No matter what professional business you're involved in, if you provide advice or are otherwise engaged as an expert, you may be at risk of being sued for negligence, breach of duty or misleading and deceptive conduct.

 

A Professional Indemnity Insurance policy offers protection against negligent acts, errors and omissions of individuals and businesses that provide advice to third parties. It will provide indemnification for civil liabilities arising from any breach of a duty owed in a professional capacity in connection with the firm’s business.

 

Allegations can undermine your business and the prevalence of legal actions against professional and financial institutions is growing. Allegations may include:

• Breach of fiduciary duties

• Negligent advice

• Misrepresentation

• Misleading information

• Breach of contract

• Breach of confidentiality

Key benefits of a standard Professional Indemnity policy include:

• Defamation, libel and slander

• Trade practices liability

• Defence costs

• Loss of documents

• Intellectual property infringement

• Insured vicarious liability in respect of consultants, contractors, sub contractors and agents

• Joint venture liability (insured liability only)

 

For more information on Professional Indemnity Insurance please contact us.