The Chubb Elite PI product is designed to provide protection to a professional body or entity (other than a financial institution) for civil liability loss arising from the professional services that are offered to its clients or customers.
Covered person: Both the professional body or entity and its employees.
Covered act: Any act, error, omission arising from the professional services or business provided. The cover includes the conduct of any person for whom the insured is legally responsible.
Covered loss: Defense and investigation expenses (legal and professional), and amounts awarded by a court as damages or agreed to in a settlement.