The Intellectual Property Regulatory Board (“IPReg”) expects all practitioners to have a level of insurance cover commensurate with the value of work they do.
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The minimum limit of professional indemnity cover offered by PAMIA is £250,000.
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The maximum limit of cover offered by PAMIA is £5,000,000.
PAMIA offers cover on ‘an each and every claim’ and ‘an aggregate basis’. Thomas Miller can also arrange higher limits of cover through its partnerships with established brokers.
Terms of cover
The full terms of the cover are set out in PAMIA’s Rules and Terms of Cover which can be found on our Downloads page.
Deductibles
Members can opt for lower or higher deductibles, which will result in a different level of premium. The deductible is only applied to claims payments, and is not applied to notifications or advice, which are all a complimentary part of the service.
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The minimum deductible offered by PAMIAis £500 per claim.
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The maximum deductible offered by PAMIA is £7,500 per claim.
Premiums
Each member’s premium will differ depending on the factors above, the size of the practice and the type of work undertaken.
Each member’s premium is calculated in accordance with a common rating structure, which takes account of individual fee income and the nature and level of cover they require.
Ready to Apply?
If you would like to apply, please ensure you have read and understood the Membership Rules.
If you don’t meet all the criteria, but feel you may still wish to join, please contact us to discuss your individual case.