Get Professional Indemnity Insurance on the Central Coast

Insurance For Services & Advice

What would happen if you provided poor financial advice to a client that resulted in losses and a subsequent lawsuit? What about an accidental breach of confidentiality that ended up causing a client emotional or physical distress? Let’s face it, there are a million and one ways to make a mistake when running a business. When you’re dealing with lots of clients, projects and the day-to-day grind, inevitably you’re likely to slip up—whether that’s a momentary lapse in judgement, placing too much trust in the wrong employee or something else altogether.

Professional Indemnity Insurance is designed to cover your business against financial loss due to claims of negligence, or breach of duty brought about by a client after receiving your professional advice or services.

At Coast & Country Insurance Consultants, we help clients understand whether Professional Indemnity Insurance is recommended for their business and to help find them the most suitable policy. Based in The Entrance, we service local clients throughout the Central Coast and surrounding suburbs. We can also assist clients and quote businesses all over Australia! Call our team on (02) 4334 3622 today to find out more.

Man in Suit Shake hand — Insurance Broker in The Entrance, NSW

The Last Line of Defence

Professional Indemnity Insurance should be seen as the last line of defence. It’s important that when taking out a policy, you also ensure that your business is doing what’s reasonably possible to limit issues arising in the first place. Practices such as training staff in WH&S procedures, proactively identifying potential issues before they arise and regularly assessing your service delivery can all help to safeguard your business.

Typical Policy Inclusions

A typical professional indemnity policy will provide cover for financial loss due to claims of:

However, if the act is deemed to be due to intentional, dishonest, fraudulent or illegal practice; your policy won’t usually cover you. To be sure your policy will provide the right type of cover, speak to our insurance brokers & advisors—we are more than happy to help!

Confidential Files — Insurance Broker in The Entrance, NSW

Frequently Asked Questions

Basically, if your business offers professional advice or services to clients, Professional Indemnity Insurance can be of benefit. This includes: 

  • Architects & engineers 
  • Doctors & other medical practitioners 
  • Lawyers 
  • Accountants & book keepers 
  • Wedding planners & celebrants 
  • Copy writers & editors
  • Graphic designers & photographers 
  • Travel agents 
  • Funeral directors 

And many more Australian professions. 

In Australia, Professional Indemnity Insurance isn’t a legal requirement for all service-related businesses. However, for certain industries this insurance may be required in order to be recognised under the relevant industry association or to tender for specific contractual work. Taking out Professional Indemnity Insurance may not be a legal requirement, but there are still many benefits to having a policy in place

Professional Indemnity shouldn’t be confused with Public Liability Insurance; they both serve a different purpose and therefore cover completely different risk factors. Where Professional Indemnity Insurance covers losses or damages due to issues such as poor advice and unintentional copyright infringement, Public Liability Insurance provides cover for third-party injury and property damage as a result of your business activities.

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