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Being in the framework of a professional civil liability insurance (ARCP) in which the policyholder is CETIT has the advantage that it is designed and conceived expressly for the professional exercise of industrial technical engineering and has been negotiated since of a position that gives better coverages and guarantees than in an individual negotiation by the engineer
Our Professional Civil Liability Insurance (ARCP) is much more solvent to the extent that it brings together a large group, which is concerned with revising it and improving its condition.
Criteria of choice beyond the premium
However, given the constant offerings and publicity of ARCP by other market operators, we will try to make some considerations to be taken into account when assessing the election or change of the ARCP beyond of the premium to be met, given that often cheap deals can come face to face. Having an ARCP is a future investment.
In the first place, it is more than advisable not only to remain with advertising, but also that it is necessary to make the effort to read the conditioned to know exactly what is the activity insured, the types of damages covered, the risks covered and Excluded, the foreseen or excluded guarantees, the franchises, the sublimits, the legal defense and guarantees, the geographical and temporary demarcation, as well as the form of calculation of the annual premium to satisfy.
Aspects to keep in mind when choosing insurance
Retroactivity
The retroactivity of the ARCP of the College is unlimited; Instead, you can find with ARCP that limit the retroactivity for a period prior to the validity of the ARCP. Therefore, choosing a limited retroactivity ARCP implies the danger of being exposed to claims for events that occurred earlier in that period and to have to pay indemnities with their own assets.
Insured limit
While the School's ARCP expects a climb that reaches 4,500,000 euros (with enlargement), ARCPs from other operators do not reach even half of this limit.
Coverage after the activity ceases
The ARCP of the College provides for a special group for those collegiate individuals who fail to exercise the profession, for bankruptcy, retirement or temporary or indefinite termination of the activity, which will be covered without having to pay any premium , as long as they remain insured.
This forecast does not have any individual ARCP, since it is a benefit derived from being under the umbrella of a collective ARCP.
Calculation of the premium
In the ARCP of the College, the engineer can freely choose the secured limit without relying on their invoicing, while a large number of ARCP offered are found with billing factors
Franchise
The ARCP of the College is exempt from franchise in matters of professional civil liability while other ARCPs have franchises
Geographical delimitation
The ARCP of the College extends to liability arising from damages occurring worldwide, except the United States of America and Canada, while there are ARCP in the insurance market that delimit coverage at the state level Spanish, or from the European Union
