Professional Indemnity

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Yes you will be held liable for a subcontractors work, as you have appointed them and are responsible for what they do for you and consequently your client. As your client has no contract with them, your client would hold you liable for any damage the subcontractor causes. Your PI policy can respond to this liability if it is a legal liability policy and you include a subcontractors extension to include cover for your liability flowing from such relationships. Very important however, is that your subcontractors themselves do not have cover under your policy and they will need their own policy to cover them when you counter-claim against them for the damages they have caused to your client.

Yes you can be covered under your PI if you include a Joint Ventures extension. You will be covered for your participation in the Joint Venture and it must be made clear that the Joint Venture as a group is not covered by your policy.

NB* Add-ons usually come at an extra cost

An excess (also known as a deductible or first amount payable) is essentially an underwriting fee charged to minimise the number of small administratively expensive claims, or to reduce a loss ratio, and to impose a duty of care on the insured client. 

Yes, Cosmic has valid licenses to carry out insurance broker services in Namibia. We are regulated  by NAMFISA and we are obligated to abide by the long-term and short-term insurance act.