Arbitrator Professional Indemnity Insurance

PI insurance for arbitrators generally covers claims arising from professional negligence in arbitration services. This may include award errors, procedural failures, bias allegations, and jurisdictional mistakes that affect enforceability or cause party losses. Coverage typically extends to legal defence costs and compensation, though policy terms vary between insurers.

PI insurance is an important consideration for practising arbitrators. Some arbitration institutions and appointing bodies may require or expect arbitrators to hold adequate coverage, and parties appointing arbitrators may request evidence of PI insurance before engagement. We can help you understand your options through our underwriter networks.

Common risks include award errors that affect enforceability, procedural failures that may provide grounds for setting aside awards, bias and impartiality allegations, jurisdictional errors, delays causing party losses, and failure to provide adequate reasons. The specific risks vary depending on the type and value of disputes you handle.

The extent of arbitrator immunity varies depending on jurisdiction, the type of arbitration, and the specific circumstances. Independent legal advice should be sought on immunity questions relevant to your practice. PI insurance can provide a layer of protection regardless, including covering the cost of defending claims.

Coverage requirements vary depending on the nature and value of disputes you arbitrate, as well as any institutional or contractual requirements. We work with our underwriters to discuss your practice and identify appropriate coverage limits for your situation.