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You’re a professional and there’s no doubt you are damn good at what you do. There is a chance that you could make a mistake in your professional capacity (it happens to the best of us!) and this error could have big financial implications for your business.
Professional Indemnity Insurance is specifically designed for businesses and individuals who provide professional services to their clients. It protects professionals from the legal costs and claims for damages that may arise from an act, omission or breach of duty in the course of your business.
In a nutshell, Professional Indemnity Insurance (PI) will ensure you are not forking out heaps of cash in legal costs should you or your business be accused of providing incorrect advice to a client. Claims can arise from a simple act of forgetting to book a venue for an event or telling your client an expense is tax deductible only to have then ATO slap them with a fine. If a claim is lodged against you or your business for a slip up in your professional capacity, you want to have PI in place to cover your assets and protect you from business breaking legal costs. And remember, even a claim that is false could still end up costing you a fortune in defence costs.
Independent feedback from our customers rated our service at excellent.
What is covered?
- Damages and claimant costs awarded against you
- Legal and defence costs
- Claims investigation costs
- Court attendance costs
- Public relations costs
What is NOT covered?
- Intentional damage
- Known claims and circumstances
- Fraud and dishonesty
- Accidental injury
- Property damage
Get the cover that is right for you
With BizCover you can choose policies with cover between $250k to $10m, from 8 different insurers. When considering how much cover you will need you should think about:
- What are the potential risks (what could go wrong) and what could be the potential costs to rectify any mistakes?
- What is the value of the jobs that you perform?
- Are there any statutory requirements for your profession?
- Does your professional body have any requirements for membership? For example Accountants are required to have a minimum of $2 million of cover to join the CPA.
- What could be the legal and investigation costs of any action taken against you?
And remember, as your business grows it is important to assess your exposure to risk and increase your level of cover accordingly.
loved the service. Everything was so simple and easy to follow plus got the best quote. 5 STAR, Highly Recommended
Allied Health Professional
No problems are an excellent situation to be in.
I love the convenience of it! The annual reminder to renew and the ease of doing so just takes away one less worry for me.
Excellent customer service. Email received about my renewal certificate in no time.
So easy to do. I normally find this kind of thing daunting and confusing but this made it so much easier and quicker.
C Abrey Caville
Architecture & Surveying
About time it was this easy to get easy insurance!
Some of the best service I have had over the phone.