The extent of professional indemnity insurance in relation to notarial responsibility

Abstract

This thesis sets out to ascertain the extent of coverage under the existing professional indemnity insurance policies for the Notarial Profession in terms of Chapter 55 of the Laws of Malta. The author has engaged in interviews with key persons in both the insurance industry as well as within the notarial profession itself and one could safely arrive to the conclusion that cover under the policy is a comprehensive one. The principal exclusion of cover is that of the commission of an act with fraudulent intent on the part of the insured Notary Public. It is essential that one examines the specific wording of any particular insurance policy to check that it meets with the requirements of his business portfolio. It is equally important to review regularly what was submitted in the proposal form at the time of submitting application for insurance. This is said especially, such that notaries ensure that the limit of indemnity chosen is adequate to cover any eventual claim or claims for damages against them.