Professional Advice
Professional indemnity insurance is ideal for any business that provides specialised advice or professional services to clients. Mistakes can cost your business significantly if you are sued and forced to pay legal fees and damages. This is where Professional Indemnity insurance can help to protect you against these allegations and/or wrongful acts.
The team at Northsure Insurance Brokers will walk you through the process of taking out a professional indemnity insurance policy that is suited to the needs of your business. Breaches of duty can happen by accident and are not always a result of negligence.
Don’t let a small mistake become a huge life-changing cost.
Who Needs Professional Indemnity?
Any business that provides professional advice and services to benefit clients can take out professional indemnity insurance. Commercial clients that are most in need typically include but not limited to:
- Accountants
- Lawyers
- Medical Professionals
- NDIS Carers
- Marine Surveyors
- Bookkeepers
- IT specialists
- Advertising agencies
- Management consultants
What Does it Cover?
Professional indemnity insurance covers civil liabilities, public relations costs, claims investigation costs, injury and property damage, and more. These costs can be hugely encompassing and can quite easily destroy a small to medium-sized business.
Professional indemnity insurance primarily covers:
- Civil liability claims arising from breach of professional duty, unintentional defamation, or unintentional infringement of intellectual property
- Legal costs and expenses associated with investigating, defending, and settling claims
- Compensation or damages awarded to clients, up to the policy limit
- public relations expenses for engaging a public relations consultant to protect your business's reputation in the event of a claim