Professional Indemnity Insurance
Anyone can make a mistake – but if your business is found liable for negligence, the costs can be financially devastating.
Not only can it lead to an expensive lawsuit, but your business's hard-earned reputation may be damaged as a result.
Professional indemnity insurance is crucial for businesses offering professional services or advice. Much like public liability insurance, which covers third-party injuries or property damage, professional indemnity insurance covers claims arising from mistakes, omissions, or negligence in your advice or services.
That's why Professional Indemnity insurance matters – to help protect your assets and brand if your advice or insurance causes a client to take legal action against you.
Why do I need Professional Indemnity insurance?
In some occupations, Professional Indemnity insurance is mandatory, such as medicine, accounting, law, and businesses providing financial advice. Even in cases where it's not required by law, it's recommended for anyone who provides a professional service or advice in exchange for a fee.
Professional indemnity insurance provides extensive coverage for accidents, errors, and omissions. It is essential for professionals who offer expert advice to protect against potential claims that may arise in daily operations. A standard policy usually includes the following:
Civil liability to a third party arising out of the conduct of their professional services.
Includes legal costs for defending against regulatory body investigations.
Reasonable legal costs incurred in defence of or responding to a claim.
Additional costs and expenses incurred during a claim.
Direct financial loss to the business caused by the dishonest or fraudulent conduct of an employee first discovered during the period of insurance.
Flexible insurance with a local touch
Insurance isn't always a one-size-fits-all policy. Whether you're in manufacturing, food and beverage, hospitality, a property owner, tradie or truckie, we're here to help structure your insurance program to suit.
Tailored insurance programs to suit your business risks, whatever your business, wherever you operate.
Highly trained insurance professionals to help you identify risks, manage your insurance program and support you with claims.
With 16 offices across Queensland and a national reach, you have access to support when you need it.
Why do I need cyber insurance cover?
Cyber insurance is important for any company that conducts business online with information that may be at risk of a data breach. This cover is designed to protect businesses against all elements of cyber risk, ensuring they can conduct business safely and their confidential data is secure.
Protect your business from potential lawsuits, cyber crimes, and disruptions to operations. Our insurance brokers assess the primary cyber risks associated with your business and determine how to minimise their impact if they arise.
A cyber incident compromising your financial information or that of your clients can quickly damage trust and credibility. Regaining a positive reputation after a breach is difficult, as clients may hesitate to share information. Cyber insurance covers breaches, recovery, theft, and financial reimbursement, assuring clients you're protected.
This policy covers any financial losses that occur from cyber events, such as those of negotiation experts, the cost of recovering data, and any legal costs associated with the breach. This includes regulatory fines or defamation claims.
Cyber insurance provides peace of mind by ensuring coverage to protect your business's financial stability and data from cyber risks.
Premium Funding
Premium Funding is a financial management service that can help your business manage its cash flow and preserve working capital by spreading the cost of your insurance premiums instead of lump sum payments. At Regional, our brokers can assist with funding arrangements for your insurance program.
Trust Regional for Your Insurance Needs
Our business insurance brokers are here to help you manage your policies and ensure you receive the right coverage for your business. We offer a range of insurance cover for various circumstances that may affect your operations. Work with a company that has your best interests in mind with Regional Insurance Brokers.
Speak with a Regional Business Insurance Broker today to find the perfect policy for your business needs.
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