All lines of business
Line of business · Professional liability
Professional liability: claims-made, aggregates and long tail, done right
Professional liability and financial lines have a mechanism that breaks generic cores: claims-made cover, retroactive dates, sub-limits per cover and annual aggregate limits consumed with each claim. Hermes models that logic out of the box and maintains it across the whole life of the risk, including the long tail of claims.
What you can underwrite
- Professional liabilityLawyers, architects, engineers, healthcare, consultants and chartered professionals.
- General & public liabilityCorporate, employer’s and product liability.
- Financial lines (D&O)Directors’ and officers’ liability.
- Cyber riskFirst- and third-party damage arising from security incidents.
How Hermes manages it
- Claims-made & retroactivityConfigure claims-based cover, retroactive date and discovery periods.
- Sub-limits & aggregatesLimits per cover and an annual aggregate consumed with each claim paid.
- Underwriting with questionnairesWizards and forms customised by profession and risk.
- Long-tail claimsA BPM flow with prudent reserves, legal-defence management and IBNR calculation per line.
- Renewal with continuityMaintains retroactivity and claims history at renewal.
- College & association schemesA product for professional collectives with group conditions.
Why Hermes for Professional liability
Understands claims-made
Retroactivity, sub-limits and aggregates aren’t forced extras — they’re part of the model.
Long tail controlled
Reserves and IBNR by line for a reliable technical account.
Bespoke underwriting
Questionnaires and rules by profession to assess risk correctly.
Frequently asked questions
- Does it support claims-made policies with retroactivity?
- Yes. Claims-based cover, the retroactive date and discovery periods are configured per product.
- How does it manage annual aggregate limits?
- The aggregate is defined per policy and consumed with each claim, with visibility of the available balance.
- Does it calculate IBNR for the long tail?
- Yes, according to criteria defined by product and line of business.