PI And Pl Insurance
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Professional Indemnity Insurance cost
... and do they have a previous history of claims? Your individual claims history Professional Indemnity (PI) insurance ... cost of Professional Indemnity insurance by industry? Similarly to Public Liability insurance , your ...
read moreProfessional Indemnity Insurance
... Professional Indemnity insurance* You're a professional and ... insurance Acts of fraud and dishonesty Accidental injury and property damage ( these kind of claims would typically be covered by Public Liability insurance ...
read moreDo I need Professional Indemnity insurance?
... when it's all over. What does Professional Indemnity Insurance cover? Professional Indemnity insurance typically foots the bill for things like: Legal and defence costs Related claims investigation costs including those ...
read moreHow the cost of Professional Indemnity insurance is calculated
... Professional Indemnity (PI) insurance policy is calculated and why one profession can often cost more than another? We look some of the key factors that that impact the cost of Professional Indemnity insurance. Insurance ...
read moreHow Does Professional Indemnity Insurance Benefit You?
If you are a professional and have your own company, then it is advisable that you have professional insurance, which can also be referred to as professional indemnity insurance . Professionals are expected to possess ...
read moreWhat is Professional Indemnity Insurance?
... it cover/ exclude and some of the types of events which may result in a Professional Indemnity insurance claim. Professional Indemnity Insurance defined Professional Indemnity insurance protects professionals against ...
read moreWhat does Professional Indemnity Insurance cover?
... are at your profession. Professional Indemnity insurance is designed to protect you ... Professional Indemnity insurance typically cover you for? Professional Indemnity insurance seeks to protect your assets, reputation and ...
read moreDo I Need Public Liability insurance?
... ' negligence Secure your reputation and protect your back pocket with Public Liability Insurance for your small business. Why Do I Need Public Liability insurance? Public Liability insurance may be essential for small ...
read morePI And PL Insurance
... all! BizCover is on a mission to make understanding insurance and covering your small business easy as. With essential cover like Public Liability, Professional Indemnity insurance, and more, we can help you protect your ...
read moreWhy personal trainers should think about an Allied Health Combined Liability policy
... a dumbbell on your client's new phone. The relationship between Public Liability and Professional Indemnity Clearly, both PI insurance and PL insurance are important to the protection of personal trainers, but for ...
read moreTop 5 reasons for having Professional Indemnity and Public Liability insurance
... top 5 reasons NHAA members should hold and maintain Professional Indemnity and Public Liability insurance . 1. Protection against claims of negligence, malpractice and professional misconduct Your service comes with an ...
read moreProfessional Indemnity Insurance And Public Liability Insurance
... does Professional Indemnity cover? Do I need Public Liability insurance? How much does business insurance cost? You've got questions. BizCover has answers! From Public Liability and Professional Indemnity insurance to ...
read moreWhy some tradies should consider Professional Indemnity insurance
... 's the difference between Professional Indemnity insurance and Public Liability insurance? More than 10,000 plumbers, electricians, and carpenters currently sort out their business insurance through BizCover - many of ...
read moreHow much does Professional Indemnity Insurance Cost for IT professionals?
... and Public Liability cover from the same insurer. That way there will be no dispute between insurers as to which cover should respond to the claim. What is the average premium for Professional Indemnity insurance ...
read morePublic Liability vs. Professional Indemnity insurance: What’s the difference?
... . Recommended reading: Do I need Professional Indemnity Insurance? Public Liability insurance: what is typically covered and excluded? Public Liability insurance provides compensation for: personal injury suffered ...
read moreDoes Public Liability insurance cover employees?
... a client alleges that your advice or service caused them a loss. However, Professional Indemnity insurance (PI) may cover this. As stated above, PL does not cover injuries caused by your employees due to the work they do ...
read more8 Facts About Professional Indemnity Insurance
... priced Professional Indemnity cover from selected leading Australian insurers. Even better, you can compare other types of policies—including Public Liability , Business Insurance Packs , Cyber Liability and Management ...
read moreProfessional Indemnity Insurance for Consultants
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read moreHow much does Professional Indemnity Insurance Cost for Real Estate Agents?
