As a professional you are putting yourself out there. You are providing a service to the public. You are also human and mistakes do happen. In the event that you, or one of your employees unintentionally makes an error, or have an omission in your work and you could be held liable for in the event your client or third party suffers a financial loss.

Even if you think this is something that is not possible for you, the truth that it is no business is immune. Things do happen and generally when you least expect it.

Professional indemnity insurance provides protection for awards and defend costs arising from allegations of professional negligence. It is designed to provide protection for third party financial loss.

So don’t be the one that is caught without professional indemnity insurance.  In business, we don’t plan on doing anything on purpose, but accidents do happen. What is unfortunate is when an accident results in an individual being sued and that individual has to pay for the damages out of pocket. They may have to sell their home or their possessions, or go out of business as they are unable to fund the costs.

When purchasing insurance, remember, under current legislation there is a requirement for the policyholder to understand the terms and conditions of cover. Make sure you read the policy documents and have a relatively good understanding of what type of policy you are purchasing covers. If you do not understand something, ask your broker to explain. Too many people make assumptions which can lead to disappointment in the event of a claim. Under current legislation’s, clients have a responsibility to understand the products in which you are purchasing.

Further information on Professional indemnity insurance is available at


Disclaimer – “This material contains general information only and may not suit your particular circumstances. To decide if a policy is right for you please carefully read the relevant Product Disclosure Statement (PDS) and/or Policy wording. While we have exercised due care and skill in preparing this information, Optimum Insurance Services (Optimum) does not accept any legal responsibility or liability for negligence or otherwise to you or anyone else who seeks to rely on this information. This includes, without limitation, loss arising from a possible failure of the information to comply with statutory or regulatory requirements or the failure of the information to identify other terms and conditions beyond those considered in this document. You should obtain advice to ensure that your policy provides adequate cover for your circumstances.

Optimum Insurance Services Pty Ltd is a Corporate Authorised Representative of Insurance Advisernet Australia Pty Ltd (Car No. 291220), Australian Financial Services Licence No 240549, ABN 15 003 886 687.”


Download Our Free Insurance Guides

Business Owners Guide To Risk & Insurance Protection

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Business Owners Guide to Professional Indemnity Insurance

Professional Indemnity Insurance Guide

Business Owners Guide to General Insurance Claims

Insurance Claims Procedures Guide And Checklists


Optimum Insurance Services Pty Ltd is a Corporate Authorised Representative (No. 291220) of Insurance Advisernet Australia Pty Ltd (AFSL No. 240549).


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