Austral Risk Services are risk advisors and insurance brokers for small, medium and large business. Based in Western Australia, we provide comprehensive risk management services and leading insurance solutions to protect your business, company or organisation.
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Corporate > Corporate Insurance > Liability Risks > Professional Indemnity
Professional Indemnity Insurance is designed for professional people and organisations who provide advice or services to their clients.
A professional is anyone who is relied upon for their expertise. You could be a medical professional, engineer or consultant in any area of expertise. When you think about it, there are many occupations who provide expert advice.
If you are in a business or occupation where you provide professional advice or services to your clients or customers and as the result of your advice, your client or customer is injured or suffers financial loss, they have the right to take action against you to recover their losses.
These actions against you can happen from something that you do – or fail to do – in the advice or service you provide in the course of your work and as a result, a legal claim is made upon you. You can be held responsible not only for your own actions, but also for those of your employees, or anyone working under your direction or control including contractors.
There is potentially significant disruption and cost to a business to defend an action in the courts which may take a considerable period to resolve (as well as the reputation damage that can occur if the matter is not properly managed). It takes both time and money to defend any claim for careless or poor advice, malpractice, professional misconduct or breach of duty.
Professional Indemnity Insurance protects individuals and their business claims for damages by third parties and legal costs resulting from acts, omission or breaches of professional duty in the course of business.
Austral Risk Services has the expertise to assist you in covering your requirements. Our brokers will tailor a specific policy to meet your business requirements, make sure you understand the conditions and exclusions (what is covered and what is not) and explain what to do if a claim is made against you.
We’re here to support you every step of the way. Call us today.
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