Providing professional advice or services comes with its own risks, so it’s important to protect your business against claims of malpractice or professional misconduct.
This type of insurance cover is ideal for businesses that provide a service where inadequate or inaccurate advice could result in financial loss or personal damages.
Whether you’re a consultant, accountant, architect or any other professional, PI insurance helps protect against the impact of potential lawsuits or cost of lawsuits.
Professional Indemnity insurance covers your business and employees from claims made for financial loss or personal damages arising from an act, error, omission, or breach of professional duty made while giving professional advice. It can also help cover the legal costs of a court action.
We can arrange cover in the following areas:
Professional Indemnity (PI insurance)’s primary benefit is its financial protection for claims arising from errors, omissions or breaches of professional duty. Without PI insurance, businesses risk facing substantial legal costs, compensation payouts and more — all of which could severely affect operations.
Furthermore, having PI insurance demonstrates professionalism and responsibility. It shows clients that you take your work seriously and are committed to providing high-quality services with a safety net for unforeseen issues. Many industries and clients even require businesses to have PI insurance as part of their contract terms.
Professional indemnity insurance is essential for any business that provides professional services or advice, and for some it is required by law to have this insurance in place. PI Insurance can cover a wide range of industries, such as:
If you’re offering expertise to clients in any capacity where they rely on your knowledge or recommendations, PI insurance is a must. Even small businesses and freelancers should consider this coverage, as the risks of client claims apply regardless of the size of your company. It’s a critical part of your business’s risk management strategy, ensuring your protection from the financial consequences of potential errors.
Add professional indemnity insurance to your portfolio to protect your business. Let Aviso Broking help you find the right coverage to suit your needs. Explore all our business insurance options and contact us today for more information.
Envest Group has announced Aviso Broking, an insurance broking business with offices in QLD and NSW, and PSC Insurance Brokers, a specialist SME insurance broking
We recently had the pleasure of sitting down with Katie Brandon, the vibrant and accomplished Broking Manager at Aviso Broking. In her role at Aviso,
As a business owner, protecting your business assets is a priority. While many businesses may feel confident in their insurance decisions, the reality is,
We can work with you to build an insurance package to suit your needs, chosen from a wide range of providers.
We’ll simplify the process, giving you the peace of mind that comes with knowing you’re adequately protected.
General Advice Disclaimer
The information on this website is to be regarded as general advice. Your personal objectives, needs and financial circumstances were not taken into account when preparing this website content. We recommend that you consider the suitability of this general advice, in respect of your objectives, financial situation and needs before acting on it. You should obtain and consider the relevant product disclosure statement and Financial Services Guide from Aviso Broking before making any decision to purchase a financial product.
Aviso Broking is a Subscriber to and is bound by the 2022 Insurance Brokers Code of Practice, a full copy of which is available from the National Insurance Brokers Association (NIBA) website.
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