... the average premium for combined Professional Indemnity & Public Liability insurance package? On average cost ... you have can also demonstrate a higher volume of work, and with more people comes an increased risk of a claim ...
read moreAdditional Cover for Professional Indemnity Insurance
... 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 ... legal action. PI Insurance protects small ...
read morePublic Liability
... visit your premises, or you going to visit them, providing your advice and services, then Public Liability and Professional Indemnity insurance may be two important forms of coverage your business needs to consider. Not ...
read moreWho needs Professional Indemnity insurance?
... provide a range of competitive insurance options including Professional Indemnity, Public Liability , Cyber Liability and Management Liability insurance, among many other types of business insurance. Jump online or give ...
read morePublic Liability Insurance in QLD
... Public Liability cover: Professional Indemnity Business Insurance Cyber Liability Personal Accident & Illness Why choose BizCover for your QLD Public Liability insurance? Built for small business We know insurance and ...
read morePublic Liability Insurance NSW
... for small businesses by providing a stamp duty exemption on certain insurance products. The exemption applies to both Public Liability and Professional Indemnity policies. To be eligible (as that the time of publication ...
read morePublic Liability Insurance NSW
... for small businesses by providing a stamp duty exemption on certain insurance products. The exemption applies to both Public Liability and Professional Indemnity policies. To be eligible (as that the time of publication ...
read moreFitrec and Health People
... DUAL Personal Trainer's package includes Professional Indemnity ( PI ) and Public Liability (PL) insurance and provides the option of choosing $1M or $2M PI cover and $10M or $20M PL cover. The policy can provide cover ...
read moreAllied Health Combined Liability Insurance
... professions. Here's a snapshot of what Professional Indemnity and Public Liability insurance provide cover for. Professional Indemnity Insurance A Professional Indemnity claim could be enough to cripple your allied ...
read moreInsurance for Martial Art Teachers
... Martial Art Teachers Combined Professional Indemnity and Public Liability cover available Coverage for training clients in your own home & anywhere in Australia Compare quotes from our trusted insurance partners*: Why do ...
read moreInsurance for pharmacy and pharmacists
... damage as a result of your negligent business activities. Other Insurances for pharmacies Whilst Professional Indemnity and Public Liability insurance provides cover for legal liabilities arising from your practice as a ...
read moreBeauty to go! What Mobile make-up artists need to know about insurance
... Professional Indemnity Insurance You're an expert when it comes to creating that perfect look and ... it is good to have your Professional Liability and Public Liability cover combined through the one insurer as these types ...
read morePI Index: Premiums Decline 10 Straight Quarters
... that prices across the other product groups, Combined Professional Indemnity/ Public Liability and Public Liability/ Business Packs are not seeing the same reductions and are instead levelling out this quarter. Michael ...
read moreInsurance for Disability Workers
... In case of accidental harm, it is important to have Public Liability insurance and Professional Indemnity insurance. With BizCover, you can compare insurance packages from some of Australia's leading insurers. What does ...
read moreInsurance for IT Professionals
... claim can be difficult to determine. BizCover offers a liability package with combined Professional Indemnity and Public Liability insurance from the same insurer. That way, there can be no dispute between insurers ...
read moreInsurance for Software Developers
... many insurers offer combined Professional Indemnity and Public Liability policies, so there's no dispute over who should respond to claims. What types of insurance do software developers and programmers need? Software ...
read morePros and cons of opening your own business
... while you don't need to know the ins and outs of the intricacies between Professional Indemnity insurance and Public Liability insurance , it's good to consider analysing what risks you could get covered by. Thankfully ...
read more8 tips to grow and transform a small business into a big business
... that many small businesses have in common that can be reduced by business insurance such as Professional Indemnity insurance * and Public Liability insurance . How you choose to manage the risks to your business is ...
read moreSalon owners urged to consider combined cover
... you ask? Well, this product includes two essential types of cover – Professional Indemnity (PI) insurance and Public Liability (PL) insurance . These two policies are crucial for many professional beauty businesses. Here ...
read moreHow much does Public Liability Insurance cost for Tradesmen?
