FICPI Conference Insurance Sean Cray Regional Manager 26 July 2008

Professional Indemnity Insurance Content Part One Professional Indemnity Insurance Part Two Incorporation and Insurance Mark to introduce the topic with a progress update Emphasis the use of talent outside the traditional back-office areas

Part One Professional Indemnity Insurance IP Australia’s Proposal What effect will it have When will it be introduced

Professional Indemnity Insurance Continued… Mandatory Insurance Minimum Set Standards What is appropriate / adequate cover

Professional Indemnity Insurance Continued… Risk Profiling Key Considerations Limit of Indemnity Excess Coverage Exclusions Endorsements

Professional Indemnity Insurance Continued… Insurers What Insurers look for: Good Risk Management North American Exposure Your Clients Industries

Professional Indemnity Insurance Continued… Dual Insurance Companies who already purchase PI for non patent work (i.e. Legal Practices).

Part Two Incorporation - Insurance needs Basic Insurance needs Why Insurance Insurances to be considered Professional Indemnity Directors & Officers Liability / Management Liability

Other Insurance considerations Key Person Insurance Succession Planning

Questions