How the cost of Professional Indemnity insurance is calculated

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How Does Professional Indemnity Insurance Benefit You?

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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

... professional service or advice. PI Insurance will also assist with the legal costs associated with responding to or managing claims which are covered by the policy. Professional Indemnity claims can arise from simple ...

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Do I need Public Liability insurance?

... -based business. If you think you are covered under your home insurance policy check your Product Disclosure Statement, as most home insurance policies do not cover any liability arising from the operation of a business ...

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Professional Indemnity Insurance for Civil Engineers

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What Limit of Professional Indemnity Insurance Do I Need?

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Sometimes Professional Indemnity Insurance is Needed

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Professional Indemnity Insurance 101: For Allied Health Professionals

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Professional Indemnity Insurance for Consultants

A large number of people that start businesses, in Australia have been experiencing a steady growth in business for the past few years. One area that is growing in magnitude ... be able to add additional coverage if you think that you may need it in the future or at any time during your Professional Indemnity Insurance policy's term. As an example, at some point you may want to add business ...

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Insurance for Civil Engineers- what you need to know

... about what kinds of business insurance coverage you may need to ... ... your business and its daily operations. Having Professional Indemnity insurance for Civil Engineers means that you and your ... to consider Cyber Liability insurance. A Cyber Liability insurance policy is designed* to help ...

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Insurance for Nurses

... there is no guarantee that you will be given enough protection. Holding your own Professional Indemnity Insurance (PI) policy is the best way to ensure you are fully covered against financial loss for any legal action ...

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Insurance for Massage & Alternative Therapies

... you must be a recognised provider with the fund. Most health funds require providers to hold a current Professional Indemnity insurance policy with at least $1 million worth of cover, or $2 million if you wish to be a ...

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Business Insurance Guide for the Self-Employed - Part 2

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Professional Indemnity Claims: when should I notify my insurer?

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A Guide to PI Insurance

... and omissions insurance, PI or Professional Indemnity). What is Professional Indemnity Insurance? Professional Indemnity Insurance is ... need to look at your policy wording to look at what specifically is covered). Why Do People Hate Thinking About Professional Indemnity Insurance? Professional Indemnity Insurance forms the largest percentage of your ...

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Professional Indemnity for Real Estate Agents

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Who is Covered Under an IT Liability Policy?

Information Technology Insurance Professionals in the information technology ... ... and clients requiring these insurances in addition to professional indemnity. The benefit of having professional indemnity, products liability and public liability contained in the same policy is that, in theory ...

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Insurance for Registered Tax Agents

... often aren't always enough to prevent claims being made. For claims covered by the policy, Professional Indemnity insurance can assist with the payment of compensation to a third party together with defence costs (these ...

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Insurance for Real Estate Agents

... Property, Stock and Business Agents Act 2002 (and associated Regulations) hold a policy that provides not less than $1 million Professional Indemnity Insurance cover for any one claim and $3 million in the aggregate for ...

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Insurance for Disability Workers

... as legal fees, investigation costs, expert fees) Professional Indemnity insurance is a 'claims made' type of insurance, meaning your current Professional Indemnity policy will only respond to claims made against you in ...

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Insurance for IT Professionals

... a more common requirement for independent contractors to hold and maintain their own Professional Indemnity insurance policies. Public Liability Insurance* Chances are you spend most of your time visiting your client's ...

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Insurance for Finance & Mortgage Brokers

... or managing claims covered by the policy. Professional Indemnity policies are available through BizCover that can meet the requirements of RG210. Public Liability* Public Liability insurance is a no-brainer for finance ...

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Insurance for Engineers

... policies available to Engineers through BizCover start with limits of cover from $1m all the way up to $10m Insurance for Engineers Professional Indemnity* As a professional engineer, you are required to be an ...

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Insurance for Bookkeepers & BAS Agents

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7 Types of Insurance Your Small Business Should Consider

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Insurance for Consultants

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Insurance for Architects

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Insurance for Psychologists

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Insurance for Social Workers

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Insurance for Registered Migration Agents

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What are the Insurance Options for Land Surveyors?

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Insurance for pharmacy and pharmacists

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Insurance for Professionals

... which caused financial loss? Luckily there is an insurance policy for that and it's called Professional Indemnity insurance. Professional Indemnity insurance protects you against losses claimed by a third party ...

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Insurance for martial art teachers

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5 Questions to ask yourself before buying Insurance for your Small Business

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Insurance for Carpenters

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Keep calm and stretch on with Yoga Teacher insurance

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Insurance for Accountants

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Insurance for Nurses

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Insurance for Plumber

... or advice. Professional Indemnity insurance will also assist with the legal costs associated with responding to or managing claims which are covered by the policy. Business Insurance Business Insurance* is a package ...