... aren't many tradies who like paying for Public Liability (PL) insurance , but deep down you know it's ... per month for Public Liability insurance. However, increase the turnover to $250,000 or more, and the premium increases ...
read moreA sole traders guide to understanding Public Liability Insurance
... Public Liability insurance and how it can protect your sole trader business. What is Public Liability Insurance? Public Liability insurance ... have a minimum level of Public Liability insurance when doing business at a ...
read morePublic Liability Insurance Scenario
... have been avoided altogether in just a few minutes online. What Janine needed was public liability insurance or insurance that protects you and your business from being found liable to a third party for loss, injury or ...
read moreProfessional Indemnity Insurance 101 for Allied Health and Alternative Therapy Professionals
... of the claim - no matter whether it's proven or not. Professional indemnity insurance gives people in the health or alternative therapy professions, and their families, peace of mind that their assets are safe if they ...
read more7 things accountants need to consider when applying for Professional Indemnity insurance
... a confusing and time consuming process. And when it comes to getting your Professional Indemnity Insurance , it can be even more so. Here are 7 tips for Accountants to consider when it comes time to get their PI sorted ...
read more5 Things to Consider When Buying Public Liability Insurance
... 3. Am I required to have Public Liability insurance cover ? Each S tate and T erritory ha s its own ... many options when it comes to purchasing your Public Liability insurance and one thing to keep in mind is the cheapest ...
read moreWhat tradies need to know about Public Liability Insurance
... and outs of Public Liability insurance and what you need to know, without the boring bits. So what is Public Liability insurance? In a nutshell, Public Liability insurance ... your own Public Liability insurance in place, ...
read moreWhat you need to consider when purchasing Professional Indemnity insurance
... you to become a member of things like industry bodies and boards? At BizCover we take the drama out of shopping around for your Professional Indemnity insurance by doing the shopping around for you. We provide multiple ...
read moreWhat are the potential risks if I cancel my Professional Indemnity cover?
... before cancelling your Professional Indemnity insurance, and this will need to be done through the provider of your Professional Indemnity insurance. If you are looking to cancel your Professional Indemnity cover to save ...
read moreLegal requirements for Professional Indemnity insurance
... your policy is amended. Find Professional Indemnity insurance with BizCover If you are looking for Professional Indemnity insurance , BizCover can help! We make it easy to compare and buy PI coverage in minutes, online ...
read moreWhat Limit of Professional Indemnity Insurance Do I Need?
... Defence Costs in addition to the limit of Professional Indemnity insurance . You need to ensure your limit of Professional Indemnity Insurance is adequate to encompass both the claim and the costs in defending it. 4. The ...
read moreHow much does Professional Indemnity Insurance Cost for Accountants?
... Accountants? Professional Indemnity (PI) insurance is an essential form of cover for all practicing accountants. In fact, accountants are generally required to comply with specific professional standards and legislation ...
read moreProfessional Indemnity claims: when should I notify my insurer?
... Professional Indemnity (PI) insurance is no doubt one of the most vital covers you have for your business. If things don't quite go to plan it can provide much needed financial assistance for legal and ... so. And as tempting ...
read moreThe benefits of Professional Indemnity insurance
... explain what Professional Indemnity insurance is Professional Indemnity (PI) insurance offers protection ... a call to get your Professional Indemnity insurance sorted. We provide multiple quotes and can get you covered in ...
read moreProfessional Indemnity Insurance for Civil Engineers
... clients, contractors, other consultants and members of the public ... and construction of structures typically used by the general public. What is Professional Indemnity insurance? Professional Indemnity (PI) insurance ...
read more5 tips for getting the best Public Liability insurance for your business
... importance of protecting your business and your customers with Public Liability insurance . It offers protection should ... and in Victoria the government requires all plumbers to hold a minimum of $5 million PL insurance ...
read moreAccountant saved from paying $200K with Professional Indemnity Insurance: A Case Study
... Office fined a client. The firm was insured with a Professional Indemnity Policy to the value of $2 million dollars with ... The tax returns were prepared by the Insured and in conjunction with the couple who reviewed the ...
read moreProfessional Indemnity Insurance 101: For Allied Health Professionals
... a result of the claim - no matter whether it's proven or not. Professional indemnity insurance gives people in the allied health professions , and their families, peace of mind that their assets are safe if they do face ...
