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Professional Indemnity Insurance – What Is and Isn’t Covered?

In some industries, Professional Indemnity insurance is obligatory (ie. medicine, law, accounting and financial advisers) with varying qualifications from state to state.
It is highly suggested for anyone who provides professional services or advice in exchange for a fee such as Consultants, engineers and more.
Often it is a customer requirement that you have this cover in place regardless of your legal obligation.
What Can It Cover?
Professional indemnity cover is a widely range insurance solution that may include anything from accidents to errors and negligence.
For Professional Risk Protection, you would want to consider Professional indemnity insurance to protect against legal action from a client combined with Medical malpractice insurance for cover against patient claims caused by errors or breach of duty.
What Can’t It Cover?
There are exclusions and most of the time, there is a deductible or excess and limits on cover, so make sure to cross-check with us.
Want to find out more?  Talk to me on 02 4067 5203 or message me at Ashlee Stephens.
General Advice Warning: This advice is general and does not take into account your objectives, financial situation or needs. You should consider whether the advice is appropriate for you and your personal circumstances. Before you make any decision about whether to acquire a certain product, you should obtain and read the relevant product disclosure statement.

All information above has been provided by the author.

Ashlee Stephens, Arena Insurance Brokers, ABN 68 663 852 068, AFSL 233750

This article originally appeared on Arena Insurance News and has been published here with permission.

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