ranging from business strategy,
recruiting and retention, performance coaching to sales and marketing.

Insurance Quiz

Q1. Who is the Group CEO and Director of Bajaj Capital?
Q2. United India Insurance completed a premium of _______crores for the year growing at over 14.58%.
Q3. Who won the prestigious Dalal Street Investment journal Award 2015 for 'Highest growth in Reserves'?
Q4. Bupa Health Shareholding increases from 26% to 49% in ______ insurance company.
Q5. Who has been selected as the brand ambassador of Exide Life?
Q6. Reliance Life Insurance's Chief Executive of three years, ________ has quit the company.
Q7. Bank of India has sold _____stake in its Life Insurance venture Star Union Dai-Ichi Life Insurance.
The answers of the quiz are from this issue itself. Just go through our journal and you will find the answers. Send your
answers by Email to info@sashipublications.com and you can get a chance to win an attractive gift. The gift will be
offered to the person giving all the correct answers. If we receive more than one entry with all correct answers the name
of winner will be drawn from lottery. The last date of receipt of entry is 26th July, 2016.
So Hurry and Submit your entry at the earliest !!!!

42 The Insurance Times, July 2016