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Insurance Details
Professional Indemnity Insurance is designed to protect businesses and professionals against legal liability arising from claims of negligence, errors, omissions, or breaches of professional duty in the provision of professional services or advice.
It provides financial protection for compensation claims, legal defence costs, investigation expenses, and associated losses, helping professionals operate with confidence when providing advice, design, consultancy, or specialised services to clients.
Whether you provide advice, prepare reports, design solutions, manage projects, or deliver professional services, Professional Indemnity Insurance is a fundamental protection for many Australian professions.
Cover Sections / Benefits Covered
Q&A – Common Questions
Professional Indemnity Insurance is mandatory for many professions in Australia, including financial advisers, engineers, architects, and other licensed or regulated professionals.
Even where not compulsory, it is often required under professional body rules, client contracts, or engagement agreements.
Professional Indemnity Insurance covers financial loss arising from advice, design, or professional services (e.g. incorrect advice causing client loss).
Public Liability Insurance covers personal injury or property damage to third parties arising from business activities (e.g. a client injured at your office).
Most professional businesses require both covers to be better protected.
Possibly. Provided you have maintained continuous Professional Indemnity Insurance, policies can include retroactive cover for claims arising from work performed in the past.
Yes. Professional Indemnity Insurance generally covers claims arising from negligent acts, errors, or omissions by employees, directors, or contractors acting on behalf of the insured business.
Professional Indemnity policies vary significantly in wording, exclusions, retroactive dates, and claim conditions—not just premium.
As your broker, FRS helps you:
• Clearly define and disclose your professional services
• Structure appropriate limits, excesses, and retroactive cover
• Compare policy wordings beyond headline pricing
• Negotiate extensions and manage insurer requirements
• Act as your advocate if a claim or investigation arises
Professional Indemnity Insurance is not just about compliance—it is about protecting your reputation, income, and future when advice or decisions are challenged.