Professional Indemnity Insurance

Insurance cover to help protect your business and reputation from potential claims

In your line of work, a single mistake from your professional advice or services can turn into a costly claim. Litigation affects both your reputation and your financial stability. 

That is why professionals and business owners may need professional indemnity insurance to help lessen the stress of handling potential liabilities. 

What is professional indemnity insurance?

Professional indemnity (PI) insurance protects you who provide professional services or advice to individuals or other businesses. Professional indemnity insurance may serve as a protective cover from claims made by a client for loss or damages due to negligence or breach of duty, error, or omission.

Professional indemnity insurance can help with legal costs associated with the claims such as investigation costs, defence expenses, and other legal action and compensation for any damages. It can also be combined with other insurance policies that cover risks specific to your industry.

Get a Professional Indemnity insurance cover in Australia

It can be overwhelming for you to understand the particulars of professional indemnity insurance.. That’s where we come in. Sparrow Insurance can assist you in arranging a professional indemnity policy that’s easier.

We can also recommend other personal and business insurance products, like public liability insurance, for professionals and business owners. We can customise your professional indemnity insurance policy to cover your needs.

Get a quote today or talk to us now for a comprehensive business insurance review.  

FAQ

Is professional indemnity insurance cover compulsory in Australia?

Professional indemnity cover can be a mandatory requirement depending on your industry. The costs of professional indemnity insurance also depend on the level of cover, your objectives, financial situation or needs. As general advice, check your relevant industry body on its applicability.