Whether it’s a missed detail or a misunderstood recommendation, one error could cost your client money and your business its reputation. That’s where Professional Indemnity Insurance steps in. It shields you from the financial fallout of legal claims, covering the cost of defending your expertise and making things right — so you can keep doing what you do best, with confidence.
Professional Indemnity Insurance (PI) protects professionals and businesses from legal costs and claims for damages arising from acts of negligence, errors, or omissions in the services they provide. If a client suffers a financial loss due to your professional advice or actions, this policy can cover the associated legal and compensation costs.
Covers claims arising from professional mistakes, errors, or omission.
Pays legal defense costs, even if you're not at fault.
Protection against breach of confidentiality and privacy.
Covers unintentional defamation (libel or slander).
Includes costs for loss or damage to client documents.
Professional Indemnity Insurance works by providing financial protection if a client alleges that your professional service caused them financial loss. When a claim is made, the insurer steps in to cover legal defence costs, investigation expenses, and any compensation or settlement amounts — up to the policy limit.
This coverage gives you the confidence to work professionally — knowing that you're protected if things don’t go as planned.
A: In many industries such as legal, financial planning, or medical fields, PI Insurance is required by law or professional bodies.
A: The amount of Professional Indemnity Insurance you may need depends on the nature and size of your business. While there’s no one-size-fits-all amount, certain professions or industries may have specific regulatory requirements or membership criteria that dictate a minimum level of protection — such as needing at least $1 million in coverage to qualify for particular professional bodies. At our firm, we offer flexible coverage options designed to suit your unique business needs. You can select from coverage limits of $1 million, $2 million, $5 million, or even $10 million, depending on your exposure to risk and contractual obligations. Need help deciding? Our specialists are here to guide you through the right level of protection for your profession.
A: Yes, retroactive cover can be included, provided you haven’t had any known claims or circumstances prior to the start date.
Want to know how much protection costs? Get in touch and receive a personalized quote based on your profession and coverage needs.
