Professional Indemnity Insurance

Professional Indemnity cover for Hunter Valley business professionals

Professional indemnity insurance is designed to protect professionals who provide advice or services to their customers if a claim is made by your client against you.

It protects your business against legal costs and claims made for damages arising from alleged acts, omissions or breaches of professional duty in the course of your business.

This could be for alleged negligence in your advice or even an error or omission in your acts or services. Either way, in today’s litigious environment it is important to cover yourself against the unforeseen.

This means that if you do something or neglect to do something in the course of your work, and your client suffers injury or financial loss as a result, they may take legal action against you. 

With the right insurance policy, you can defend your business against the claim and prevent financial loss.

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Professional Indemnity Insurance

Why you need Professional Indemnity Insurance

If you give professional advice or provide a fee either directly or indirectly for service to your clients then, chances are you need professional indemnity insurance.

While professional indemnity is mandatory in some industries such as medicine, accounting, bookkeeping, law, mortgage brokers and financial advisers, it is also recommended for anyone who is providing professional services or advice in exchange for a fee. This can include graphic designers and IT consultants.

PI policies vary vastly in wording, coverage and cost and are quite technical to understand and grasp. Certain occupations also have different clauses and exclusions that the business owner must be aware of and understand, as limitations in cover and protection apply.

Contact ARMA Insurance Hunter Valley expert to discuss your professional indemnity coverage options.