What does Professional Indemnity Insurance cover?

... the chance of a claim occurring is real, no matter how good you are at your profession. Professional Indemnity insurance is designed to protect you from a wide range of potential risks. Even seemingly small errors, could ...

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What is Professional Indemnity Insurance?

... business? No matter how good you are at your job, we're all human and we all make mistakes. Professional Indemnity Insurance allows you to cover yourself if and when you do slip up in your normal course of work. Here are ...

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How Does Professional Indemnity Insurance Benefit You?

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Do I need Professional Indemnity insurance?

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How the cost of Professional Indemnity insurance is calculated

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Professional Indemnity

... 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 ...

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Do I need Public Liability insurance?

... for all kinds of business from professionals and tradesmen to retailers and other types of small businesses. Is Public Liability insurance a legal requirement? Public Liability Insurance is not a legal requirement in ...

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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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Misconceptions Around Professional Indemnity Insurance

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Professional Indemnity Insurance 101: For Allied Health Professionals

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Sometimes Professional Indemnity Insurance is Needed

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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 ... are at risk.One way to ensure that this never happens to you, is by purchasing something called Professional Indemnity Insurance, this is a very safe option to assure you are covered in the event that someone files suit ...

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Additional Cover for Professional Indemnity Insurance

... Fernando for his certificates of insurance - it's just part ... is not only insured with professional indemnity, but also with the additional .. ... expect his business to be covered by professional indemnity insurance to ensure there is cover in place ... damage, it is vulnerable to costly legal action. PI Insurance protects small businesses from this type of action. ...

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Professional Indemnity for Real Estate Agents

In the Real Estate Industry Professional Indemnity Insurance provides essential financial protection against ... acts, errors and omissions from professional ... licenses under the Property, Stock and Business Agents Act 2002 hold a minimum of $1 million Professional Indemnity Insurance with a number of set policy inclusions. 1 Even with this requirement, it is worthwhile looking ...

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Professional Indemnity PPC Landing Page

Why do I need Professional Indemnity Insurance? 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 ...

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Professional Indemnity Claims: when should I notify my insurer?

Your Professional Indemnity (PI) insurance is no doubt one of ... against your business. Like all insurance policies, there are several important ... Your 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 compensation ...

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Top 5 Reasons for Having Professional Indemnity and Public Liability Insurance

... should hold and maintain Professional Indemnity and Public Liability insurance. #1 Protection against ... claims of negligence, malpractice and ... advice to clients in relation to their wellbeing or even for an allegation of professional misconduct. Professional Indemnity insurance provides protection for financial losses for any legal action against you. It covers ...

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A Guide to PI Insurance

... Professional Indemnity Insurance simple (also known as errors and omissions insurance, PI or Professional Indemnity). What is Professional ... is to make Professional Indemnity Insurance simple (also known as errors and omissions insurance, PI or Professional Indemnity). What is Professional Indemnity Insurance? Professional Indemnity Insurance is a form of ...

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Business Insurance Guide for the Self-Employed - Part 2

Navigating the world of business insurance can be confusing which is ... created a guide to business insurance for the self-employed that ... the ins ... Professional Indemnity insurance. What is Professional Indemnity insurance*? Professional Indemnity insurance is ... $250,000 was paid (and covered by the architect's PI policy). What is run-off cover? Run-off cover is ...

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Insurance for Disability Workers

... it cover? A Disability Support Worker's insurance package includes Professional Indemnity* and Public Liability* insurance. Professional Indemnity* An important form of insurance that is designed to respond to claims ...

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Insurance for IT Professionals

... can be no dispute between insurers as to which policy should respond to a claim. Insurance for IT Professionals Professional Indemnity* The IT world is a fast-changing environment, and whether you're involved in project ...

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Insurance for Yoga Teachers

... injured and unfortunately it could be you as the teacher who will be held liable. That's why Professional Indemnity Insurance is an important form of cover for Yoga teachers. It helps respond to claims against you or ...

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Insurance for Nurses

... policy 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 ...

