What is Professional Indemnity Insurance?
Professional Indemnity Insurance provides protection for your business against a claim made by a client alleging they have suffered a financial loss as a result of your negligence or a breach of professional duty from services provided by your business.
We provide Professional Indemnity insurance to companies of all sizes from one person consultancies up to and including Australiaā€™s largest companies. In terms of Professional Indemnity, we insure a range of professionals including management consultants, insurance brokers, engineers, accountants, architects, recruitment consultants, underwriting agencies, real estate agents, excess layer lawyers, and many more.
Why do you need Professional Indemnity Insurance?
PI Insurance will cover you and your business against a claim made against you for a number of reasons such as:
- Errors or omissions in the provision of your Professional Services
- Faulty designs, inaccurate advice
- Misleading & deceptive conduct
- Breaches of intellectual property rights
- Breaches of contract
- Fraudulent & dishonest acts
- Defamation
- Loss of or damage to documents
- Fines & penalties
Do you need Professional Indemnity Insurance?
If you are a professional providing advice or a service, you may need Professional Indemnity Insurance. If you provide any of the following it is a good idea to check your current coverage.
- Exercise or profess to have specialised knowledge or skills;
- Owe a duty of care to a client or third party in the performance of their professional work
- Paid fees for advice, design, care services
Related Links
Quote and Bind a Policy Instantly
Understanding Professional Indemnity Insurance: The Average Provision
Professional Indemnity: Costs Exclusive vs Costs Inclusive
Professional Indemnity: The Importance of the Professional Services Description
Important Notice
Berkley Insurance Company (limited company incorporated in Delaware, USA) ABN 53 126 559 706 t/as Berkley Insurance Australia is an APRA authorised general insurer. Information provided is general only, intended for brokers and has been prepared without taking into account any personā€™s particular objectives, financial situation or needs. Insurance cover is subject to terms, conditions, limits, and exclusions. When making a decision to buy or continue to hold a financial product, you should review the relevant Policy Wording.
Share this post on
Introducing our National Product Managers
Congratulations Adelle Timmins
