Professional Indemnity Insurance

Protect your business and your personal assets.

As a professional, clients come to you for your expertise and knowledge. However, this can also mean that your business — and your personal assets — are exposed to potential professional negligence claims.

Professional Indemnity Insurance

Unfortunately, mistakes can happen in any business and a client may make a complaint in response to a professional act, error or omission by you — or by anyone who has worked for you, including past, present and future employees as well as agents and subcontractors working on your behalf.

Over time, the complaint may escalate to a legal claim. This is a very real risk and if it occurs, the consequences of defending a claim can be very expensive and time consuming. You could become liable to pay legal costs, compensation, costs and expenses — which can be considerable.

Whatever your profession — whether you are an accountant, architect, marketing or IT professional, recruitment specialist or real estate agent or one of some 200 other professions — if you provide advice or services to individuals or businesses, then professional indemnity insurance will provide you with comprehensive protection against such claims for financial loss, bodily injury or property damage.

SHC has been providing professional indemnity insurance at the right price to professionals all over Australia since 1990. We’re experts at knowing the different risks that can affect your specific profession. We’ll take the time to explain the most relevant cover and features so you can make a fully informed decision. We’ll tailor our recommendations so you only pay for the cover you need — and the premiums will be the lowest possible.

Of course, we hope you will never need to claim on your policy, but if you do, then SHC will continue to look after you by managing the claims process on your behalf.

Who does it cover?

The policy is designed to cater for members of a particular profession which usually has a code of practice and minimum educational requirements. In fact, professional indemnity insurance is compulsory for many professions.

The standard professional indemnity insurance policy covers the following:

  • Insured named in the schedule
  • Employees
  • Loss arising from the conduct of consultants, agents and sub contractors if under the Insured’s direction although they would not be covered themselves
  • Incoming principals if arising from activities from a prior business within the same profession
  • Prior corporate entities
  • Merged entities
  • The estate, heirs, legal representatives or assignees of the Insured who dies or becomes insolvent

What does it cover?

Professional indemnity insurance covers breach of professional duty which may arise from common law, statute law or contractual law and provides protection against claims for financial loss only resulting directly from professional services.

Cover includes:

Outgoing partners’ run-off protection - Read More

Did you know that when you sell your business or retire, liability for your past actions does not cease with the sale of the business? People who you dealt with in the past can still make a claim against you for several years afterwards. This cover is useful when you no longer need to be covered for new work, but still need protection against possible future claims. It includes:

  • Full cover for past directors and partners for as long as the policy is in place
Dishonest acts of employees - Read More

Every business is at risk from employee dishonesty. Professional indemnity insurance provides cover for an employee act, error or omission but protection from fraudulent and dishonest acts causing loss of property or money can vary from policy to policy. This cover includes:

  • Dishonest/fraudulent/criminal or malicious acts
  • Breach of fiduciary duty
  • Theft of money and other negotiable instruments
Unintentional breaches of the Competition and Consumer Act 2010 (formerly the Trade Practices Act 1974) - Read More

A provision in Australian Consumer Law prohibits conduct by a business that is misleading or deceptive, or would be likely to mislead or deceive, irrespective of whether the action is intended or not.

According to the ACCC, if the overall impression left by an advertisement, promotion, quotation, statement or other representation made by a business creates a misleading impression in your mind—such as to the price, value or the quality of any goods and services—then the conduct is likely to breach the law.

This provides protection against unintentional breaches and includes:

  • Australian consumer law and any corresponding legisation
Loss, damage or destruction of any documents or records - Read More

Businesses generate enormous amounts of vital documentation every day. These include invoices, contracts, financial records, client records, medical information, insurance policies, legal documents and more. Imagine the effect on your business if some or all of these were damaged or destroyed. What would it cost to reproduce them? It includes:

  • Costs and expenses incurred in replacing or restoring damaged documents
Defamation (Libel and Slander) - Read More

This refers to the publication, broadcast or distribution of statements or material which may damage the business or personal reputation of an individual in the eyes of others.

Professional indemnity insurance covers defamation only when it is unintentional (this cover may be excluded from some occupations). It includes:

  • Unintentional infringement of intellectual property (such as trademark, copyright, design,  patents)
  • Unintentional false attribution of authorship (plagiarism)
  • Invasion of privacy or improper disclosure of sensitive private facts
Breach of professional duty (including duty of confidentiality) - Read More

A duty of care is a legal obligation requiring that an individual maintains a standard of reasonable care while providing a professional service to others. To pursue a claim against you a claimant must be able to show that you have breached that duty of care by the conduct of your business or the provision of your professional services. This covers your ‘civil liability’ to that third party and includes:

  • Error, misstatement, misleading statement, act, omissions or neglect
  • Defence costs to legally defend allegations
  • Acts by employees and contractors

SHC will help you choose the professional indemnity cover that best provides the protection you need at the most competitive premium.

The SHC service promise

  • Full policy review and discussion of your coverage
  • Personal service from our insurance experts
  • The right cover at the right price, tailored to your needs
  • Competitive discounted premiums
  • Same-day service for in-house quotations
  • Broad policy coverage
  • Same-day coverage
  • Convenient payment options

At SHC you can choose to pay your insurance premiums annually or monthly, whichever best suits your cash flow. Once you have decided on your insurance cover, we’ll discuss which payment option is best for your budget.

Fast, competitive quotes – by phone or online

We’re focused on your needs, flexible and fast so contact us today for a free quote. Speak to one of our customer service consultants now on 02 9806 2000 or, if you prefer, email us to request more information on Professional Indemnity Insurance.

Professional Indemnity Insurance Enquiry Form

What our clients say:

Join the many satisfied customers that SHC has already helped. See what some of these customers are saying about their experience with SHC:

“When we added design services to our growing construction business, I knew we’d need to add Professional Indemnity Insurance to our current insurance cover. I had been with SHC for many years and was always confident they could help me do the right thing for my business without spending a fortune. I’ll never use another insurance company!"

"After I decided to start my own construction business, I needed to take care of the insurance. I looked online and found SHC. They claimed they could offer better rates than anyone else, but after receiving so many expensive quotes I just didn’t believe it. But, it was true. They gave me better premiums on my Professional Indemnity and all of my Construction Insurance. SHC is the only to go place for insurance."