Professional Indemnity Insurance
Cover for professional advice and services
If your business provides professional advice, designs, consulting, reports or other specialist services, Professional Indemnity Insurance can help protect you against certain claims arising from your work.
Ideal Insurance Brokers can review your business activities, contracts and existing cover and help you compare suitable options.
Access across leading Australian insurers and underwriting agencies, including:
What Does It Cover?
What Does Professional Indemnity Insurance Cover?
Depending on the policy, Professional Indemnity Insurance can cover certain claims alleging things such as the list below. Some policies can also cover legal and defence costs associated with a covered claim. Cover is subject to the policy terms, conditions, exclusions and limits.
Incorrect advice or information
Negligence
Failure to meet a professional duty
Claims arising from the professional services you provide
Who May Need It?
Who May Need Professional Indemnity Insurance?
Professional Indemnity can be relevant to businesses that provide advice, expertise or professional services, including:
Some clients, contracts, professional bodies or industry requirements may also require a specific level of cover.
Cover Limits
How Much Cover Do I Need?
The appropriate level of cover depends on your profession, the work you undertake and your contractual requirements.
A client contract may specify a particular limit or require Professional Indemnity Insurance to remain in place for a certain period after the work is completed.
We'll look at these requirements when reviewing your insurance.
Premiums
Professional Indemnity Insurance Cost
There is no standard premium. The cost can depend on factors including:
- 01
Your profession and services
- 02
Annual turnover
- 03
Experience and qualifications
- 04
Type of clients
- 05
Contract requirements
- 06
Claims history
- 07
Level of cover required
We'll look at your business before comparing suitable options.
Professional Indemnity FAQs
No. Public Liability generally relates to certain claims involving injury or property damage arising from business activities. Professional Indemnity generally relates to claims arising from professional advice or services. Some businesses may need both.
Many consultants consider Professional Indemnity because their work involves providing advice or professional services. Contract requirements may also make it necessary.
It depends on the services you provide and your contract. Some businesses require contractors to carry their own Professional Indemnity cover.
Some professional claims can arise after the work was completed. Depending on your profession and circumstances, ongoing or run-off cover may need to be considered.
Let's Talk About Your Business
Tell us what professional services you provide and who you work for.
We'll review your requirements and help you compare suitable Professional Indemnity options.