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Insurance for Civil Engineers

... Indemnity insurance becomes vital to you and your business. Professional Indemnity insurance is ... or managing claims which are covered by the policy. Public Liability Insurance Whether you work on-site or in an ...

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Business Interruption Insurance: Your 'Get Out of Jail Free' Card

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Insurance for Yoga Teachers

... aware that working in some locations may require you to hold particular insurance policies. Insurance for Yoga Teachers Professional Indemnity Insurance* Yoga is a practice which heavily relies on the physical use of ...

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5 Tips for an Insurance Health Check

If your insurance is due for renewal or ... a health check of your insurance to ensure that if the ... ... you may want to increase your Professional Indemnity insurance. Also, consider any new contracts you ... . You may also find the inclusions and exclusions differ between policies, as well as limits and sub-limits for all of ...

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Things you didn't know about small business insurance

Getting the insurance sorted for your small business ... , compare quotes and buy the insurance that suits your business. But ... business insurance ... you work from home, your home and contents insurance policy might not cover all the liabilities related to ... may require you to have Professional Indemnity cover. Make sure your policy stays relevant and on the move ...

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Management Liability Insurance

... company. Think of it like this: where Professional Indemnity insurance covers the advice or service you provide to your ... the course of the Insured’s business. The policy will meet fines and penalties payable in specified ...

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Small Business Insurance Index

... price increases in the business insurance market, SMEs are continuing to ... the cost of business insurance, the BizCover SME Insurance Price ... year the increases were minimal. SME Professional Indemnity insurance prices have also remained flat over the last ... policies, we are seeing a growing number of SMEs using the BizCover platform to reduce their insurance ...

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Insurance for Hair & Beauty Services

... which was paid under the therapist's Professional Indemnity policy. 3 things to ask yourself when buying insurance Does the policy cover all your areas of work? Some policies have restrictions and may not cover all your ...

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Insurance for Allied Health Professionals

... of Australia's leading insurers. Select your preferred policy and you'll be covered instantly, so you ... professional services or advice.  Your Professional Indemnity insurance will meet the associated compensation payable ...

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Insurance Considerations for Personal Trainers

Working as a personal trainer can be a rewarding career. Not only do you get to help your clients achieve their goals and transform their lifestyles, but it's also the ... is for $1,000,000 Professional Indemnity and $10,000,000 Public Liability. A combined policy can start at from as little as $21 a month. To find out more about these types of insurance and to get a quick quote from ...

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Insurance for Pet Professionals

... damage to your business' reputation. Professional Indemnity insurance* protects you against losses claimed by ... policy. Portable Equipment Insurance* Portable equipment insurance (also known as General Property insurance ...

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Insurance for Electrical Engineers

... instantly. Did You know? Professional Indemnity policies available to electrical engineers through BizCover start with limits of cover from $1m all the way up to $10m  Insurance for Electrical Engineers Professional ...

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Insurance for Personal Trainers

... are made, whether right or wrong. Professional Indemnity Insurance* is designed to have your back. It ... malicious damage or some other defined event listed in the policy.  Personal Accident and Illness* Your body is your ...

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Insurance for Recruitment Consultants

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Insurance for Marketing Consultants

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Insurance for Land Surveyors

... your professional service or advice. Professional Indemnity insurance will also assist with the legal costs ... Liability insurance policy will cover you anywhere in Australia. Business Insurance* Business Insurance can ...

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Insurance for architects- the blueprint to success

The career of an architect is an exciting one, yet it's not one without risk. From the ground up, your responsibilities are skyscraper high. Beginning with the first ... or territory requires. Professional Indemnity Insurance Professional Indemnity insurance should be one of the ... costs for when things go a little haywire. The policy also covers you for the cost of defending disciplinary ...

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Insurance for Project Managers

... Misinterpreting data or plans This is where Professional Indemnity is likely to assist you. It is designed ... claims which are covered by your policy. Public Liability Insurance* Whether you work from an office ...

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Insurance for makeup artists

... the appropriate insurance cover to protect you and your business. Insurance for Makeup Artists Professional Indemnity Insurance* As ... or advice. For claims covered by the policy, it will cover compensation payable to a ...

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6 Areas You May Not Have Thought Business Insurance Covers

Your business is your livelihood. So it's vital to protect your business assets and revenue against potential risks that may impact your business, such as fire, storms ... to protect your business. You can tailor a policy to suit your needs and include other essential covers such as Public Liability and Professional Indemnity insurance to ensure you are not left financially responsible ...

