Get Professional Indemnity Insurance on the Central Coast
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.
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.
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, call our team on (02) 4334 3622 today to speak to our insurance brokers & advisors—we are more than happy to help!
Basically, if your business offers professional advice or services to clients, Professional Indemnity Insurance can be of benefit. This includes:
And many more Australian professions. If you don’t see your industry on this list or want to get a quote, contact us today to schedule an appointment!
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.
Contact us today if you’d like to learn more about the differences between these insurance types or want to schedule an appointment with one of our insurance brokers!
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
General Advice Warning: Any advice on this website is general in nature and has not taken into consideration your personal financial objectives, situation or specific needs. You should consider the appropriateness of the advice as it relates to you before acting upon it.
When we are advising and dealing in General Insurance Products we are acting as:
Coast & Country Insurance Consultants Pty Ltd (CAR 244048 | ABN 94 080 842 600)
Authorised Representative of PGW Financial Services Pty Ltd – AFSL 384713
Authorised Representative of Community Broker Network Pty Ltd ABN 60 096 916 184 | AFSL 233750
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Managing Director
Authorised Representative (AR 267657) of PGW Financial Services Pty Ltd (AFSL 384713) |
Cert. IV FinPlanning (Intergratec) | Justice of the Peace.
Senior Account Manager
Authorised Representative (AR 309157) of PGW Financial Services Pty Ltd (AFSL 384713)
Senior Account Manager
Authorised Representative of Community Broker Network (AR 1236734)
Tier 1 Diploma of Financial Services, Insurance Broking (QPIB)
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02 4334 3622
