When someone relies on your advice, design or services, a mistake can become an expensive allegation.
Addresses claims that advice, designs or professional services caused a client loss through alleged negligence, error, omission or another insured breach of professional duty, including eligible defence costs.
A consultant overlooks a project requirement and the client claims the resulting redesign and delay costs.
An allegation may create defence costs even when it is disputed. Whether those costs are inside or outside the policy limit, and whether the insurer must approve advisers, matters.
Check the wording: Usually claims made: check the professional services definition, retroactive date, known circumstances exclusions, notification requirements and need for run-off cover.
Addresses claims that advice, designs or professional services caused a client loss through alleged negligence, error, omission or another insured breach of professional duty, including eligible defence costs.
Professional indemnity focuses on allegations arising from professional advice or services. Public liability generally concerns injury or property damage arising from business activities. An organisation may need both.
Many professional indemnity policies require claims to be made and notified within specified periods. Retroactive dates, prior circumstances, continuity and notification conditions need checking before changing or cancelling cover.
Some technology policies combine professional indemnity or technology errors and omissions, cyber and general liability sections. Each section has its own scope and limits; not every IT or cyber loss is automatically included.
These primary sources explain product structures, including some overseas examples. Australian terms and availability need checking; the links do not confirm a BFY arrangement with an insurer.
Tell us about your services and contractual requirements so we can confirm how we can help.
Discuss professional indemnityAll professional and financial covers