Professional Indemnity insurance covers a breach of your duty of care and/or duty to warn, whilst performing your day to day business activities. Any errors or omissions that result in a financial loss to a third party could result in a claim being made against you.
Generally anyone that takes a fee for service and offers advice or a product that a third party relies on, should strongly consider insuring against professional negligence.
Just because you don't carry out inspections and reports doesn't mean that you don't need Professional Indemnity insurance. Here are some examples of what your professional indemnity policy would cover:
- Failure to report on evidence of timber pests during a timber pest inspection
- Failure to report on building defects during a building inspection
- An unsuccessful termite treatment that resulted in further termite damage to a property
- Incorrect weed, pest or agricultural chemical application that has caused damage to lawns, vegetation, crops or other property
- Damage resulting from a chemical treatment, such as damage to paint work on a house
- Damage to carpets and upholstery caused by a cleaning agent
Our Professional Indemnity policy, underwritten by Pacific International Insurance Pty Limited, is specifically written to cover the industries that we insure.
We offer up to $2,000,000 cover with competitive premiums with an option
for higher cover if requested. We recommend that you take a level of cover that is sufficient to provide for the cost of both the damage caused, or in the case of an inspection the damage missed, and the cost of a legal case.
If you would like further information in regards to this product, or a proposal form, please contact us or phone 1300 309 169.
The above is intended as a summary only of the policy.