Professional Indemnity Insurance

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Professional Indemnity Insurance

Professional indemnity insurance shields you and your business from allegations of carelessness or moral failure resulting from actions, mistakes, or omissions made while providing professional services.

Professional Indemnity Insurance empowers you to pursue legal routes to clear your name and defend your esteem– with the backing of a legal and insurance team.

Professional indemnity insurance is required by many trade associations as part of their regulatory frameworks. Even though having PI insurance is not required, failing to do so could result in thousands of pounds in lost income due to the time spent defending against any allegations, as well as thousands of pounds in legal expenses and compensation payments.

COMMON CLAIM EXAMPLES

Professional Indemnity claims can arise from simple things like :

Giving incorrect advice

Miscalculation

Incorrect diagnosis or treatment

An act, omission or breach of duty

Engaging in misleading or deceptive conduct

Loss of documentation

Inadvertently defaming someone

Failing to meet a deadline

Not meeting your clients’ expectations

What’s typically included?*

The professional indemnity policy you choose may or may not protect you from damages resulting from unintentional or deliberate professional misconduct, including but not limited to the following:

Providing your client with misleading or negligent advice
Breaching your professional duty
Confidentiality and other privacy breaches
Defamation, libel or slander
Loss of or damage to documents
Infringement of intellectual property
Payment of compensation as a result of a claim, including but not limited to Court awarded damages
An award of legal costs claimed against you
Reasonable legal costs expended in defending or answering the claim Claim investigation costs
Disciplinary proceeding costs
Depending on the type of Professional Indemnity insurance policy you have, it may extend to provide cover for public relation costs to help protect your business’ reputation

Your professional indemnity insurance coverage for allied health professionals also covers claims for disease or bodily injury resulting from the professional services covered by the policy.

What is typically not covered?*

The professional indemnity policy you choose may or may not protect you from damages resulting from unintentional or deliberate professional misconduct, including but not limited to the following:

Intentional damage or misconduct
Contractual liabilities
Professional fees refunds
Recognized circumstances and claims that might have occurred before the insurance term
Acts of fraud and dishonesty
Property damage and accidental injuries (public liability insurance would normally cover these types of claims)

Your professional indemnity insurance coverage for allied health professionals also covers claims for disease or bodily injury resulting from the professional services covered by the policy.

COVERAGE INSIGHTS

How Much Cover Should I have ?

You can select policies with different levels of coverage from our website’s leading insurers by using Gravitas Insurance Brokers.

When estimating the potential amount of coverage, take into consideration:

What are the possible risks (what could go wrong), and what might the cost of a claim be in the event that something goes wrong?
The importance of the projects you complete or the worth of your contributions
Any legal requirements specific to your line of work
Any obligations imposed by organizations or professional bodies that you are a member of. Recall that you should review your risk exposure as your company expands and raise your coverage as necessary.

“Get a complete insurance coverage at a great price. Get a free quote today!”

Tasmania (Advisory office) : Suite 2 66 Charles Street Moonah TAS 7009
Adelaide (Advisory office) : 91 Hampstead Rd, Manningham, SA 5086
Queensland (Advisory office) : 26/52, Daw Road, Runcorn, QLD 4113
Melbourne (Advisory office) : 32 Rembrandt Drive, Wheelers Hill, VIC 3150
Melbourne (Advisory office) : 15 Oakland Aveneu Pointcook VIC 3030
Melbourne (Advisory office) : Level 2, 311-319 Lonsdale St, Dandenong VIC 3175
Sydney (Head-Office) : Level 5, Nexus Norwest, 4 Columbia Court, Norwest, Sydney, NSW 2153
Sydney : Level 14, 3 Parramatta Square, 153 Macquarie St, Parramatta NSW 2150

1300 810 908

info@gravitasinsurance.com.au

AFSL 519 498

NIBA

FSG

Authorised Representative