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.
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.
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.
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.
General Advice Warning
This advice has been prepared without taking into account the client's objectives, financial situation or needs.
Because of that, before acting on the above advice, the client should consider its appropriateness (having regard to their objectives, needs and financial situation).
If the advice is related to the acquisition of an insurance contract, the client should obtain a Product Disclosure Statement relating to the product before deciding whether to acquire it.
Copyright 2022 © Sparrow Insurance Co. Pty Ltd. - an Authorised Representative (No. 001285344) of EBN Holdings Pty Ltd ABN 24 635 396 306 AFSL 518220