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Insurance for Civil Engineers- what you need to know

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Insurance for Accountants

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Keep calm and stretch on with Yoga Teacher insurance

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

Know you need business insurance but aren't sure how ... while and looking to buy insurance for the first time; there ... ... that you have. Often they will require you to have a minimum level of Public Liability or Professional Indemnity insurance however, you may decide that you need a higher level of cover than what is stipulated. Consider ...

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Insurance for makeup artists

... assets may be at risk if you don't have the appropriate insurance cover to protect you and your business. Insurance for Makeup Artists Professional Indemnity Insurance* As a makeup artist you're an expert when it comes ...

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Small Business Insurance Index

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Insurance for Bookkeepers & BAS Agents

... , 2011, the Tax Practitioners Board required Bookkeepers and BAS Agents to have Professional Indemnity (PI) insurance. Professional Indemnity insurance coverage helps to reduce the risk that an Agent will be made liable ...

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Insurance for Registered Migration Agents

... or advice. PI Insurance also helps with the costs associated with responding to or managing claims covered by your policy. Tip: Migration Alliance members receive a discount of on Professional Indemnity policies with ...

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Insurance for Nurses

... Did you Know? The Nursing and Midwifery Board of Australia has set minimum requirements for Professional Indemnity Insurance (PI) for all enrolled nurses, registered nurses and midwives. You are required to have your ...

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Insurance for Project Managers

... Professional Indemnity insurance covers you anywhere in Australia.   Get the cover for your business Professional Indemnity ... provision of your professional consulting service or advice. PI Insurance will also assist ...

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Insurance for Finance & Mortgage Brokers

... incurred as a result of your actual or alleged negligencefrom the delivery of your professional service. Professional Indemnity insurance will also assist with the legal costs associated with responding to or managing ...

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Insurance for Real Estate Agents

... help ensure your reputation doesn't go under the hammer should something go wrong. That's where Professional Indemnity Insurance comes in. It is designed to respond to claims against your business for losses as a result ...

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Insurance for Psychologists

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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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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 ... were to go wrong because of this advice. To cover yourself against this risk you should consider Professional Indemnity Insurance, which can help protect you for any claims that may arise due to any advice that you ...

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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 ... very least, the minimum amount of cover that your state or territory requires. Professional Indemnity Insurance Professional Indemnity insurance should be one of the first projects on your drawing board! Designed to ...

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Beauty to go! What Mobile make-up artists need to know about insurance

There are some obvious pros to working as a mobile freelance make-up artist - you have control over the hours you work, you get to work with a wide range of clientele ... you without one. So, let's look at the various forms of insurance mobile makeup artists should consider for their business… Professional Indemnity Insurance You're an expert when it comes to creating that perfect look ...

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Insurance for Sole Traders and Self Emplyed

... and associations. This is common 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 ...

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How to Become a Professional Land Surveyor in Australia

Land surveying is the science, technique and profession that goes into a wide variety of tasks including planning and designing new or existing structures, construction ... . All you would have to do is complete an application, pay the set fees, and meet all the minimum requirements. Land Surveyor insurance should also be considered and this may include professional indemnity insurance.

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Insurance for Architects

... lead to a costly Professional Indemnity claim. Thankfully, Professional Indemnity insurance is designed to provide ... you know that PI insurance is known as 'claims made' cover, which means you need PI insurance to be in ...

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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 Engineers

... to go wrong. From bridges collapsing to roads rupturing - the consequences (and costs) can be severe. Professional Indemnity insurance is designed to provide your business with a solid foundation when things don't go to ...

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Insurance for Consultants

... of different consulting professions, yet all are required to provide a professional service or specialist advice. Professional Indemnity insurance is designed to protect you from losses claimed by clients that are ...

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Insurance for Social Workers

... that could take a huge toll on your life.. This is where Professional Indemnity insurance comes into play. Professional Indemnity insurance* is an important form of protection for businesses that provide specialist ...

