JLT to provide indemnity to property professionals

JLT has partnered with the Australian Property Institute (API) to launch API ValCover – a tailored and comprehensive Professional Indemnity insurance scheme to benefit professionals in the property market.

Debbie Gibson, Managing Director, JLT Affinity said, “JLT is delighted to partner with API. Our specialist Professional Indemnity team have worked closely with API to identify member risks, collaborate on strategic goals and create a comprehensive member-focused scheme.”

API is the leading membership organisation for property professionals with some 8000 members. JLT is the exclusive intermediary, with Lloyd’s of London backing the scheme through the underwriting agency, Woodina Underwriting.

Mike Zissler, CEO, API said, “Insurance is a logical progression to introduce which is a major cost to members, particularly Professional Indemnity insurance.”

API ValCover offers Professional Indemnity insurance that is APIV Capping Scheme compliant for indemnity limits ranging from $1 million to $10 million. $500,000 legal costs are provided in addition to the limit selected.