Accountants Insurance Gold Coast

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What is Professional Indemnity Insurance?

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Do I need Professional Indemnity insurance?

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Professional Indemnity Insurance cost

... of that service or advice. Traditionally, Professional Indemnity insurance was only considered necessary for occupations such as doctors, lawyers and accountants. However, these days it is often a mandatory requirement ...

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Professional Indemnity Insurance

... Professional Indemnity insurance * can protect those who provide professional advice or services to their clients. Some of these traditional occupations include accountants, architects, engineers and many more. Even ...

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Do I Need Public Liability insurance?

... Ensure you are capable of handling a Public Liability claim, regardless of whether it is true, with Public Liability Insurance. Let the insurers and lawyers take care of the claim so you can get back to what you do best ...

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Insurance for Accountants

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How to become an accountant in Australia

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Tax Audit Insurance

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Business Insurance

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What is Business Insurance?

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8 Facts About Professional Indemnity Insurance

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No Dramas

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A guide to professional services business

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7 Common Types of Small Business Insurance

... during an audit or investigation, including professional fees from accountants, lawyers, bookkeepers, and any other advisors that are required. Related: Tax Audit Insurance explained As with any purchase you make, doing ...

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How to become an independent contractor

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Hiring a contractor checklist and tips

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Cyber Liability Insurance

... on IT systems to conduct business Example occupations: Accountants, Consultants, Estate Agents, Retailers, Hospitality outlets, Manufacturers etc *As with any insurance, cover will be subject to the terms, conditions ...

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How to write a solid business plan in 10 steps

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Who needs Professional Indemnity insurance?

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How to stay cyber safe while working remotely

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How to start your own business from home

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Business Horror Stories

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Insurance for Mobile Food Vans

... are audited by the Australian Tax Office, you may need to hire external accountants to assist in the process. Tax Audit Insurance covers a business for specified costs in responding to an official tax audit. Theft ...

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Business Insurance in Townsville

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Business Insurance in Geelong

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Insurance for the Self Employed

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Insurance for Restaurants

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Insurance for Professionals

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Business Insurance FAQs

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Insurance by Industry

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Sole Trader Insurance

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Changing business ownership for sole traders

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Salon owners urged to consider combined cover

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Benefits of insurance for small businesses

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Preparing your small business for a Tax Audit

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5 Surprising Things Business Insurance Can Cover

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9 common startup costs for small businesses

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Scams & Cybercrime at Tax Time

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What is Professional Negligence? | Guide

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Understanding business insurance for bookkeepers

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How to start a business in 2024

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Business Basics for Cabinet Makers

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Claim for Cyber Liability

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Tech Startups Insurance

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11 technologies for small business success

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PI And PL Insurance

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How to start a business on the Gold Coast

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Top 6 Marketing Tips For a Gold Coast Business

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Business Insurance on the Gold Coast

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Business Insurance on the Central Coast

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5 Common Beauty Insurance Claims

... beauty salon suffered extensive storm damage after the 2016 east coast storms swept across. Heavy rain caused part of the ... against them by making sure you have the right insurance policies in place. It's also a wise idea ...

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Insurance for Chiropractors

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A Guide to PI Insurance

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Reviews related to Accountants Insurance Gold Coast

  • Confirming your advice that policy is acceptable to Institute of Chartered Accountants.

    David R
    Registered Tax Agents

  • Confirming your advice that policy is acceptable to Institute of Chartered Accountants.

    David R
    Tax Agent Service

Professional Indemnity insurance

Professional Indemnity insurance is designed for professionals who provide a specialist service or advice, providing protection for financial loss and legal costs in the event of a claim. This claim may be a result of an actual or alleged negligent act, error or omission whilst providing your professional service or advice.

Here’s the lowdown on Professional Indemnity insurance*

You’re a professional and there is no doubt you are good at what you do. However, mistakes happen even with the most professional operators

Professional Indemnity claims can arise from simple things like

  • giving incorrect advice
  • a miscalculation
  • incorrect diagnosis or treatment
  • an act, omission or breach of duty
  • engaging in misleading or deceptive conduct
  • loss of documentation
  • inadvertently defaming someone
  • failing to meet a deadline
  • not meeting your clients expectations

Professional Indemnity explained further…

Excellence in Customer Service


Independent feedback from our customers rated our service at excellent.

What’s typically included?*

Depending on the Professional Indemnity policy selected, your policy could cover you for liabilities arising from but not limited to: non-intentional or non- deliberate professional misconduct such as:

  • Providing your client with misleading or negligent advice
  • Breaching your professional duty
  • Confidentiality and other privacy breaches
  • Defamation, libel or slander
  • Loss of or damage to documents
  • Infringement of intellectual property
  • Payment of compensation as a result of a claim, including but not limited to Court awarded damages
  • An award of legal costs against you
  • Reasonable legal costs incurred in defending or responding to the claim
  • Claim investigation costs
  • Disciplinary proceeding costs
  • Depending on the type of Professional Indemnity insurance policy you have, it may extend to provide cover for public relation costs to help protect your business’ reputation

For allied health professionals your Professional Indemnity insurance policy extends to provide cover for bodily injury or illness claims arising from the professional services covered by the policy.

