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Bespoke Insurance Group

C-01Professional & management

Professional Indemnityinsurance.

Cover for claims arising from your professional advice or services.

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C-01 · Elevation

01 · The exposure

Your advice is your product. Its consequences can outlast the job.

Professional indemnity insurance is designed to respond when a client or third party alleges they suffered a financial loss because of a breach of professional duty: an error, an omission, negligent advice or a flawed design. For many professions it is a condition of membership or licensing. For all of them, it protects years of reputation and the cost of defending it.

02Scope

What this covercan respond to.

A general guide. What a particular policy covers depends on its wording, limits, conditions and exclusions, and on what is declared to the insurer.

  1. 01Civil liability claims alleging breach of professional duty
  2. 02Legal defence costs, often in addition to the limit, subject to the policy
  3. 03Claims arising from errors in advice, designs, specifications or reports
  4. 04Some policies extend to defamation, loss of documents and breach of confidentiality
Often discussed byEngineers, architects and designersConsultants and project managersAccountants and bookkeepersIT and technology professionals

03What we look at

Where the detailmatters.

  • Claims made, not occurrence

    Professional indemnity is usually written on a claims-made basis: the policy in force when the claim is made responds, not the one in force when the work was done. Continuous cover, and run-off cover after you stop practising, matter.

  • Notify early

    Circumstances that might give rise to a claim usually need to be notified during the policy period. Talk to us as soon as something looks wrong.

  • Contract terms

    Contracts can expand your liability beyond what the law would otherwise impose. We review indemnity and limitation clauses with you.

04 · Before we talk

Questions yourbroker will ask.

Having these answers to hand makes the first conversation faster and the submission to insurers stronger.

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  1. What services do you provide, and to which sectors?
  2. What is your fee income, and how is it split by activity?
  3. Do your contracts require a particular limit or run-off period?
  4. Are you aware of any circumstances that could lead to a claim?

05 · Questions

Frequently asked.

What is retroactive cover?

A retroactive date sets how far back in time the work covered by the policy can go. Maintaining continuous cover usually preserves your retroactive date.

Do I need PI if I already have public liability?

Yes, if you give advice or professional services. Public liability is about injury and property damage; PI is about financial loss caused by your professional work.

Related cover

Commonly part of programs for construction & trades and professional services.

Talk professional indemnitythrough with a broker.

A short conversation is usually the fastest way to know where you stand. No obligation, and no form required if you would rather call.

Speak to a brokerRequest a quote

Or call 1300 513 652, answered 24/7