Not only can it lead to an expensive lawsuit, but your business’s hard-earned reputation may be damaged as a result.
Professional indemnity insurance is crucial for businesses offering professional services or advice. Much like public liability insurance, which covers third-party injuries or property damage, professional indemnity insurance covers claims arising from mistakes, omissions, or negligence in your advice or services.
That’s why Professional Indemnity insurance matters – to help protect your assets and brand if your advice or insurance causes a client to take legal action against you.
In some occupations, Professional Indemnity insurance is mandatory, such as medicine, accounting, law, and businesses providing financial advice. Even in cases where it’s not required by law, it’s recommended for anyone who provides a professional service or advice in exchange for a fee.
Professional indemnity insurance provides extensive coverage for accidents, errors, and omissions. It is essential for professionals who offer expert advice to protect against potential claims that may arise in daily operations. A standard policy usually includes the following:
Insurance isn’t always a one-size-fits-all policy. Whether you’re in manufacturing, food and beverage, hospitality, property owner, tradie or providing professional services, we’re here to help structure your insurance program to suit.
Premium Funding is a financial management service that can help your business manage its cash flow and preserve working capital by spreading the cost of your insurance premiums instead of lump sum payments. At Regional, our brokers can assist with funding arrangements for your insurance program.
Our business insurance brokers are here to help you manage your policies and ensure you receive the right coverage for your business. We offer a range of insurance cover for various circumstances that may affect your operations. Work with a company that has your best interests in mind with Regional Insurance Brokers.
Speak with a Regional Business Insurance Broker today to find the perfect policy for your business needs.
