Professional Indemnity Insurance
Initial research carried out by the AEV established that many verifiers have insufficient insurance cover. In conjunction with Marsh UK Ltd, the AEV has developed an insurance facility underwritten by Chubb Insurance Company of Europe which offers peace of mind to members. Premiums will be included within the membership fee for all individuals joining the AEV, which will ensure consistency of coverage amongst our members.
What Cover is Provided?
Professional Indemnity - Limit of Indemnity - £100,000 per claim
This insurance arises out of legal duties owed to professional, client and other third parties. Claims can arise from breach of contract causing claimant to suffer damages arising from the professional failing to conform to the standard required
Cover provides for Breach of Professional Duty by reason of any neglect, error or omission
For example:
- A verifier produces a satisfactory report on a centre which is subsequently found to be claiming a qualification fraudulently
- A verifier does not agree with an assessor's decision regarding whether an awarding institution has met the performance criteria. This leads to the loss of an institution's accreditation to grant certain awards
- A verifier makes adverse comments about the quality of an assessors work. The assessor is subsequently dismissed from their employment
Limit of Indemnity - £1,000,000
Indemnity for members following damage to a third party's property whilst conducting assessment or verification duties.
For example:
- Whilst visiting a third party premises a verifier knocks a cup of coffee over a computer, carpet and desk and causes quantifiable damage.
- Whilst visiting a third party premises, a verifier used office equipment negligently, or fails to follow given instructions, or causes quantifiable damage.
Personal Accident
| Accidental Death | £10,000 |
| Loss of Eyes/Limbs | £10,000 |
PO Box 97, Wirral, CH63 OQX Telephone 0151 327 5007 - Fax 0151 327 8806 Contact us aev@ava.org.uk