Anyone can make a mistake – but if your business is found liable for negligence, the costs can be financially devastating.
Not only can it lead to an expensive lawsuit, but your business’s hard-earned reputation may be damaged as a result.
Professional indemnity insurance is crucial for businesses offering professional services or advice. Much like public liability insurance, which covers third-party injuries or property damage, professional indemnity insurance covers claims arising from mistakes, omissions, or negligence in your advice or services.
That’s why Professional Indemnity insurance matters – to help protect your assets and brand if your advice or insurance causes a client to take legal action against you.
When you’re running a business, you may be personally liable for any actual or alleged breaches of the Corporations Act.
And it’s not just large companies that are exposed – small and medium business owners and officers could be at risk as well.
Management Liability insurance can cover associated costs of investigating, defending or settling claims made against your business arising from mistakes or deliberate actions, including fraud, from you company or its directors, officers or employees.
