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Professional Indemnity Insurance is commonly written on a claims-made and notified basis. This means the timing of a claim—and when you notify your insurer—can be just as important as the professional work that led to it. In simple terms, a claims-made Professional Indemnity policy may respond when: A claim is first made against you during the active policy period; You notify the insurer as required by the policy; and The claim relates to professional services covered by the

Professional Indemnity Insurance can be an important safeguard for businesses that provide advice, professional services, designs, reports or specialist expertise. But PI Insurance does not cover every loss, dispute or business risk. Understanding exclusions is just as important as understanding what a policy may cover. A policy that appears suitable on price or headline limit may still leave important gaps if its exclusions do not match the services your business performs. T

A sole trader may need Professional Indemnity Insurance if clients rely on their advice, expertise, recommendations, reports, designs or specialist services. Being a one-person business does not remove professional liability risk. A client can still allege that an error, omission, missed deadline, incorrect recommendation or breach of professional duty caused them financial loss. In some professions, PI Insurance may also be required by a regulator, licence, professional body

The cost of Professional Indemnity Insurance in Australia varies significantly. There is no single price because insurers assess the specific professional risk created by your business, the services you provide, your clients, your revenue, your claims history and the amount of cover you require. A sole consultant with straightforward services and modest turnover may have a very different PI Insurance premium from an engineering firm, mortgage broking business, architecture pr

There is no single Professional Indemnity Insurance limit that suits every Australian professional or business. The right level of PI cover depends on the services you provide, the size of your projects, your contractual obligations, the potential financial loss a client could suffer and any regulatory or professional requirements that apply to you. A $1 million limit may be appropriate for one low-risk consultant but inadequate for another business with larger contracts, hig

Yes—Professional Indemnity Insurance may cover legal defence costs for a covered claim. However, the answer depends on the policy wording, the nature of the allegation, your policy limit, exclusions, excess and whether defence costs are included within or payable in addition to the limit of indemnity. This distinction is important. A business can incur substantial costs responding to an allegation of professional negligence even where it has done nothing wrong. Solicitors, ba

Closing a business, retiring or selling a professional practice does not necessarily end your exposure to claims. A client may raise an allegation months or years later in connection with advice, services, reports, designs or work you completed before you stopped trading. That is why Professional Indemnity run-off cover can be important. Run-off cover is designed to continue protection for claims made after your business closes, is sold, merges, or you retire from professiona

A retroactive date is one of the most important details in a Professional Indemnity Insurance policy. It determines how far back your policy may cover professional work you completed before your current policy began. For Australian professionals, consultants and service businesses, this matters because a client may make a claim years after receiving your advice, design, report, recommendation or service. Your current PI policy may only respond if the relevant work was complet

Professional Indemnity Insurance and Public Liability Insurance are both important forms of business protection, but they respond to very different risks. One is generally concerned with financial loss caused by professional advice or services; the other is generally concerned with injury or property damage suffered by third parties. For Australian businesses that provide advice, consultancy, designs, reports or specialist services—and also meet clients, work onsite or intera

Professional advice comes with professional responsibility. Whether you are an accountant, consultant, engineer, architect, mortgage broker, real estate professional, IT provider or designer, a client can allege that your advice, service or failure to act caused them financial loss. Professional Indemnity Insurance, commonly called PI insurance, is designed to help protect Australian professionals and businesses from the financial consequences of those allegations. It can be

Australian tradies face unique risks every day. Whether you're working on residential projects, commercial construction sites, renovations, maintenance works or infrastructure projects, unexpected incidents can result in significant financial consequences. From public liability claims and property damage to stolen tools, vehicle accidents, contract works losses and employee-related risks, trades businesses require insurance solutions tailored to the realities of working on-si

Commercial buildings represent some of the most valuable assets owned by Australian businesses, investors, landlords and property owners. Whether you own an office building, warehouse, industrial facility, retail premises, medical centre, shopping complex or commercial investment property, protecting your building against unexpected loss or damage is essential. Commercial building insurance helps property owners manage risks associated with fire, storm damage, theft, maliciou

Construction projects involve significant financial investment, multiple stakeholders and a wide range of risks. Whether you're building a new home, undertaking a commercial development, completing a renovation or managing a major construction project, unexpected events can cause delays, damage and substantial financial loss. Contract works insurance is designed to help protect construction projects during the building process. From storm damage and fire to theft, vandalism a

Commercial buildings are among the most valuable assets owned by Australian businesses, investors, landlords and property owners. Whether you own an office building, warehouse, industrial facility, retail premises, medical centre, mixed-use development or commercial investment property, protecting that asset against unexpected events is critical to preserving long-term value. Commercial buildings face a wide range of risks including fire, storm damage, tenant-related incident

Commercial property represents one of the largest investments many Australian businesses and investors will make. Whether you own an office building, warehouse, retail premises, industrial facility, medical centre, shopping complex or commercial investment property, protecting that asset against unexpected events is a critical component of risk management. Commercial property owners face a range of risks including fire, storm damage, theft, malicious damage, tenant-related is

Cyber threats have become one of the most significant risks facing Australian businesses. From ransomware attacks and data breaches to phishing scams, business email compromise and cyber extortion, organisations of all sizes are increasingly exposed to cybercrime. Many business owners assume cybercriminals only target large corporations. In reality, small and medium-sized businesses are among the most common targets because they often have fewer cybersecurity resources and le

Providing professional advice, recommendations or services comes with responsibility. Even highly experienced professionals can face allegations of negligence, errors, omissions or breaches of professional duty. Defending these claims can be costly, time-consuming and potentially damaging to a business's reputation. Professional indemnity insurance is designed to help protect businesses and professionals against claims arising from the professional services they provide. At C

Public liability insurance is one of the most important forms of business insurance for Australian businesses. Whether you're a tradesperson, builder, contractor, consultant, retailer, property manager, cleaner, landscaper or professional service provider, public liability insurance can help protect your business against the financial consequences of third-party injury or property damage claims. Many clients, councils, property managers, principal contractors and government o

Every business faces risk. Whether you operate a small family business, growing company, professional practice, construction firm, manufacturing operation or large commercial enterprise, the right business insurance can play an important role in protecting your business, assets, employees and financial future. From public liability insurance and professional indemnity insurance to management liability, cyber insurance, commercial property insurance and business interruption c

Business Insurance for Professional Services Firms Professional services businesses face unique risks. Unlike businesses that primarily manufacture products, professional services firms generate revenue through advice, expertise, recommendations and client relationships. Whether you operate an accounting practice, law firm, mortgage brokerage, financial planning business, consulting firm, engineering practice or property advisory company, a single claim or unexpected event ca