Protect your business from expensive third party claims and associated legal costs with Professinal Indemnity Insurance.
Who needs Professional Indmenity Insurance?
Professional Indemnity Insurance is designed for businesses who provide professional advice or a service to their customers. If a customer suffers an injury or finanical loss as a result of your professional service or advice they may take legal action against you.
It is an important proetction to have in place to safeguard your business against any third party claims and associated legal costs which can blow out very quickly. Many professions will also be required to have Professional Indemnity Insurance up to a minimum level in order to be a certified member of their relevant Industry Association.
Examples of events which may lead to a claim include:
- An accountant may advise a client that a certain item is tax deductible however the ATO issues a fine for am incorrect tax lodgement.
- A roofing company designs a structure for certain climatic conditinos which fails to peform in accordance with its designed purpose
- An architect provides an incorrect design which leads to a building collpasing
Professional Indemnity Insurance provides broad protection that nneds to be tailored to each business. The typical forms of coverage include:
- Damages and and claimants legal costs awarded against you for any wrongful act, error or omission
- Your our legal and defence costs
- Claim Investigation costs
- Unintentional infringment of intellectual property
- Public Relations crisis management costs
Contact Us Today
If you would like to find out more about the benefits of working with NWC Insurance then give us a call on 1300 400 700 or email email@example.com.