Citadel Insurance, in collaboration with the Chamber of Engineers, recently held a seminar on professional indemnity insurance, entitled “Engineered For You”, for professionals, mostly those in the engineering profession.

Professional indemnity insurance offers protection for claims for compensation made against professionals for negligence, errors or omissions that have been made in the conduct of their business.

Citadel Insurance chairman Joseph Tabone opened the

seminar and stressed the company’s focus on designing innovative products especially, “…custom-designed products and services which reflect the particular requirements of the various sectors of economic activity for which we provide insurance.”

He was followed by Ing. Helga Pizzuto, president of the Chamber of Engineers, who spoke on the importance of

professional indemnity insurance for the engineering profession and the need to look at the implications of this product.

The seminar’s presentations were delivered by specialists in the field from Allianz SE, Munich and Prof. Andrew Muscat of Mamo TCV Advocates.

While describing professional indemnity cover, the Allianz representatives also noted some unique aspects that apply to the policy covering engineers and illustrated how insurers

calculate and asses professional indemnity risks for

engineers.

The seminar also addressed factors that are especially relevant for an insurance company. Prof. Muscat discussed the implications of local legislation and its relevance to those in the engineering business. He differentiated between civil and

criminal liability, while also explaining the various ways that engineers may be held legally liable for work they have

carried out.