read moreSometimes Professional Indemnity Insurance is Needed
... . This is why many people turn to a concept like professional indemnity insurance, which can cover and protect both parties where they need the coverage and protection most: Their bank account. In life, mistakes happen ...
read moreMisconceptions Around Professional Indemnity Insurance
... the internet and community. This is where the value of professional indemnity insurance can be ... of professional indemnity insurance, as this means that if anything happens that causes them a loss, your insurance will ...
read moreProfessional Indemnity for Real Estate Agents
... Stock and Business Agents Act 2002 hold a minimum of $1 million Professional Indemnity Insurance with ... the agent was aware of a plumbing issue and flooding in the lower level and garage of a property but failed to disclose ...
read moreHow to assess your professional indemnity exposure and risks
... or potential delays as early as possible. Manage risks with Professional Indemnity insurance Assessing indemnity risks could help your small business identify and mitigate potential issues. However, even the most careful ...
read moreClaim for Professional Indemnity
... -268 Compare quotes from our trusted insurance partners: Professional Indemnity It's important to notify your ... third party Any court proceedings Written contracts between you and the claimant Do not: Admit guilt, fault, ...
read morePublic Liability Insurance WA
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read moreWhat does Public Liability Insurance cover?
... can be very expensive (the example above could easily cost well over $ 50 , 000 ) , and not having Public Liability insurance means you could well end up paying for the claim straight from your back pocket . Bear in ...
read morePublic Liability Insurance QLD
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read moreHow much does Public Liability Insurance Cost?
... criteria will apply. Get a hassle-free quote for your business here. Given the various industries and occupations Public Liability insurance can cover, also means the cost of it can vary greatly. This is due to a ...
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... are made for personal injury or property damage. Public Liability Insurance does just that. It covers the expense of legal and defence costs; court attendance costs; and compensation awarded, in the event of somebody ...
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read moreHow much does Public Liability Insurance Cost for Restaurants & Cafe?
... . Get a hassle-free quote for your business here. What is the average premium for Public Liability insurance? On average, in 2021/22 restaurant and cafe owners in NSW could expect to pay a premium of around $74 per month ...
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... any claims brought against your business and as such is advisable to have public liability insurance. Legal Requirement for Public Liability Insurance Although public liability insurance is not a statutory requirement ...
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Reviews related to PI And Pl Insurance
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quick and easy to get insurance
Leanne G
Bookkeeping and BAS Agency Services -
Easy & intuitive website for generating multiple professional indemnity quotes. Good personal follow-up by friendly brokers.
Malindi M
Management Consulting Service -
very easy to get my public liability insurance done within minutes!! Thanks.
Troy M
Landscape Construction -
seems easy enough to obtain our public liability. Hopefully we are fully covered now.
Natalie R
Commercial Cleaning Services -
Easy very fast and efficient, 1st timer on public liability insurance
Les K
Door Or Window Wholesaling -
Very affordable insurance for public liability. I now use Bizcover for both my fast food business and my contractual training work.
Katrina S
Fast Food Retailing -
I have never purchased public liability insurance so I had no idea about anything. I rang Biz cover and spoke to Patrick who was super helpful and explained everything to me in a simple way that was easy to understand, I believe that I have also received
Simona F
Kitchen / Bedroom / Bathroom Furniture Manufacture & Installation -
Fantastic. Needed to organise business insurance for a new business over the Christmas holiday period. No other insurance companies were open. What a relief I could search, compare and secure a new insurance policy online through BizCover! Highly recommen
Katherine W
Motel Operation -
site was easy to navigate and worth through the insurances
Anthony W
Enquiry Agency Service -
Was easy enough to change levels of cover, compare conditions and then contract the insurance cover I wanted.
Soner B
Information Technology Services (IT) -
It was so fast and simple to obtain insurance for my small business!! I am a new small business owner and am new to this so I found it easy to use and fast to obtain :)
Ragan M
Allied Health -
Very easy to use and immediate quotes on insurance. Questions are easy to understand and answer.
David F
Community Association Operation
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
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?
Built for small business
We know insurance and what makes small businesses tick.
Clear and competitive pricing
You can compare and choose from a range of highly competitive prices right there on your screen. Seriously.
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!
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 requirement. It 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 us. Once 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.