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Insurance for Civil Engineers

... when it comes to your professional advice and services. This is where Professional Indemnity insurance becomes vital to you and your business. Professional Indemnity insurance is an important form of protection ...

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Insurance for martial art teachers

... which results in your client's injury could lead to a claim being made against you. Having Professional Indemnity insurance can help you respond to claims made against you or your business for losses incurred as a ...

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7 Types of Insurance Your Small Business Should Consider

... is Small Business Insurance. But what kind of insurance do you actually ... ... out of business! Public Liability Insurance explained. Professional Indemnity Insurance If your business or profession involves providing a service or advice, then Professional Indemnity (PI) Insurance is a must have. It ...

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What are the Insurance Options for Land Surveyors?

... yourself and your company with insurance is a smart investment. Land ... ... ensure the land surveyor has the legal support required to defend their rights, Professional Indemnity Insurance can be crucial. PI insurance is designed to respond to claims against your business for losses as a result ...

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Insurance for Allied Health Professionals

... claimed by a third party due to alleged or actual negligence in your professional services or advice.  Your Professional Indemnity insurance will meet the associated compensation payable to the third party together with ...

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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 ... ... rates over the next few quarters.” The combined PI&PL market, which is largely dominated by IT and ... As an example, the cost of Professional indemnity insurance for some Allied Health professionals can be as low as $20 per ...

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Insurance for pharmacy and pharmacists

... third party due to alleged or actual negligence or errors in your professional pharmacy services or advice.  Your Professional Indemnity insurance will cover the associated compensation payable to a third party together ...

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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 ... ... extra responsibilities in the service or advice you provide, you may want to increase your Professional Indemnity insurance. Also, consider any new contracts you may enter into or updates to legislative requirements that ...

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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 ... not know about small ... you will have a million dollar claim. However your business insurance may cover personal items If you have cover for theft and ... , they may require you to have Professional Indemnity cover. Make sure your policy stays ...

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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 ... etc which saw premium rates increase 10%. Professional Indemnity have just normalised back to the average ...

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Insurance for Registered Tax Agents

... is set as the minimum requirement. ^Minimum PI insurance requirements source from TPB tpb.gov.au/professional-indemnity-insurance-tax-agents on 8 August 2019 What could cause a PI claim? Errors and discrepancies on tax ...

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Insurance for Land Surveyors

... with safety standards and recording the correct measurements of properties and sites. That is why Professional Indemnity (PI) insurance is an important form of protection for surveyors.  It is designed to respond to ...

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The Risky Business of Insurance

What are the Real Costs to Australian Small Business? Small business owners tend to be juggling many balls - managing clients, cash flow, staff, stock and future planning ... PL Professional Indemnity - ... protects against losses for any legal action taken against your business for advice or services you have provided. All businesses providing advice should have PI Business Insurance ...

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Insurance for Electrical Engineers

... is for a design to not go to plan and the consequences (and costs) can be severe. Professional Indemnity insurance is designed to protect you against losses claimed against you due to alleged or actual negligence or ...

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Insurance for Pet Professionals

... 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 ...

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Insurance for Carpenters

... 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 ...

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Insurance for Hair & Beauty Services

... against you could be very costly to your business, not to mention damage your reputation. Professional Indemnity insurance is designed to protect your business from losses claims made against you arising from actual or ...

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Insurance for Personal Trainers

... mistakes happen, accusations can be thrown around, and claims are made, whether right or wrong. Professional Indemnity Insurance* is designed to have your back. It protects your business from losses incurred as a result ...

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Insurance for Marketing Consultants

... consider the terms you agree too, including the or KPIs you are expected to meet. Insurance for Marketing Consultants Professional Indemnity* As a marketing consultant, you are expected to wear many hats and each hat can ...

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Insurance for Plumber

... or sustain property damage as a result of your negligent business activities. Professional Indemnity Professional Indemnity insurance* is an important form of protection for businesses that provide specialist services ...

