Whether you interact with members of the public, operate your business from a dedicated location or supply goods, ensuring you have appropriate Public and Products Liability Insurance for your business will help protect you from costly legal and compensation expenses if the unexpected happens. At Strive Insurance, we consider your individual circumstances and help ensure your business is fully protected and covered with the insurance you need.
Professional Indemnity Insurance
It’s easy to make mistakes – we all do. But mistakes can be costly in businesses.
Professional Indemnity can help you protect both the financial costs and reputational risks associated with business-related mistakes.
Professional Indemnity Insurance is mandatory in some industries including medicine, accounting, law and financial advisors. However, it’s also recommended for anyone who is providing professional services or advice in exchange for payment. If you’re unsure whether you could need Professional Indemnity Insurance have a chat to us about your job and we can provide tailored advice.
Professional Indemnity Insurance can include:
Inquiry costs: covers the costs of defending an enquiry by a regulatory body into professional conduct
Defence costs: Covers the costs involved in defending a claim
Fidelity cover: Covers financial loss for the business caused by dishonest or fraudulent conduct of an employee (e.g. theft by an employee)
Advancement of costs and expenses: additional costs and expenses that are incurred during a claim
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For more information on the different type of business insurance, as well as any compulsary business insurance you may need, you can visit the Australian Government Business Insurance Page here.