Professional Indemnity Insurance

Protect Your Business with Professional Indemnity Insurance

What is Professional Indemnity Insurance?

Your clients depend on you to offer quality service and advice. And despite the very best of your efforts, there still exists the chance that either an error could be made or a problem with your business brings legal repercussions to you or other employees. If you are an accountant providing tax advice, a designer offering design services, or a technology expert installing software, defending your company against any accusations can be extremely costly and may include punitive damages if you are found liable. It is essential that service providers have adequate protection against such financial risks in order to protect their business and assets.

 

At BOK Insurance Solutions, we understand how important it is to have Professional Indemnity Insurance for your business. We are here to help you make sure that you are properly covered and protected in the event of a claim. Our team of experienced professionals will work with you to find the best coverage for your specific needs at the most competitive rate. With our expertise, you can be confident that you’ll get the right coverage for your business.

Who is covered under a professional indemnity policy?

 

Professional indemnity insurance is an important form of business protection that covers a wide range of risks. It provides financial protection not just for the business, but also for employees or any related entities acting within the scope of their professional duties. This type of insurance helps to protect the businesses against potential losses due to wrongful acts, such as errors and omissions, negligence and breach of duty.

Why do you need professional indemnity insurance?

 

Protecting yourself from blame could become expensive and time-consuming, not to mention the damage to your reputation or company. If your case is unsuccessful, you’ll be held equally accountable for your actions and the actions of your employees. Business coverage by a professional indemnity plan can defend both you and your company in the event of claims, including the expenses associated with dealing with claims. Professional indemnity insurance coverage is available to cover legal bills and rewards resulting from any claims you’re found liable for. This kind of insurance offers you the peace of mind and confidence you need to conduct your business.

What Can Be Covered

 

This is only a summary and each policy is different, If you need more information please contact BOK Insurance Solutions Today

Breach of duty

A breach of duty occurs when a professional fails to fulfill the responsibilities that their role requires. For example, if an accountant fails to lodge their client’s paperwork in time resulting in a fine or loss.

Defamation

If someone believes that your social media post, news articles or other forms of media or speech has damaged their reputation, they may decide to take legal action against you, your staffor business for defamation.  

Claims investigation costs

Cover the legal costs and expenses associated with investigating, defending and settling claims made against you up to the amount of cover you have purchased. This gives you peace of mind defending the claim against you.

Breach of privacy

A breach of privacy or confidentiality is a serious violation of trust.  A client’s personal information leek could cause great harm and lead to financial loss, identity theft and also cause damage the client’s reputation.

Lost or damaged documents

If you, your emplyees or contractors lose a client’s monetary documents after they entrusted them to you to handle damages can be awared to your client to replace the documents or the income the documents would have provided.

Cover for contractors

Provide coverage to pay for liability claims that relate to the performance of professional services and products by representatives, consultants, contractors, subcontractors, or agents that you are liable for.

Intellectual property infringement

Intellectual property infringement is a serious issue and should not be taken lightly. If a business unintentionally breaches copyright in designs they give to a client, they could face serious legal repercussions.

Reputation repair

reputation repair will cover the cost of a PR consultant to help you rebuild your reputation following any claim against you. A PR can help with sensitive matters and will provide support and guidance on how best to repair your reputation.

Public and products cover

You can cover your losses or costs that you might have to pay for a third party that has been injured by a product or service you sell or promote.  This can also cover certain property damage due to a product or service you sell or offer.

Which Professional Indemnity insurance cover is right for you?

 

In Australia, quite a few companies offer professional indemnity insurance for a wide range of professions and their services provided by professionals working for a fee. In some cases, you may be legally required to have professional indemnity insurance, so be careful to go through your professional liability standards.

The right cover for you will depend on the industry you work in and the type of advice or services you provide. BOK Insurance Solutions can provide tailored cover for small and large businesses across a wide range of industries, which can include:

Accountants
Agronomist and agricultural consultants
Architecture and engineering consulting professionals
Building energy consultants
General insurance agents
Human Resources professionals
Interior designer
Loss assessors or loss adjusters
Management consultants
Marketing media and publishing industry
Real estate agents
Registered BAS agents and bookkeepers
Risk management professionals
Swimming pool inspectors
Training organisations
Travel agents
Veterinarians
Work health and safety consultants.

BOK Insurance Solutions can provide expert advice to help you get the right cover for your business, so contact us today to discuss your needs and arrange a Professional Indemnity insurance quote.

Let’s Talk

Not quite ready for a quote but would like to contact us first about your insurance policy? Give us a call on 0490 096 339 or fill out the form below, and we will get back to you.

Other Insurances

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BOK provides tailored insurance solutions for businesses of any size in many industries

Commercial Property Owners

We specialise in cover for those who invest in the commercial property sector.

Fire Inspectors

Specialist cover for all businesses working in the Fire Inspection Industry

Our Customers

Jean Rode
Jean Rode
01:15 10 Nov 22
I have used BOK for several years to assist with all types of business insurance, Belinda goes above and beyond to get a good price and the right cover, she is always pleasant to deal with and responds in a timely manner.
Jason Apostolu
Jason Apostolu
07:03 29 Sep 22
Belinda was great to work with, she made the whole process of finding the best insurance for our company/commercial property easy and nothing was too hard despite my numerous questions.I would highly recommend using Belinda from BOK Insurance she made me comfortable and took the stress away. I wont hesitate referring her to family and friends also.Thanks AgainJason
Jabin Crisp
Jabin Crisp
23:43 15 Aug 22
I have been using BOK insurance solutions for years for my business and personal insurance as they take the extra time to find the best option to match my insurance needs. Its what keeps me going back.
Sarah Handel
Sarah Handel
22:59 15 Aug 22
Belinda has been very helpful in the process of arranging business insurance for several projects I have worked on and also business vehicles. She does the leg work to source the right policy that fits in with your Company needs. She also takes the time to explain things clearly providing an overview that is easy to understand. I highly recommend Belinda for your insurance needs.
Amy Graham
Amy Graham
04:30 15 Aug 22
Belinda is a professional and passionate Insurance Broker who works very hard to get the best value cover at a great price. She is pleasant to work with and very responsive.
Cory Harris
Cory Harris
02:42 15 Aug 22
Belinda and the team have been amazing with helping with our insurance. From finding us a much cheaper option with better coverage to helping the whole process when we did have a claim. Highly recommend
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