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Insurance for Recruitment Consultants

... in your profession. That's why BizCover makes it easy to take out Professional Indemnity insurance for your Recruitment Consultancy.. This insurance is designed to respond to claims against you for losses as a result ...

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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 ... ? In Australia for some business sectors you'll find certain types of insurance is required. For example you'll find Professional Indemnity is comp ulsory for finance and mortgage brokers, real estate agents, architects ...

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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 ... , including defence costs which were paid under her Professional Indemnity policy. Back in business Have you ever stopped ... against them by making sure you have the right insurance policies in place. It's also a wise idea ...

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BizCover SME Insurance Price Index Q1 FY21

... clients buck the trend of insurance price hikes. Whilst the Australian ... the availability and pricing of insurance for SMEs, BizCover can report ... were also able to capitalise on a 1.3% decrease in prices quarter on quarter for Professional Indemnity insurance. The one area that has seen ongoing fluctuations and an increase in prices this quarter is in ...

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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 [] ... . Some of the more common types of cover include public liability, professional indemnity, cyber liability, business interruption and tax audit insurance. In many cases, businesses will need to mix and match different ...

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Management Liability Insurance

... company itself from the many exposures relating to the management of a company. Think of it like this: where Professional Indemnity insurance covers the advice or service you provide to your clients, Management Liability ...

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Insurance by Industry

... of both businesses 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 ...

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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 ... 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 for the costs of a legal claim should ...

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Social Media Insurance

... . But when you operate a #business and have your own professional account, the stakes can be a little higher. You could ... spelling errors. This is where Social Media Indemnity Insurance comes in, you can now #cover yourself ...

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STABLE INSURANCE RATES A REASSURANCE FOR SMEs

BizCover's SME Insurance Price Index has unveiled a ... the COVID-19 pandemic with insurance rates remaining flat for a ... acquired from BizCover's ... ,” he said. “Key sections of business pack insurance that are frequently used by retailers such Contents, ... increases in the cost of Public Liability and Professional Indemnity in other industries,” he said. BizCover's ...

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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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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 ... changes in legislation Losses beyond the indemnity period Voluntary closures Losses due to ... insurance comes into play. What is typically included?* Accountants fees Tax agent fees Limited other professional's ...

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

... 'lock up' operations. Business interruption insurance can provide both peace of ... ... – This will cover the clerical and professional costs involved in re-writing necessary business ... yourself two very important questions. Do I have Business Interruption insurance? And, are both the property and the cause of ...

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Who is Covered Under an IT Liability Policy?

Information Technology Insurance Professionals in the information technology sector ... ... policies combine Professional Indemnity (PI), Public Liability and Products Liability to cover the IT professional from a ... insurances in addition to professional indemnity. The benefit of having professional indemnity ...

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

... most common issues with Business Insurance is that policy owners often ... ... a rough idea of what's covered will certainly come in handy. For example, if you purchase Professional Indemnity (PI) insurance you should know that you're covered for any damages claims awarded against you, plus defence ...

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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, ... of themselves, but the primary insurances - public liability and professional indemnity - are crucial. Ignore them ... faulty product. This cover is essential. Professional Indemnity ('PI') is different in that it protects ...

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

... unknown. He started his own insurance brokerage despite never having worked ... in the world selling commercial insurance through an aggregator website ... started trying to do was sell insurance - whether it was D&O or professional indemnity - but really focusing on ... , Gottlieb soon had the ability to offer quotes for PI cover from his three suppliers just 
a few seconds ...

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

... and leading provider of online professional indemnity insurance, has announced today the launch ... years), BizCover.co.nz provides professional indemnity ... 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 insurers. BizCover provides a simple ...

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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 ... drive down ... 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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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 ... of actual or alleged negligent acts or omissions in the provision of your professional service or advice. Professional Indemnity insurance will also assist with the legal costs associated with responding to or managing ...

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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 ... 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 ...

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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 ... reputation too. And let's face it, we are all human and mistakes do happen. Fortunately, Professional Indemnity insurance is designed to protect your business should you or your staff make an error, omission, or, breach ...

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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.