Professional Indemnity Insurance – Are you exposed to claims?

Is your business adequately protected with Professional Indemnity Insurance?

It’s a question many business owners overlook, assuming that their Public Liability insurance covers all potential legal actions. However, this common misconception can lead to serious consequences.

Public Liability policies typically exclude coverage for professional advice or services provided to clients. This means that your business could be at risk of legal action stemming from the advice it provides, or even the advice it fails to give when needed.

The omission of advice, no matter how seemingly insignificant, can result in a legal battle.

Professional Indemnity Insurance isn’t just a protective shield for you and your business; it also offers peace of mind to your customers, assuring them that they are safeguarded against any errors or omissions made by you or your staff.

Whether you offer advice or professional services, it’s essential to consider Professional Indemnity Insurance for your business.

This applies to a wide range of professionals, from Medical Practitioners, Engineers, Architects, Accountants, Financial Planners, and Real Estate Professionals to Tradesmen, Project Managers, and Site Supervisors who might not always be aware of the potential risks.

Here’s why it’s a necessity:

Damages Awarded to a Third Party: If your service or advice leads to financial loss, property damage, or bodily harm to a client, you could be held responsible for covering all damages. Professional Indemnity Insurance will step in to meet these costs.

Legal Defence: In addition to covering damages, Professional Indemnity Insurance handles all legal defense expenses. Even if the court ultimately clears you of any wrongdoing, legal defense costs can escalate to tens or even hundreds of thousands of dollars. With Professional Indemnity Insurance, you won’t have to dig into your pockets for legal fees.

Peace of Mind: As a business owner, your focus should be on growth, not litigation. This insurance provides peace of mind, allowing you to concentrate on what you do best. Moreover, having Professional Indemnity Insurance is increasingly becoming a requirement to access job sites or secure new contracts.

Don’t let unexpected challenges cripple or close your business.

Contact one of our Insurance Professionals today for a smart investment in your long-term success.  Secure your future and protect your business.

Learn more about the importance of Professional Indemnity Insurance on our website Learn More >>>

Safeguard your business and ensure its longevity with Professional Indemnity Insurance.

For tailored policy that meets your specific business needs, reach out to our qualified team on 07 4786 1747.

 

Got a Question about Business Insurance?

Speak to our experienced and accredited team at Connected Insurance Brokers.

Connected Insurance Brokers is a part of the Steadfast Group, the largest broking network in Australia.  We have access to over 150 different insurers ensuring that we can provide your business with a cover that meets your needs at a competitive price.

Our ‘Service Guarantee’ is underpinned by the skills and experience of our specialist insurance team. This ensures that you’re receiving the great service, high-quality policy management, and the premium claims support.

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Speak with our qualified team in Townsville or Bowen on 07 4786 1747 or email us at info@connectedinsurance.com.au

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