No Fault no excess

The Delta policy wording for Professional Indemnity and General Liability contains a ‘cost exclusive’ excess – this means that you will only pay the policy excess if the claim is defended successfully.

There is also no limit on the defence costs, whereas most other insurers either limit the defence costs or they are included in the limit of indemnity.

For example, some insurers will provide a $1M limit of indemnity which will need to cover all costs associated to a claim, so if the defence costs end up being $600,000, then there will only be $400,000 left to indemnify the third party that is claiming against the insured, this can lead to you being exposed if the amount to settle the claim is over $400,000.

With the Delta policy this is a non-issue regardless of the accusations being upheld or defended, you will have more than enough cover.