Professional Indemnity Insurance

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What is Professional Indemnity Insurance?

It’s designed to help respond to claims against your business for losses as a result of actual or alleged negligent acts or omissions in the provision of your professional service or advice. Professional Indemnity insurance may also help with legal costs associated with responding to or managing claims covered by the policy.

What businesses could Professional Indemnity insurance be relevant for?

If your business provides advice to, makes decisions on behalf of, or deliver services to a client, you may benefit both from the peace of mind as well as the financial safety net it can provide, even if it’s not compulsory. This includes professionals such as lawyers, doctors, real estate agents, accountants, psychologists, architects and more.

Professional Indemnity Insurance explained, with iSelect.

Learn more about how Professional Indemnity Insurance works in this short video.

Your Professional Indemnity Insurance questions, answered

Why would you consider taking out a policy?

How can Professional Indemnity Insurance protect my business?

What is the potential risk of not having Professional Indemnity Insurance?

Is Professional Indemnity Insurance compulsory?

What businesses could Professional Indemnity Insurance be relevant for?

What’s typically excluded in a standard policy?

What’s the difference between Professional Indemnity and Public Liability insurance?

How much can Professional Indemnity Insurance cost?

How do I choose a Professional Indemnity Insurance policy?

Last updated: 27/08/2020

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^As with any insurance, cover is subject to the terms, conditions and exclusions contained in your policy document. The information contained on this webpage is general only and should not be relied upon as advice.

*iSelect’s partnered with BizCover Pty Ltd (ABN 68 127 707 975: AFSL No.501769) to help you compare small business insurance policies. iSelect earns a commission from BizCover for every policy sold through the website or contact centre. iSelect and BizCover do not compare all providers in the market, or all policies offered by all providers. iSelect does not arrange policies from the providers we compare for you directly, but iSelect will refer you to our trusted partner, BizCover Pty Ltd who can.

Any advice provided on this website is of a general nature and does not take into account your objectives, financial situation or needs. You need to consider the appropriateness of any information or general advice iSelect gives you, having regard to your personal situation, before acting on iSelect’s advice or purchasing any policy. You need to consider if the insurance policy is suitable for you. Please read the Financial Services Guide before buying any insurance policy.