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5 Common Beauty Insurance Claims

As much as we like to hope otherwise, unexpected events happen! Things can go dreadfully wrong despite the best efforts we take to prevent them and the simplest of setbacks ... displayed on it. “Thankfully my Business Insurance policy included building and contents cover”, says ... defence costs which were paid under her Professional Indemnity policy. Back in business Have you ever stopped for ...

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Insurance for Sole Traders and Self Emplyed

... for sole traders who offer professional advice and services who are often required to hold a Professional Indemnity insurance policy*. Whether you own your own business premises, work on site or have a mobile business ...

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Business Insurance Guide for the Self-Employed - Part 3

... in the world of business insurance, it can feel like you ... guide on all things Business Insurance for the self-employed. In ... back to basics ... and changes in legislation Losses beyond the indemnity period Voluntary closures Losses due to breakdown ... that are typically covered* by a Contents insurance policy include: Fire Lightning and explosions Storm, ...

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Finding the Right Business Insurance Can Be Hard but BizCover Makes it Easy

... and your assets with business insurance. However, figuring out exactly what ... 's why a group of insurance industry [] ... liability, professional indemnity, cyber liability, business interruption and tax audit insurance. In ... act as agent of the insurer in respect of any insurance policy purchased through us and not as your agent. Any advice ...

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Misconceptions Around Professional Indemnity Insurance

... is that the claims professional indemnity insurance covers are only the experiences ... ... word can spread like wildfire over the internet and community. This is where the value of professional indemnity insurance can be recognized. If you were somehow involved in consulting or advising a client and they have ...

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Additional Cover for Professional Indemnity Insurance

... Fernando for his certificates of insurance - it's just part ... not only insured with professional indemnity, but also with the additional ... ... cover option of public liability. Hish says his clients expect his business to be covered by professional indemnity insurance to ensure there is cover in place in the case of any potential legal action they may take ...

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Professional Indemnity PPC Landing Page

... ? Nobody is perfect, and we all make mistakes (even professionals!). That's why it's called 'Professional' Indemnity insurance, or PI. It's designed to protect people who give advice or provide a professional service. If ...

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BizCover expands into New Zealand and launches BizCover.co.nz

... leading provider of online professional indemnity insurance, has announced today the launch ... online platform (over 10,000 policies sold in the ... the already successful Australian online platform (over 10,000 policies sold in the past two years), BizCover.co.nz provides professional indemnity insurance for over 100 different professions from New Zealand's leading ...

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Small Business Index July 2015

SMEs benefiting from declining insurance rates but is the tide ... capacity and competition in the insurance market over the last few ... the price of ... the low number of catastrophes and low interest rates, and those with capital chasing returns in insurance.” The Professional Indemnity rates reduced the most this financial year finishing 3% lower. Over the time of the ...

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PI Index: Premiums Decline 10 Straight Quarters

Business Insurance Premiums Decline 10 Straight Quarters, ... healthy competition in the business insurance market. The BizCover Small Business ... ... 2 years and are now at levels where insurers are no longer willing to reduce any further. As an example, the cost of Professional indemnity insurance for some Allied Health professionals can be as low as $20 per month.”

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New Territory - how to adapt your real estate business during COVID-19

COVID-19 has had a significant impact on the real estate industry with social distancing and mandatory bans on open homes and auctions. Riding the roller coaster of economic ... is a sound investment when it comes to protecting your real estate business. If your Professional Indemnity insurance* policy is current and you are providing professional advice to your clients online, it will continue ...

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Five Tips for Starting your Home-based Business

Sometimes it takes extraordinary circumstances to take the leap of faith to start your own home-based business. The COVID-19 pandemic has made this an option for many ... services or advice.  Your Professional Indemnity insurance will meet the associated compensation ... other defined event listed in the policy. Cyber Liability*: Cyber Liability insurance helps to protect you from claims ...

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So You Want to Start a Side Hustle? Here's What You Need to Know - Part 2

Welcome back to part 2 of our guide on what you need to know when starting a side hustle. In part 1 we explored some of the steps involved with setting up your side hustle ... want to take out Professional Indemnity insurance*. Professional Indemnity protects you against losses claimed ... insurance, the cover will be subject to the terms, conditions and exclusions contained in the policy wording ...

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Help Protect your small business' reputation

When it comes to running a small business, your brand and its reputation are priceless. No doubt you've spent countless hours establishing your name by building strong ... policies designed to help protect your business if its reputation is on the line. Here are a few to consider: Professional Indemnity Insurance If your business provides a professional service or advice, such as an ...

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The Remaining Risk: What Isn't Covered and Why it Matters

... common issues with Business Insurance is that policy owners often fail to ... of what's in your policy is great (that's why ... ... For example, if you purchase Professional Indemnity (PI) insurance you should know that you're ... ' to advise your insurer of anything that may affect your policy, and failure to do so may adversely affect your chances ...

