Business insurance
Professional Indemnity Insurance
Professional indemnity insurance is designed for businesses that provide professional advice, design, consultancy or services. It can respond to covered allegations of negligence, errors or omissions that cause financial loss to a client or third party, subject to the policy wording.
Points to check
- PI commonly uses claims-made wording. Check when a claim must be made and notified, and promptly report a claim or circumstance that may lead to one in accordance with the wording.
- Review retroactive dates and continuity when changing insurers, services or business structure.
- Discuss possible run-off after ceasing work; availability, duration and response depend on the policy terms.
Key considerations
- Advice and services
- Contract requirements
- Claims-made cover
- Retroactive dates
Important information
Eligibility, cover and acceptance are subject to the relevant insurer’s criteria, policy terms, conditions, limits and exclusions. Review the relevant Product Disclosure Statement and policy documentation before deciding.
Start a conversation
Talk to CPC about your circumstances and the insurance options that may be available.