Professional Indemnity

Professional Indemnity Insurance is designed to cover your professional exposures such as design, advice or consultancy. Anyone providing advice and / or services of a skillful character according to an established discipline might be regarded as a professional and exposed to claims for professional negligence. In addition to traditional professionals such as doctors, lawyers, engineers and mining industry consultants many non-traditional professionals such as computer programmers, advertising agents, acoustics consultants are also now at risk of claims against them.

Any financial loss arising from a mistake or failure by the professional to exercise the required level of skill may mean that an award is made in favour of a person who suffers a loss, damage or injury. Liability can arise from breach of contract and / or negligence and / or statute contravention; for example, misleading and deceptive conduct under the provisions of the Trade Practices Act. Professional Indemnity claims are often made on the basis of economic loss as a result of advice provided but may include claims due to personal injury or property damage.