PI Insurance NZ Solo Practitioner
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What does Professional Indemnity Insurance Cover?
GET QUOTES & BUY What Does Professional Indemnity Cover? What does Professional Indemnity Insurance cover? Professional Indemnity (PI) insurance is an important form of protection for businesses that provide specialist ...
read moreHow much does Professional Indemnity Insurance cost?
GET PROFESSIONAL INDEMNITY INSURANCE How much does Professional Indemnity Insurance cost? How Much Does Professional Indemnity Insurance Cost? Average Small Businesses Pay $112.28 Per Month Buy Online Instantly – No ...
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Professional Indemnity Insurance Get $25 off a new eligible policy* Use promo code BLACKFRIDAY Spending too much time finding the right Professional Indemnity cover? At BizCover, we will get you sorted No Hassle, No ...
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GET PROFESSIONAL INDEMNITY INSURANCE What is Professional Indemnity Insurance? What Is Professional Indemnity Insurance? Compare Quotes from Leading NZ Insureres Buy Online Instantly – No Paperwork Over 42,000 Policies ...
read moreDo I need Professional Indemnity Insurance Insurance?
GET PROFESSIONAL INDEMNITY INSURANCE Do I need Professional Indemnity Insurance? Why is it important for your business? Is it mandatory for your profession? Minimum Level of Cover What is NOT typically covered? Do I need ...
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read moreProfessional Indemnity Claims: when should I notify my insurer?
... or a service to your clients, your Professional Indemnity (PI) insurance is no doubt one of the most vital ... legal and compensation costs in the event of action taken against your business. Like all insurance policies ...
read moreHow the cost of Professional Indemnity insurance is calculated
... Professional Indemnity (PI) insurance policy is calculated and why one profession can often cost more than another? We look some of the key factors that that impact the cost of Professional Indemnity insurance. Insurance ...
read moreBusiness Risk: What Isn't Covered and Why it Matters
... . You don't need to know your policy by heart but having a rough idea of what's covered will certainly come in handy. For example, if you purchase Professional Indemnity (PI) insurance you should know that you're covered ...
read more6 Essential Types of Business Insurance in New Zealand
If you own a small business, there's no denying one of the most important things you need to protect is your business assets with Small Business Insurance . But what kind of insurance do you actually need? There's no ' ...
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read moreWhat does Public Liability Insurance Cover?
GET QUOTES & BUY What does Public Liability Insurance cover? What is Covered? When would I need Public Liability insurance? What could cause a claim? What is typically NOT covered by Public Liability insurance? What does ...
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... or injury that is not covered by the Accident Compensation Commission (ACC). Professional Indemnity Professional Indemnity (PI) insurance is an important form of protection for businesses that provide specialist services ...
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read moreWhat does Professional Indemnity Insurance cover?
Professional Indemnity 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 ...
read moreAn Accountants Guide to Understanding Public Liability Insurance
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Crunching numbers and helping your clients with their accounting queries is all in a day's work as an accountant. But even with all the years of experience, training and education, mistakes can happen when you least ...
read moreAn Engineers Guide To Understanding Professional Indemnity Insurance
... . PI Insurance will also assist with the legal costs associated with responding to or managing claims which are covered by the policy. What a policy typically covers Each Professional Indemnity insurance policy will ...
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read moreStatutory Liability Insurance
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There's a great deal of responsibility and care required when you provide specialist advice and services for a living . N o matter how professional you may be, all it takes is one dissatisfied client for you to ...
read more5 Things for Accountants to Consider When Applying for Professional Indemnity Insurance
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read moreCyber Liability Insurance
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read moreThe difference between public liability and professional indemnity insurance
It's important to understand the difference between Professional Indemnity and Public Liability insurance as the two types of cover can often cause confusion. Whilst both covers protect your business against legal action ...
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read moreWhat is Public Liability Insurance?
GET QUOTES & BUY What is Public Liability Insurance? GET QUOTES & BUY What is Public Liability Insurance? What Is Public Liability Insurance? Need business insurance? Compare quotes from NZ insurers, then buy online in ...
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We'll give you a hint, it's not fish and chips! A Business Insurance* pack offers a variety of different insurance options for the unique needs of small business owners out there. To help you get a better understanding ...
read moreDo I need Business Insurance
GET BUSINESS INSURANCE Do I Need Business Insurance? Do I need Business Insurance ? From accountants to tradies, hairdressers and personal trainers, no matter what kind of business you run, there is always some element ...
read moreInsurance for Engineers
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read moreReviews related to PI Insurance NZ Solo Practitioner
-
It was so easy and great time saver, prompt delivery to obtain the Public Liability and Professional Indemnity I require as an Occupational Health and Safety Consultant and Practitioner. Other quotes took well over a week to come back to me. Definitely r
Patricia Copp
Consultancy Occupations
What does insurance for
Professional Indemnity cover?
