Professional Indemnity insurance protects the individual or business from damages and legal costs as a result of an act, error or omission in their professional capacity.
The individual or business could be held responsible for negligence, professional misconduct or breach of duty. Costs can be incurred in order to defend the business and prevent financial loss, Professional Indemnity protects the business against these claims. In some industries there is a compulsory requirement to have Professional Indemnity insurance, the governing bodies set the guidelines and the minimum level of cover required.
Most insurers provide cover for:
Breaches of the Trade Practices Act
Loss of documents
Dishonesty of employees
Legal costs incurred defending a claim against you
Infringement of copyright
Defamation
Financial loss suffered by a third party
We cater for many professions, such as:
Accountants
Consultants
Designers & Engineers
Financial Services
Legal Professionals
Real Estate
Contact us for a quote or any questions you might have in regards to Professional Indemnity Insurance.
