Policy wordings



Full limit extensions

Collateral warranties
  • Cover for liability incurred under a collateral warranty, provided that the benefit of that warranty is no greater or longer lasting than the contract it relates to. There is no limit to number of assignments of the collateral warranty.
Dishonesty of employees
  • Cover in the event a third party suffers loss and seeks recovery from the policyholder following dishonest actions of an employee, e.g. misappropriation of funds.
Loss of documents
  • Cover for the cost or replacing or restoring your own documents, or a third party's documents that were in your custody and control, that are lost or damaged in the course of the professional business.

Sub-limit extensions

Pollution - Full limit in the aggregate
  • Cover for the costs of re-design, re-specification, remedy or rectification of a structure arising from pollution due to the policyholder's negligence.
Asbestos - £250,000 each period
  • Cover for the cost of rectification or reduction in value due to the dispersal or presence of asbestos caused by the policyholder’s negligence.
Cyber liability - £250,000
  • Cover for certain liabilities arising from the policyholder transacting their business via the internet or electronically.
Court attendance costs - Up to £300 per day / £15,000 in total in each policy period
  • Compensation for time away from the business due to attending an investigation or court hearing connected to a claim covered by the policy.
Ombudsman awards - £250,000 each period
  • Cover for payments following an award made by an ombudsman with authority over the policyholder and connected to a claim covered by the policy.
Estate agents & safety legislations costs £100,000 each period
  • Cover for 80% of costs incurred by the policyholder in defending an action under estate agents or safety legislation, such as the Property Misdescriptions Act, provided there would then be a claim made against the policyholder if they were to lose that action.
Legal representation costs - £25,000 each period
  • Cover for the costs of legal representation at a properly constituted hearing, tribunal or proceeding, where those costs are not catered for within the definition of defence costs in this cover.

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AXA Scotland