- Damages and claimant costs
awarded against the insured - Legal and defence costs
- Claims investigation costs
- Inquiry attendance costs
- Public relations costs
- Intentional damage
- Known claims and circumstances
- Fraud and dishonesty
- Bodily injury / property damage
Compare and Buy Insurance Online
No Hassle, No Paperwork, No Delay
A quantity surveyor went to an onsite meeting and misunderstood the verbal description and specifications of the building project. When the time came to pay, the estimate was out by many thousands of dollars.
The Project Manager looked to the quantity surveyor who had made the error and asked him to pay for the variation of cost. The surveyor’s insurer and made a quick settlement offer.
The potential liability in this case was greater than the fees actually earned for the job. Remember, a $1,000 fee contract can potentially generate millions in liability if something goes wrong.**
Could this happen to your business?
While we may strive for perfection, making mistakes is a part of the human condition. But since your clients rely on your advice, a mistake in your line of work could be costly. Professional Indemnity Insurance allows you to cover yourself if, and when, you do slip up in your day-to-day operations.
BizCover offers Professional Indemnity policies from a range of insurers with cover limits from $250K to $10M.
When determining how much cover you need, consider the following:
Are there any statutory requirements for your profession?
Are you a member of a professional body or association with a set requirement to hold PI insurance? If so, how much cover do they require you to have?
Do any of your work contracts specify that you must hold a certain level of PI insurance?
What is the value of the jobs that you perform?
What are the potential risks (i.e. what could go wrong?) and what are the potential costs to rectify any mistakes?
What would the legal and investigation costs
add up to if any action was taken against you?
Ensure you review your insurance regularly to assess your exposure risk and increase your level of cover accordingly.
Why choose BizCover?
As one of New Zealand’s leading online SME business insurance platform, our task is to make Professional Indemnity insurance a stress-free experience. But if you are still not convinced, here are a few other reasons why you should choose BizCover for your PI Insurance.
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Frequently asked questions
It’s a common misconception that Professional Indemnity insurance is only for accountants or, lawyers.. While these professions often do require PI cover, there are many fields that may need the protection Professional Indemnity insurance provides. If your job directly involves providing your professional advice or service, you have a duty of care to your customers.
An example of some professions that may require PI cover are: health practitioners, IT contractors, management consultants, accountants and real estate agents among many others.
Professional Indemnity cover may be necessary for:
- Anyone who provides paid professional advice or services to any business or individual
- Contractors who work for the government or other organisations whereby insurance is mandatory as a condition of the contract
The cost of Professional Indemnity insurance depends on a number of key factors including:
- The type of business you operate
- Your business size and turnover
- The amount of insurance cover you require
- The individuals being covered – are they qualified for the job they are performing
- Previous claims history
The simplest and most accurate way to find out how much a Professional Indemnity policy would cost for your business is to compare quotes to cover your business and its unique insurance needs.
Public Liability insurance protects you and your business against the financial implications if you are found liable for loss or damage to other people’s property, or cause illness or injury that is not covered by the Accident Compensation Commission (ACC).
Professional Indemnity 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.
Like other insurance policies there are a number of important conditions and obligations under your insurance contract that you need to understand.
Professional Indemnity insurance is issued on a ‘claims made and notified’ basis, meaning the policy responds to claims first made against the insured during the active policy period, and notified to the insurer during the policy period. In a nutshell for a claim to be considered, your policy must have been active at the time the allegation was made against you, and when the claim is lodged.
One of the vital conditions of a Professional Indemnity policy is that you may be required to give information around any circumstances that may give rise to a claim to your insurer. You have an obligation to inform your insurer as soon as practically possible once you become aware of any situation which could possibly result in a claim.
Failure to notify your insurer as soon as reasonably possible could lead to your claim being denied. So, even if you’re unsure whether it’s worthy of letting them know or not, it’s in your best interests to do so.
Have a question? Here to help
Visit our Contact Us page, where you can find out how to get in touch with one of our business insurance professionals.
Sales Team Enquiry 0800 249 268 Regular Hours: Mon – Fri 9:00 AM – 9:00 PM | Sat 11:00 AM – 7:00 PM |
You can also access quick links to our self-service portal, where you can download your Certificate of Currency, update your payment details, amend your cover and download your policy documents.
*This information is a general guide only and does not take into account your objectives, financial situation or needs. As with any insurance, cover will be subject to the terms, conditions and exclusions contained in the policy wording. The information contained on this web page is general only and should not be relied upon as advice. BizCover Limited is owned by BizCover Pty Ltd (ABN 68 127 707 975)*
* The provision of the claims examples are for illustrative purposes only and should not be seen as an indication as to how any potential claim will be assessed or accepted. Cover for a claim will depend on the specific circumstances around the loss and would be subject to the terms and conditions of the policy concerned. As with any insurance, cover will be subject to the terms, conditions and exclusions contained in the policy wording. The information contained in this article is general only. Coverage for claims on the policy will be determined by the insurer, not BizCover, and will depend on the specific facts and circumstances involved.