Professional Indemnity Insurance Price Comparison
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Professional Indemnity Insurance cost
... performing, and do they have a previous history of claims? Your individual claims history Professional Indemnity (PI) insurance is an essential form of protection for businesses that provide specialist services or advice ...
read moreProfessional Indemnity Insurance
... 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 ...
read moreHow the cost of Professional Indemnity insurance is calculated
... (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 policy pricing is ...
read moreDo I need Professional Indemnity insurance?
... your industry professional body or regulator requires you to hold Professional Indemnity (PI) cover. ... ignoring it won't go away. Don't despair. Professional Indemnity insurance is your best defence when faced with a claim. ...
read moreWhat is Professional Indemnity Insurance?
... of events which may result in a Professional Indemnity insurance claim. Professional Indemnity Insurance defined Professional Indemnity insurance protects professionals against claims of negligence or breach of duty ...
read moreWhat 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 ...
read moreHow Does Professional Indemnity Insurance Benefit You?
... of skill, which is expected from them. Purpose of Professional Indemnity Insurance The primary purpose of professional insurance is to protect the professionals against any financial losses from lawsuits, which can be ...
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... has any interaction with clients, suppliers or any other third-party, or you sell any form of products, Public Liability insurance is a small price to pay for big peace of mind. What if I don't have Public Liability ...
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... 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 ...
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... in the provision of your professional service or advice. PI Insurance will also assist with the ... and if they've joined a professional organisation. 5. The price of Professional Indemnity insurance varies. There's no one ...
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How much does Professional Indemnity Insurance cost for Real Estate Agents? Professional Indemnity (PI) insurance is one of the most essential forms of cover for Real Estate Agents due to the potential for losses that ...
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... a further look at the nitty-gritty of all things Professional Indemnity insurance. What is Professional Indemnity insurance? Professional Indemnity insurance is designed to respond to claims against your business for ...
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... your professional indemnity insurance. CA ANZ requires that professional indemnity covers ... compare not only prices but also policy details side by side. 4. Claims Made Policy Professional indemnity policies will cover ...
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... matter whether it's proven or not. Professional indemnity insurance gives people in the health or alternative ... cover at the right price. BizCover is the best way to get immediate insurance protection, and because ...
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... over can have an impact on the cost of your Professional Indemnity policy. Generally, the higher the revenue your business generates, the higher your PI insurance premium will most likely be. For example, an accountant ...
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... Indemnity Insurance cost for IT Professionals? As an IT Professional, you are generally required to comply with specific professional standards and legislation which may require you have a minimum amount of PI ...
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... 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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... 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 explained 2. Professional Indemnity Insurance If your business or profession involves providing a service or advice, then Professional Indemnity (PI) Insurance ... – and at the right price. The best way to do ...
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... Prices start from $277.75 per annum* Meets the requirements of Nursing and Midwifery Board of Australia (NMBA) Tailored for nurses requiring insurance ... minimum requirements for Professional Indemnity Insurance (PI) for all ...
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... not reflect pricing for your particular business as individual underwriting criteria will apply. Get a hassle-free quote for your business here. Insurance for Psychologists Professional Indemnity Insurance* Psychologists ...
read morePI And PL Insurance
... 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 ...
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... “How much does Business Insurance cost?” . Unfortunately, there's no one -price fits all answer. S ... Professional Indemnity (PI) insurance* provides protection for businesses that provide specialist services or professional ...
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... HR consultants need? There are many types of insurance that HR consultants may consider, such as: Professional Indemnity insurance Professional Indemnity (PI) insurance is an important form of protection for businesses ...
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... why the price of business insurance premiums can increase. From interest rates to inflation, your insurance premiums are ... to risk. Professional Indemnity insurance Professional Indemnity (PI) insurance * could help ...
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... Liability policy! Professional Indemnity Insurance* Professional Indemnity (PI) insurance covers electricians for ... risks, so it makes that your insurance policy is priced based on your individual factors and circumstances ...
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... the cost of replacing broken glass, damaged stock, failed equipment and more! Professional Indemnity insurance* Professional Indemnity (PI) insurance offers protection for businesses that provide specialist services or ...
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... Small Business Insurance Index is showing little change, with prices again remaining ... price rises in the short term from the highly profitable small business sector.” Public Liability and Professional Indemnity prices ...
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... from a 4.1% decrease in prices and Professionals a 3.5% decrease. Professionals were also able to capitalise on a 1.3% decrease in prices quarter on quarter for Professional Indemnity insurance. The one area that has ...
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... price options backed by our Price Promise We also have public liability coverage options for home based salon Compare quotes from our trusted insurance ... your reputation. Professional Indemnity insurance is designed to ...
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... a guide only. It may not reflect pricing for your particular business as individual underwriting ... health funds require providers to hold a current Professional Indemnity insurance policy with at least $1 million worth of ...
