Anyone who gives advice or provides skilled services is considered a professional. This includes roles like engineers, graphic designers, IT consultants, and financial planners, as well as traditional professions like lawyers and accountants.

Professionals are human and can make mistakes. PI insurance covers any financial losses caused by these mistakes. It may also be required by law, by your professional association, or in contracts.

PI insurance protects both your personal and business assets if there’s a claim against you. It also helps cover the costs of defending a claim, protecting your business’s cash flow and balance sheet.

This means you have to notify the insurer of any potential claims during the period your insurance is in effect. This differs from an ‘occurrence policy’, where the event just has to occur during the insurance period.

This covers you for claims that arise from any civil liability imposed by a civil court, as opposed to criminal liability. It’s broader than a ‘negligence wording’ and can cover you even when there’s no negligence involved.

The form helps insurers understand your business so they can provide you with suitable coverage. You might also need to provide additional documents like a CV or corporate brochure.

‘Costs inclusive’ means you pay part of the legal and defence costs. ‘Costs exclusive’ means you only pay towards the settlement of a claim, not the legal and defence costs.

This is the date after which your insurance covers your actions. Any act or error after this date will be covered by your policy.

This means that if you’ve been insured with the same insurer for unbroken periods, they will cover claims that should have been notified in an earlier period.

This increases the aggregate limit of all claims against your policy in a policy period. It doesn’t increase the limit for any one claim.

This refers to any situation that a reasonable person might think could lead to a claim. If you’re unsure whether something might lead to a claim, it’s better to notify your insurer.

‘Territorial limit’ is where the error or omission occurs. ‘Jurisdiction limit’ refers to where a claim can be brought within the court system.

Claims can arise from professional negligence, fraud or dishonesty by staff, defamation, loss of client documentation, wrongful or inadequate advice to clients, and breaches of trade practices or fair trading legislation, among other things.

Professionals that give advice should have PI insurance. This includes accountants, architects, engineers, consultants, IT professionals, real estate agents, and more.

Most quotes are provided within 24-48 hours. For more specific requirements, feel free to reach out to us.

Consider factors like the level of excess, coverage for past work, number of reinstatements, territorial limits, description of work, and endorsements & exclusions.

You can complete our online proposal form. If you need help or have questions, you can call us or chat with us live on our website.

Yes, once we have your completed proposal form, we can arrange multiple quotes for you where required.

In some cases, we may be able to give you a pricing indication over the phone or chat, but to arrange a quote, we need a completed proposal form.

If a claim is made against you, your PI insurance policy will cover the financial loss, allowing you to continue running your business without major interruptions. For detailed information on the claims process, visit our Claims Page.