CONTE insurance brokers
Professional Indemnity (PI)
Our speciality is arranging Professional Indemnity Insurance solutions can accommodate just about every business and occupation in Australia. If you give expert advice and/or service to another person you are expected to be highly skilled at an appropriate level for that profession.
However professionals are humans and sometimes makes mistakes. Under the Australian Trade Practices Art, a professional can be held liable for a mistake, even if the act was not negligent. Therefore a Professional Indemnity Policy is designed to protect against damages, and also covers the costs and expenses of defending claims.
Do you need Professional Indemnity Insurance?
Basically if an ordinary person believes you are in a position of expertise, and provide advice and/or professional services to a client (whether paid or not) then you are deemed generally by law to be a professional, and therefore subject to the general exposures of a professional.
Should someone suffer financial loss (or allege to suffer financial loss) arising from your advice or actions as a professional, they may take the option to recover such losses by suing your business. Such losses can be devastating to your operations, with awards following such action crippling many well established companies. Just as damaging are the high costs of legally defending your company, with many innocent businesses suffering substantial losses following mischieveious claims.
Another growing area of exposure is the liabilities companies have to protect the consumer from "misleading or deceptive conduct" from acts such as the Trade Practices Act. Whilst most companies try to fully comply with all regulations, there is often a fine line between correctly advertising your business against misleading or deceptive statements.
For more information contact Conte Insurance Brokers today to learn how we can assist your business or download the miscellaneous proposal form and fax back to us today.
Professional Indemnity forms for:
