Schemes limiting liability of members

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Schemes limiting liability of members

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Key dates & requirements by state

The liability capping framework and PI reform process

Operation of the Institute schemes

What liability is capped

Who benefits from the cap

PI cover required

Disclosure required

FAQs re schemes

Glossary

Reporting obligations to the PSC

Explaining the liability capping schemes to your clients - Sample letter

This information regarding the Institute’s Limitation of Liability Scheme/s is a general guide only. It is not intended as professional advice, and you should rely on your own inquiries and assessment and other suitably qualified and specific professional advice.

The Institute expressly disclaims all liability for any loss or damage arising from reliance upon any information in guide.

Important message: liability capping reporting requirements
All firms need to supply insurance and claims data to the Institute. This information will be reported to the Professional Standards Council in an aggregated format to preserve confidentiality. This reporting is a legislative requirement for the liability capping schemes. More>

Last Updated: 4 November 2008