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... insurance prices we can! Did you know? CPA (Certified Practising Accountants) and ICAA (Institute of Chartered Accountants Australia) require a minimum of $2million in professional indemnity cover. Common insurance ...
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... Price Promise Compare quotes from our trusted insurance partners*: Why do real estate agents need insurance? ... go wrong. That's where real estate Professional Indemnity insurance comes in. It is designed to respond ...
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... 's where Professional Indemnity insurance can provide a helping hand. Professional Indemnity insurance covers you for ... isn't a one-price fits all kind of tradie insurance policy, the pricing is dependent on your ...
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... Liability policies. Professional Indemnity insurance Professional Indemnity insurance protects you ... Insurance? Built for small business We know insurance and what makes small businesses tick. Clear and competitive pricing ...
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... 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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... business owners include: Public Liability insurance Professional Indemnity insurance Cyber Liability insurance Business insurance pack Commercial Property insurance When comparing business insurance quotes, don't assume ...
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... Regardless of whether it's mandatory, you may still want to consider getting a policy. Professional Indemnity insurance can help you respond to claims of negligence, giving incorrect advice, missing deadlines, and other ...
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... insurance from some of Australia's leading insurers. This revolution allowed them to reduce costs, increase pricing ... business performing a cut above the rest! Professional Indemnity insurance* Your goal is to make your ...
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... Competitive pricing with our Price Promise Compare quotes from our trusted insurance partners*: Insurance for ... legal & defence costs for covered claims Professional indemnity insurance Covers you for losses claimed by a ...
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... professionals and that's why our comprehensive insurance offerings include: Professional Indemnity , Public Liability , Business Insurance , Management Liability , Cyber Insurance ... at the right price. Industries & ...
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... compulsory?”, let's review what this type of coverage does. Professional Indemnity (PI) insurance protects businesses that provide professional advice or specialist services. It is designed to respond to claims against ...
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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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... small business owners strive to achieve. Firstly, let's explain what Professional Indemnity insurance is Professional Indemnity (PI) insurance offers protection for businesses that provide specialist services or ...
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... 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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... construction of structures typically used by the general public. What is Professional Indemnity insurance? Professional Indemnity (PI) insurance * is an important form of protection for businesses that provide specialist ...
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... can save a lot of confusion in the event that you may need to make a claim. 3. How much Professional Indemnity insurance cover do I need? Each business is different with their own factors that can determine the amount of ...
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... covered for a $221 000 payment after the Tax Office fined a client. The firm was insured with a Professional Indemnity Policy to the value of $2 million dollars with DUAL. Missing capital gains in a client’s tax return ...
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... you may not think it'll happen, each of these situations pose a risk to your business. Luckily, Professional Indemnity insurance is designed to protect you from these risks so you can get back to doing what you do best ...
read moreWhat are the potential risks if I cancel my Professional Indemnity cover?
... . So, by cancelling your cover, you run the risk of breaching your agreements. From the date your Professional Indemnity insurance is cancelled you will have no cover in place for any past, present, or future services or ...
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... 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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... expensive. The last thing you want is for frivolous lawsuit to end your small business dreams. Professional Indemnity insurance can help protect your bank accounts, so you can continue serving your clients. Are you ready ...
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... customers or the public Recommended reading : Do I need Public Liability Insurance? Do I need Professional Indemnity insurance? Professional Indemnity insurance is an important form of cover to consider for: Anyone who ...
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... 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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... ; some provide 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 ...
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... that any potential policy holder needs to consider when deciding upon whether or not they should buy professional indemnity insurance is the potential financial loss that can occur as a result of legal fees whether or ...
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... 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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... 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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... Easy online claims form Need help? Call 1300-249-268 Compare quotes from our trusted insurance partners: Professional Indemnity It's important to notify your insurer as soon as possible of all actual and potential ...
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... 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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... to protect you against a range of risks, including allegations of professional negligence by your clients. Professional Indemnity (PI) insurance* is an important form of protection for businesses that provide specialist ...
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... 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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... short answer is yes. Australian architects are required to have certain types of insurance to practice in the country. Professional Indemnity insurance (PI) covers you for losses claimed by a third party & defence costs ...
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... ' exposure to risk include: Professional Indemnity: Most consultants provide a professional service or specialist advice; it's their bread and butter. Professional Indemnity insurance (PI) helps to protect you from ...
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... in the scheme maintain an adequate level of insurance, including Public Liability insurance (PL) and Professional Indemnity insurance (PI). Find out more about insurance for disability workers and why it matters for ...
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... negligence where 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 ...
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... 's a snapshot of what P I and P L insurance provide cover for. Professional Indemnity (PI) insurance P rofessional Indemnity cover is an essential policy for professional beauty workers. It's designed to protect against ...
