Professional Indemnity (PI) insurance protects you against claims from professional misconduct based on advice or services you have provided to clients and employees. Claims most typically arise from allegations of professional negligence and misleading/deceptive conduct, where a client has suffered financial loss, bodily injury or property damage. As you can imagine, the penalties on you can be significant.

Some professionals, for example medical doctors/nurses/allied health are required legally to have professional indemnity insurance in order to practice in Australia. But no matter what industry you are in, if you are a professional who gives advice or provides a service for your work, you run the risk of being sued. And for this reason it is important that you protect yourself and your business in the unfortunately event that somebody makes a claim against you. We’ll make sure your assets and your reputation is protected, so that you can go about your day confident in giving others valuable advice and services.

Who needs it

• Anybody who gives professional advice or provides a service for work (e.g. accountant, engineer, fund manager, real estate agent, lawyer etc).

Covers that are typically included

• legal costs incurred in the defence and investigation of a PI claim,

• compensation required to be paid in order to dispose of a PI claim,

• Claims made against you by employees.