What is typically not covered?*

  • Intentional damage or misconduct
  • Contractual liabilities
  • Professional fees refunds
  • Known claims and circumstances that may have occurred prior to the period of insurance
  • Acts of fraud and dishonesty
  • Accidental injury and property damage ( these kind of claims would typically be covered by Public Liability insurance)

How Much Cover Should I have ?

With BizCover you can choose policies with levels of cover between $250,000 to $10 million, from the leading insurers on our website.

When considering how much cover you may need you should think about:

  • What are the potential risks (what could go wrong) and what could be the potential cost of a claim if something does go wrong?
  • The value of projects you work on or the value of your services
  • Any statutory requirements for your profession
  • The requirement of any professional body or association of which you are a member. Remember, as your business grows it is important to reassess your exposure to risk and increase your level of cover accordingly.

Why choose BizCover for your Professional Indemnity insurance?

BizCover - Built for Small Businesses

Built for small business

We know insurance and what makes small businesses tick.

BizCover - Clear and Competitive Pricing

Clear and competitive pricing

You can compare and choose from a range of highly competitive prices right there on your screen. Seriously.

BizCover - Cover to match your needs

Cover to match your needs

You can tailor policies from selected Australian insurers to suit the needs of your business, and we are there to help!

BizCover - Real People

Real people adding real value

Our friendly service team is on hand and on a mission to make you smile!

Frequently Asked Questions on Professional Indemnity Insurance

Professional Indemnity insurance* can protect those who provide professional advice or services to their clients. Some of these traditional occupations include accountants, architects, engineers and many more. 

Even for those in more hands-on professions like life coaches, consultants and event managers can still consider the benefits of Professional Indemnity insurance.  

Regardless of which industry you operate in, as a professional, you have a responsibility to deliver professional advice and services of the highest quality. A professional indemnity policy is intended to provide financial protection if a client were to make a claim against you for negligent acts or omissions in the provision of your professional service or advice. Could your business afford the legal fees and associated costs that come with a claim?

Professional Indemnity insurance is not always mandatory requirement.  However, for some professions it is a legal requirement or a mandatory requirement as part of the professional licence or membership to the relevant industry association. It can also be a contractual requirementIt is always best to check with your relevant industry body if it is a legal requirement and if a minimum level of cover is required. 

When it comes to the cost of your Professional Indemnity insurance, there’s no one price fits all policy. Every business is different, with each occupation carrying a different level of risk. The general rule is – the higher the risk, the higher the premium. 

These factors can also impact the cost: 

  • Your business revenue  
  • Size of your business 
  • Amount of coverage required 
  • Who is being covered by the policy? Are they qualified to perform the job 
  • Claims history 

 You can find more information here on Professional Indemnity cost and pricing factors. 

While both types of policies are there to protect your business against third-party claims that may occur from your business activities, they cover very different liabilities.  

Public Liability insurance* protects your business if a customer, supplier or member of the public are injured or sustain property damage as a result of your negligent business activities. It also assists with the legal costs associated with managing claims covered by the policy. 

Professional Indemnity insurance is designed to respond to claims against your business for losses as a result of actual or alleged negligent acts or omissions in the provision of your professional service or advice. It will also assist with the legal costs associated with responding to or managing claims which are covered by the policy.  

Management Liability insurance* protects directors and officers and the insured company itself from the many exposures relating to the management of a company. Owners and those responsible for the management of a company have specific responsibilities which can result in personal liability for alleged or actual wrongdoing. 

Management Liability is often offered as a packaged product including Directors and Officers Liability, Corporate Liability, Employment Practice Liability, Crime and Statutory Liability. 

 Professional Indemnity protects you against losses claimed by a third party due to alleged or actual negligence or errors in your professional services or advice.  Your Professional Indemnity insurance will meet the associated compensation payable to a third party together with your defence costs (which can include legal costs, investigator costs and expert fees). 

When it comes to making a claim on your insurance, we understand that it can be a difficult time and that’s why we want to make it as stress-free as possible. To help guide you through, we’ve created a simple outline of the claims process. 

Start the claims process by downloading and completing our claims form 

 Please email the completed form to our friendly claims team at claims@bizcover.com.au. 

We process all our claims online so you can lodge it anytime, 24/7.  

Leave the rest with usOnce we receive the claim form, we then manage the claim directly with the insurer. We pride ourselves on handling claims promptly, keeping you up to date every step of the process.  

Top tips to help speed up the claims process: 

  • Fill out the form correctly with all the required details, as accurately as possible. 
  • Include any relevant documents, photos, invoices etc. 
  • Check your policy excess. If the amount you are claiming for is less than the excess, then it may not be worth claiming.
 This information is general only and does not take into account your objectives, financial situation or needs. It should not be relied upon as advice. As with any insurance, cover will be subject to the terms, conditions and exclusions contained in the policy wording.