No matter how experienced you are, errors can occur. You might accidentally breach confidentiality, make a misjudgement, or offer inaccurate advice.
If your business faces allegations of negligence or professional errors, the financial repercussions and harm to your reputation can be substantial, regardless of your business's size.
Professional Indemnity Insurance shields your business from the costs associated with legal claims and liabilities arising from accusations of negligence, misconduct, breaches of duty, or erroneous advice given to clients.
Do I need Professional Indemnity Insurance?
If you provide advice or services as a professional in any field, there's always a risk of facing legal action.
Professional Indemnity Insurance is essential for protecting your business's finances and reputation. It offers peace of mind by covering the costs and damages if a claim is made against you or your employees.
What does this Insurance cover?
A Professional Indemnity Policy will typically cover:
- Legal costs incurred in the defence and investigation of a Professional Indemnity claim
- Any compensation required to be paid by the Insured in order to dispose of a Professional Indemnity claim
Important Tips
The most common types of claims lodged against professionals include misleading and deceptive conduct and allegations of professional negligence.
General Advice Warning
The information provided on this website has been prepared for general information purposes only and not as specific advice to any particular person. Any advice on this website is General Advice and does not take into account any person’s individual investment objectives, financial situation or needs. Before making a decision based on this advice you should consider whether it is appropriate to your particular circumstances.
Where the General Advice relates to the acquisition or possible acquisition of a financial product, you should obtain a disclosure document, including the Product Disclosure Statement (PDS) and, where available, Target Market Determination (TMD) relating to the product and consider the content before making any decision about whether to acquire the product.
Authorised by Clearlake Insurance Brokers ABN 16 651 113 861 AFSL 559829
How Clearlake Insurance can help
Our team of skilled insurance brokers is dedicated to providing expert risk management advice, exceptional service, and customised Professional Indemnity Insurance solutions tailored to safeguard you and your business.
For more information or to arrange cover, please contact us on 02 9037 8970 or simply fill out the form below and one of our insurance brokers will get in touch shortly.