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A Broker Divided - Is BizCover's Michael Gottlieb a Threat to Broking or its Future?

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Social Media Insurance

... of your feed, confusing hashtags and even for terrible spelling errors. This is where Social Media Indemnity Insurance comes in, you can now #cover yourself and your business from errors, egregious posts and unsuitable ...

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Survival of the Fittest - How Your Fitness Business Can Adapt

The mandatory closures of gyms and fitness studios due to COVID-19 has forced personal trainers to come up with new ways to keep their businesses running. Take a look ... , paid-up to date and that you have the right cover. If you have an active Professional Indemnity insurance* policy and are running online classes, it will still cover you for claims against your business. This includes ...

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How to hire quality tradesmen for your small business with Oneflare

When hiring tradesmen for your small business, you don't have any room for error so every tiny detail counts. It can be daunting and time-consuming sorting through the ... to cover the costs of the damage they have caused. Professional Indemnity Insurance Professional Indemnity insurance is not commonly required for your average trade person, as it covers against negligence for services ...

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The Risks of Growing Your Small Business

The only strategy that is guaranteed to fail is not taking risks. Mark Zuckerberg There comes a time when every successful enterprise needs to ditch the baby steps, ... catch-up with your policies. As your business grows you'll require an insurance package that is as robust ... of themselves, but the primary insurances - public liability and professional indemnity - are crucial. Ignore them ...

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Doggone Great! Local QLD Business Selected in the $60,000 'Small Business Buddy Program'

Small Business Buddy Winner! Local QLD Business Selected in the $60,000 'Small Business Buddy Program' Woofwatchers, a local dog grooming and pet caring business is ... and medium sized businesses buy Professional Indemnity, Public Liability, Business Insurance, Management Liability and now Cyber Insurance. BizCover provides multiple insurance quotes instantly online and the ability ...

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BizCover Celebrates Third Consecutive Fast 50 Ranking

... . BizCover remains the only commercial insurance business in the list of ... ... and medium sized businesses buy Professional Indemnity, Public Liability, Business Insurance, Management Liability and now Cyber Insurance. BizCover provides multiple insurance quotes instantly online and the ability ...

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BizCover ranks #3 on the 2011 Deloitte Technology Fast 50 Australia

... BizCover, the leading online business insurance marketplace in Australia, today announced ... ... Miller, BizCover General Manager. Founded in 2008, BizCover.com.au offers professional indemnity, public liability and business insurance from many of Australia's leading insurers. For further information, please contact ...

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Insurance by Industry

... and professionals and that's why our comprehensive insurance offerings include: Professional Indemnity, Public Liability, Business Insurance, Management Liability, Cyber Insurance and Tax Audit. At BizCover, we are aware ...

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Insurance Premiums for Retailers Continue to Climb

Insurance Premiums for Retailers Continue to ... The latest BizCover Small Business Insurance Price Index has been released ... an increase in small ... increase however is not universal. Graph 1 – BizCover Insurance Price Index (Financial Year 2017 2nd Quarter) There was no change in the Professional Indemnity sector, but the index for Public Liability and Business ...

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Small Business Insurance: Why you might want to ensure you're covered!

Running a business can be rewarding, challenging but also stressful. While you will are taking control of your earning potential and the upside can be great, there are ... certain types of insurance is required. For example you'll find Professional Indemnity is comp ulsory for ... assets are also on the line. Having a Management Liability policy in place can cover you not only for your legal ...

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Small Business Insurance Index Q2: 5 point increase, largest in 10 quarters

The Quarterly BizCover Small Business Insurance Index has shown that Australian ... enjoyed the end of declining insurance premiums with an increase of ... the first increase seen in 10 quarters. This brings the insurance rates back to the same level as Q4 2013/14 (6 ... which saw premium rates increase 10%. Professional Indemnity have just normalised back to the average prices ...

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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 (PI) insurance* is an important form of protection for businesses that provide specialist services or professional advice.  It 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. PI Insurance will also assist with the legal costs associated with responding to or managing claims which are covered by the policy. 

Professional Indemnity claims can arise from simple things like giving incorrect advice, a miscalculation, incorrect diagnosis or treatment 

Professional Indemnity explained further…



Independent feedback from our customers rated our service at excellent.

What’s typically included?*

Depending on the Professional Indemnity policy selectedyour policy could cover: 

  • 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 

What is typically not covered? *

  • Intentional damage  
  • Contractual liabilities  
  • Professional fees  
  • Known claims and circumstances 
  • Fraud and dishonesty 

Download Professional Indemnity Fact Sheet

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:

*As with any insurance, cover is subject to the terms, conditions and exclusions contained in your policy document.  The information contained on this webpage is general only and should not be relied upon as advice.