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... a snapshot of how PI and PL insurance could protect your health and fitness business. Professional Indemnity (PI) insurance Professional Indemnity cover is an essential policy for professional health and fitness workers ...
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... sold Peace of mind with our Price Promise Compare quotes from our trusted insurance partners*: Why do Registered Tax Agents need Insurance? Professional Indemnity (PI) insurance is designed* to provide protection for ...
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... cover to get? While there are plenty of other business insurance policies that real estate agents might consider, Professional Indemnity (PI) insurance is the only policy type required for agents either by an industry ...
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How much does Combined Liability Insurance cost for Allied Health Professionals? Professional Indemnity (PI) insurance is one of the most important types of cover for all allied health professionals due to the potential ...
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... of business.” Reviewing your Professional Indemnity cover When conducting an insurance review, Professional Indemnity is the logical place for brokers to begin. Professional Indemnity (PI)*, an industry requirement for ...
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... lead to a costly Professional Indemnity claim. Thankfully, Professional Indemnity insurance is designed to ... Did you know that PI insurance is known as 'claims made' cover, which means you need PI insurance to be in ...
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... , 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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... activities. Professional Indemnity insurance If your business delivers professional services or advice, then Professional Indemnity insurance is a business insurance to consider. Professional Indemnity (PI) insurance* is ...
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... squeezing for allocating budget for business insurance. Professional Indemnity If you have members of the ... premises you or your employees are visiting. Professional Indemnity (PI) can cover your legal liability to pay ...
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... including damages and legal fees ** . Luckily, the beautician had a policy that included Professional Indemnity (PI) insurance , which protect against financial loss for claims arising from acts of negligence, errors or ...
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... things you need to consider with this option include: The price of the business, make sure you do your math and ... Professional Indemnity insurance* can become a vital form of cover. Professional Indemnity (PI) insurance ...
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... started trying to do was sell insurance - whether it was D&O or professional indemnity - but really focusing on ... not impact price, coverage or appetite, Gottlieb soon had the ability to offer quotes for PI cover from his ...
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... or sustaining property damage as a result of your negligent business activities. Professional Indemnity insurance Professional Indemnity (PI) insurance offers protection for businesses that provide specialist services or ...
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... of Professional Indemnity insurance. What is Professional Indemnity insurance*? Professional Indemnity insurance is ... of $250,000 was paid (and covered by the architect's PI policy) . What is run-off cover? Run-off cover ...
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... Competitive pricing on combined PL & PI cover Compare quotes from our trusted insurance partners*: Combined Liability Insurance cost for Allied Health Professionals Why do Allied Health Professionals need insurance? As ...
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... 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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... 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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... to take out Professional Indemnity insurance for your recruitment agency. This insurance offers protection for ... in the provision of your professional service or advice. PI Insurance will also assist with the legal ...
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... sustaining property damage as a result of your negligent business activities. Professional Indemnity insurance* Professional Indemnity (PI) insurance offers protection for businesses that provide specialist services or ...
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... production gives you the opportunity to have a lower price point, consider passing on a discount to your ... of themselves, but the primary insurances - public liability and professional indemnity - are crucial. Ignore them ...
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... on your business. Professional Indemnity insurance Professional Indemnity insurance is a type of insurance coverage selected by professionals, including civil engineers. Professional Indemnity (PI) insurance* is an ...
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... think about Professional Indemnity insurance. Even the most experienced professionals can make accidental mistakes, and that’s where Professional Indemnity insurance can help. Professional Indemnity (PI) insurance * is ...
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... provide vital protection, it is a registration requirement for physiotherapists practising within Australia. Professional Indemnity (PI) insurance is designed to respond to claims against your business for losses as a ...
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... of an unhappy client making a claim. This is why Professional Indemnity insurance is an important coverage to consider. Professional Indemnity (PI) insurance is a form of protection for businesses that provide specialist ...
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... unhappy client to make a claim. In scenarios like these, Professional Indemnity insurance can help protect your business. Professional Indemnity (PI) insurance is an important form of protection for interior designers to ...
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... 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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... Professional Indemnity insurance covers you anywhere in Australia. Get the cover for your business Professional Indemnity ... the provision of your professional consulting service or advice. PI Insurance will also assist ...
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... 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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... purchased once for a selected period of time by the insured. If you need to get your Professional Indemnity or Run-Off insurance sorted for your business today, get in touch with BizCover today. We provide multi-year Run ...
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... ,000 small businesses Up to $10m Professional Indemnity cover Peace of mind with our Price Promise Compare quotes from our trusted insurance partners*: Why do Consultants need insurance? You offer game-changing results ...
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read moreReviews related to Professional Indemnity Insurance Price Comparison
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Easy & intuitive website for generating multiple professional indemnity quotes. Good personal follow-up by friendly brokers.
Malindi M
Management Consulting 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
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.