Contact us

Professional Indemnity Insurance - What It Is?

Professional Indemnity Insurance is specifically designed for professionals who provide their expert advice or services to their customers. Having Professional Indemnity Insurance is a must requirement for some professions in Australia.

Professional Indemnity Insurance provides coverage for claims made against you by customers or even third parties, alleging that professional services provided by you have caused the loss of any nature.

Going further, Professional Indemnity Insurance provides coverage for legal costs and court orders or settlements associated with claims against your business, given the policy covers it.

Why Professional Indemnity Insurance Is Crucial?

While working as a professional in your office or running a successful business, you tend to wear many hats and shoulder crucial responsibilities.

Since your role as a professional is so demanding in nature, there may be instances where you make an omission or error while delivering a service or giving advice to your client.

If your client alleges loss incurred is due to the professional services or advice given by you, Professional Indemnity Insurance enables you to bear legal costs and compensation against the claims, which can put a financial strain on your business otherwise.

What Professional Indemnity Insurance Covers?

Product Indemnity Insurance provides coverage for costs incurred for investigating, defending, and, after that, settling claims made against professional services or advice provided by you.

Who Requires Professional Indemnity Insurance In Australia?

In earlier times, Professional Indemnity Insurance was considered crucial for riskier occupations, for instance, doctors and lawyers. However, recently, it has become a must for all the professionals who provide their expert services, including IT and architect professionals.

Professional Indemnity Insurance Costs?

The cost of Professional Indemnity Insurance varies depending on the type of profession it provides cover for. Riskier the nature of the profession, the higher the cost of Professional Indemnity Insurance.

Why InsuRisk Insurance Broking Services?

At InsuRisk, we value the hard work you put towards your business, hence providing you with expert insurance advice and insurance broking services customized to meet your industry-specific requirements.

We go a step further to ensure a hassle-free claim at the time of liability and safeguard your business against all the odds.

Why Professional Indemnity Insurance by InsuRisk?

InsuRisk makes availing Professional Indemnity Insurance a whole lot easier. Our team of well-experienced insurance brokers understands your business requirements and offers you online insurance quotes. Professional Indemnity Insurance can be availed in no time with just a few clicks. Going further, the insurance can be renewed in a hassle-free manner. InsuRisk cares for your business, hence assists you in the event of a claim.

To avail the Professional Indemnity Insurance customized according to your professional requirements, get in touch with our team of experienced insurance services brokers at InsuRisk, and safeguard your business.