Insurance for Immigration Advisers

Insurance for immigration advisors is designed to protect against a whole host of different risks that you may face. Below are some of the typical types of business insurances you may need to consider.

Professional Indemnity Insurance*

One of the fundamental types of cover any immigration advisor needs to consider is Professional Indemnity insurance. Professional Indemnity (PI) insurance is an important form of protection for businesses that provide specialist services or professional advice. It is designed to respond to claims against your business for
losses as a result of actual or alleged negligent acts or omissions in the provision of your professional service or advice. PI Insurance will also assist with the legal costs associated with responding to or managing claims which are covered by the policy. Below is an example of some of the other things your Professional Indemnity insurance may provide you cover for.

• Civil Liability – the Insurer will pay on behalf of any Insured all Damages resulting from any Claim for any civil liability of the Insured.
• Misleading or Deceptive Conduct – the Insurer will pay on behalf of any Insured all Damages resulting from any Claim for any Misleading or Deceptive Conduct of the Insured.
• Intellectual Property – the Insurer will pay on behalf of any Insured all Damages resulting from any Claim for any Infringement.
• Defamation – the Insurer will pay on behalf of any Insured all Damages resulting from any Claim for libel or slander committed by an Insured.
• Lost Documents – the Insurer will pay on behalf of any Insured all Damages resulting from any Claim for the destruction, damage to, loss, erasure or mislaying of Documents by an Insured.
• Defence – the Insurer has the right to defend any Claim which this policy may respond to under its Covers or Extensions. The Insurer shall pay Defence Costs incurred in defending such Claim
• Disciplinary Inquires and Investigations – reasonable fees, costs and expenses incurred by or on behalf of the Insured in the investigation, defence, settlement or appeal of any complaint against the Insured by any statutory or professional body which has jurisdiction to inquire or adjudicate in any such matter.

Professional Indemnity insurance can help provide protection for potential risks like^:

• Accidentally processing a client’s visa application incorrectly
• Being negligent when informing your client about certain information involved in the immigration process resulting in a loss to your client
• Incorrectly calculating certain related costs for the client involved with the immigration process
• Lodging applications too late and missing key dates for the visa process

Public Liability insurance*

A main part of your job as an immigration advisor is interacting with clients, whether it is from your office, home or out and about visiting them, there is a risk for things to potentially go wrong. This is where Public Liability insurance can provide peace of mind.

Public Liability insurance is designed to provide protection for you and your business in the event a customer, supplier or a member of the public are injured (when not covered by the Accident Compensation Commission (ACC) ) or sustain property damage as a result of your negligent business activities.

What is typically covered?

• Compensation for accidental damage to third party property
• Compensation for personal injury or death to third parties where the ACC does not provide cover
• Legal and defence costs

What is typically NOT covered?

• Injury to your employees
• Damage to your own property
• Compensation for personal injury whereby cover is provided by the ACC
• Known claims and circumstances

FAQs

How much does insurance cost for immigration advisors?

There isn’t a one price fits all when it comes to immigration advisors and the cost of your business insurance policy. Each business has its own unique factors which are taken into consideration by your insurer when calculating the cost of your insurance premium. An example of some of these factors include:

• Your claim history
• The type of business operations you perform
• Your annual turnover
• The number of staff
• Level of cover

To receive an accurate idea of how much business insurance will cost for your immigration advisory business, have a chat to our friendly team to get a quote.

Want more information?

If you would like to find out more about all things business insurance and small business-related topics check out our blog, full of useful resources- the perfect read for a tea break. Here’s one we’ve hand-picked to get you started

What does Professional Indemnity insurance cover?

One of the fundamental types of business insurance coverages, we share the ins and outs on all things Professional Indemnity insurance without the jargon in our simple guide.