Professional Indemnity Liability Insurance

Professional Indemnity Liability Insurance

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Professional Indemnity Insurance

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What does Professional Indemnity Insurance Cover?

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What is Professional Indemnity Insurance?

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BizCover & NZTA

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Understanding the risks for Real Estate Agents

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Help Protect your small business' reputation

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Public Liability Insurance

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Statutory Liability Insurance

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How much does Public Liability Insurance cost?

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Understanding Employers Liability Insurance

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Business Insurance FAQs

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Insurance by Industry

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Insurance for Beauty Salons

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Insurance for Shop Owners

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Insurance for IT Professionals

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Insurance for Bookkeepers

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Insurance for Recruitment Consultants

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Insurance for Immigration Advisers

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Insurance for Consultants

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Insurance for Architects & Designers

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Insurance for Allied Health Professionals

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Insurance for Travel Agents and Tour Operators

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Insurance for Mortgage Brokers

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Insurance for Real Estate Agents

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Insurance for Engineers

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Insurance for Accountants & Tax Agents

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Insurance for Personal Trainers

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Why You Should Review Your Business Insurance

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How To Start A Small Business

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6 Reasons why some small businesses fail

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Cyber Liability Insurance

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Employers Liability Insurance

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What is Public Liability Insurance?

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What does Public Liability Insurance Cover?

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Do I need Public Liability Insurance?

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Insurance For Cafes and Restaurants

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Business Insurance

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Insurance for Tradesmen

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Insurance for Photographers

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Retailer Insurance

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Insurance for Hairdressers

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Insurance for Plumbers

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Insurance for Handyman

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Insurance for Painters

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Insurance for Cleaners

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Tool and Portable Equipment Insurance

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Introducing Work From Home Insurance

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What is Business Insurance

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What does business insurance cover

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Do I need Business Insurance

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Turn your side hustle into a small business

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Video Centre

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BizCover and NSNZ

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BizCover and Reflexology NZ

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BizCover and Massage New Zealand

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BizCover and Boost Your Business

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Priceme

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BizCover and n3

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No Dramas

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Why do brilliant business ideas sometimes fail?

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How To Stay Motivated As A Small Business Owner

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10 Ways To Help Protect Your Small Business

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What does Public Liability Insurance Cover?

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How Cyber Insurance Protects Small Businesses

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It's Time for an Insurance Health Check!

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Insurance Options for Retailers

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Reviews related to Professional Indemnity Liability Insurance

  • 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

  • Got my PI cover sorted within 15 mins over the phone.

    Kaushalya Samarasekera
    Information Technology

Independent feedback from our customers rated our service at excellent.

What is covered?

  • Damages and claimant costs awarded against the insured
  • Legal and defence costs
  • Claims investigation costs
  • Inquiry attendance costs
  • Public relations costs

What is NOT covered?

  • Intentional damage
  • Known claims and circumstances
  • Fraud and dishonesty
  • Bodily injury / property damage

Get the cover that is right for you

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.

Protect your business today.

FAQs

How much does Professional Indemnity Insurance Cost?

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.

What is difference between Professional Indemnity and Public Liability Insurance?

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.

When should I notify the insurer for Professional Indemnity Claim?

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.

What is notification and why is it important?

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.

* * 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.

Need Help?

Visit our Contact Us page, where you can find out how to get in touch with one of our business insurance professionals. 

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. 

 

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