Au Bank Logo
search
mic
Au Bank Logo
search
mic
Au Bank Logo
search
mic
Au Bank Logo
search
mic
Au Bank Logo
Personal
Business
NRI
Premium

Choose An Insurance Option Based On Your Profession

Specialized Professional Liability
Computer Services and Software Developers Professional Liability Insurance Policy

Protection Against Financial Liabilities Towards Third Parties

Policy is given to the insured who renders professional service like consultation and advisory services for 3rd party legal liability in case of financial injury only

Scope Of Cover

Limit Of Insurance

Limit of Insurance can be max Rs75cr (our treaty limit) in Chola MS and subject to other treaty terms

Flexible Rates And Charges

Single Project-Based PI Policy

Enhance your protection coverage with rider options on payment of additional premium

Turnover in US/Canada

Turnover in US/Canada not to exceed 50% of total turnover (Chola MS treaty condition)

PG (Personal Guarantors)

PG (Personal Guarantors) as per contract are excluded from scope of cover

Extension Endorsement

Add-on covers are given which depends on case-to-case basis as per requirement and applicability

Indemnity

Indemnity is arrived as per Civil legal liability (Litigation in Civil or Commercial Court/ Arbitration/ Mediation)

Bodily Injury (BI)/ Property Damage (PD)

Additional Insured/ Waiver

Additional Insured/ Waiver of subrogation clause can be attached as and when required under contract

Limit of Liability

Mid-term increase/ decrease of Limit of Liability is not allowed

Disclaimers

Cholamandalam MS General Insurance Company Limited

(A Joint Venture between Murugappa Group & Mitsui Sumitomo Insurance Company Ltd., Japan) Regd. Office: Dare House, 2, II Floor, N.S.C Bose Road, Chennai - 600 001.

India. T: +91-44-4044 9100 | F: +91-44-4044 5550 | SMS 'Flexi' 56677* | E: customercare@cholams.murugappa.com

Trade Logo displayed above belongs to CHOLAMANDALAM FINANCIAL HOLDINGS LIMITED (formerly TI Financial Holdings Limited) and Mitsui Sumitomo Insurance Company Limited and used by Chola MS under License.

Specialised Professional Liability Policy

*SMS charges as applicable For more details on risk factors, terms and conditions, please read sales brochure carefully before concluding a sale. Terms and Conditions apply.

Prohibition of rebates 41. (1) No person shall allow or offer to allow, either directly or indirectly, as an inducement to any person to take or renew or continue an insurance in respect of any kind of risk relating to lives or property in India, any rebate of the whole or part of the commission payable or any rebate of the premium shown on the policy, nor shall any person taking out or renewing or continuing a policy accept any rebate, except such rebate as may be allowed in accordance with the published prospectuses or tables of the insurer: (2) Any person making default in complying with the provisions of this section shall be liable for a penalty which may extend to ten lakh rupees. CIN: U66030TN2001PLC047977 | IRDA Regn. No.123 | UIN: IRDAN123RP0049V01200203 | UAN: CMS/BANCA/AUSF/COMMERCIAL/SPL/WEBSITECONTENT/ENGLISH/DIGITAL/3360/NOV2022

AU Small Finance Bank Limited ("AU Bank") with registered office at 19-A, Dhuleshwar Garden, Ajmer Road,Jaipur- 302001, Rajasthan (CIN: L36911RJ1996PLC011381) is a corporate agent (Composite, IRDAI Reg No.: CA0515 valid till 30/08/2026) of Cholamandalam MS General Insurance Company Limited.

The purchase by AU Bank’s customer of any insurance products offered by Cholamandalam MS General Insurance Company Limited is purely on voluntary basis and the policy is not a linked product of any other facility offered by AU Bank. Tel: 1800 1200 1200 / 1800 26 66677.

The insurance products offered here are underwritten by Cholamandalam MS General Insurance Company Limited. Please seek the advice of your insurance advisor if you require any further information or clarification. The advertisement contains only an indication of cover offered.

Things to know

Eligibility

  • Policy is given to the insured who renders professional service like consultation and advisory services for 3rd party legal liability in case of financial injury only
  • Second variant of the policy (Computer services) is given to IT/ITs companies. It is also known as Technology Error & Omission in generic parlance.

Rates & charges

Rate depends on nature of professional service; Limit of Liability; Revenue, nature of the clients; contract size/ contract value/ tenure of different contracts if consultation/ advisory services are contractual in nature; territory of operation and jurisdiction; policy excess agreed other than standard excess and several other intangible factors (exposure-based rating and no tariff exists, or internal GLM(general linear model) rating engine is available)

See all

Try saying something

Search by filters

mic

Why AU

  • <p>National presence</p>

    National presence

    Bank with us across 1042 branches & ATMs.

  • <p>Get a bit more</p>

    Get a bit more

    Enjoy quality services at competitive rates.

  • <p>Visit branches without the wait</p>

    Visit branches without the wait

    Our ample touchpoints ensure all our customers are conveniently served.

  • <p>Superfast app</p>

    Superfast app

    Manage and track all your transactions on the AU 0101 App.

  • <p>Sustained growth</p>

    Sustained growth

    Expanding by every quarter, with a balance sheet of over ₹1 lakh crore.

Bank anywhere anytime, on the AU 0101 
mobile app

  • View balance and transactions View balance and transactions
  • Download account statement Download account statement
  • Request cheque book Request cheque book
Download the app
30 lakh customers banking on app

Not sure which product is right for you?

  • Personal assistance
  • No spam

Customer support

24x7 help

Get support
kkakaka

Great things are best enjoyed together

Refer this account to your friends and family.

Share

Scope of cover

  • icon

    Unintentional negligence or breach of duty of care in professional service carried on by or on behalf of the Insured by way of any negligent act, error or omission committed or alleged to have been committed on the part of the Insured leading to actual CIVIL Liability thereof for compensatory damages

  • icon

    Cost and expenses incurred with the written consent of the Insurer to defend any claim

Flexible rates and charges

  • icon

    Rate depends on nature of professional service; Limit of Liability; Revenue, nature of the clients; contract size/ contract value/ tenure of different contracts if consultation/ advisory services are contractual in nature; territory of operation and jurisdiction; policy excess agreed other than standard excess and several other intangible factors (exposure-based rating and no tariff exists, or internal GLM(general linear model) rating engine is available)

Single project-based PI policy

  • icon

    Single project-based PI policy can be given to project Principal/ contractors/ sub-contractors for a multiple year period (max 7.5years that includes construction, maintenance / DLP(Defects liability period)).

  • icon

    UW(Underwriting) considerations are almost same.

Bodily Injury (BI)/ Property Damage (PD)

  • icon

    Bodily Injury (BI)/ Property Damage (PD) is general exclusion but carve back is available when it arises out of professional service (for example in case structural/ design engineers or maintenance contractors where negligence can lead to such BI/PD liability) offered on case-to-case basis and not blanket cover
Download AU 0101 - Digital Banking app
Image Alt Text one Image Alt Text to
PCI DSS Security Compliant
Security Image Alt
Registered with DICGC
DICGC Image Al
© Copyright AU Small Finance Bank Limited
Disclaimer Privacy Policy