Professional Indemnity Insurance
Quality Professional Indemnity Insurance backed by professional advice.
Discover tailor-made coverage designed for your business.Professional Indemnity Insurance (PI Insurance) is designed to protect businesses that provide professional advice and services to clients.
If a client or third party alleges you made an error, omission or mistake in the provision of services which resulted in them experiencing a financial loss, PI Insurance can provide financial protection to your business.
For example, if building foundation is deemed unsafe due to an alleged structural design error by the engineer, and tenants are required to vacate, the engineer may have damages sought against them from the building owner for income loss and structural rectification works.
PI coverage features commonly includes protection for:
- - Breach of Duty
- - Breach of Privacy
- - IP Infringement
- - Claims investigation costs
- - Legal defence & settlement costs
- - Reputational Repair
- - Lost or damaged documents
- - Cover for Contractors
Who needs PI Insurance ?
Mistakes are made by the best of us! If you provide advice to clients, or a professional service you should strongly consider PI Insurance. E.g. consultants, accountants, IT specialists, engineers, just to name a few.
FACT - PI Insurance is a legal requirement for many professions in Australia, in particular registered professions or as part of a professional membership
How much cover do I need?
Every business is unique and deserves tailor-made protection. iNeedCover insurance brokers don't believe in the cookie cutter approach, and will make professional recommendations on how much PI cover you need, following a detailed assessment of your business.
When the worst happens, it helps to know that your business has been appropriately insured to protect your equipment, assets and reputation.
When you work with an iNeedCover Insurance Broker, we begin by performing a detailed needs analysis so that we completely understand your circumstances, and can design coverage for the insurable risk exposures your business faces.
Once we’ve captured the ways your business could be detrimentally affected, we’ll put together a tailored insurance program that ensures every risk is addressed. We’ll pair you with an Insurance Broker who understands your industry so you can feel confident that any gaps are covered in case you need to make a claim.
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who’s on your team
by two of Australia’s most respected insurance networks
Our Insurance Brokers are all members of Community Broker Network (CBN) — Australia’s largest general insurance Authorised Broker network. CBN are part of Steadfast Australia’s largest general insurance broker network. You can trust the quality advice of our Insurance Brokers thanks to our strong history and reputation in the Aussie General Insurance Industry.
Our Insurance Brokers can access exclusive policy options that are only available to accredited brokers, allowing you to compare multiple policy options and choose the best cover for your business.
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