Professional Indemnity Insurance

Professionals are generally considered to be experts in their field, and they are commonly held to have a higher duty of care than an ordinary person. If a professional makes a mistake or fails to render their services correctly in the course of their business, they could be sued. Notably, if their mistake results in financial loss or injury to a third party (e.g. a customer), that customer may take legal action against them to recover their losses.

Approximately 10% of professionals suffer allegations of non-performance from their customers each year. These allegations may not have any substance, but they will need to be defended. Defending against such an allegation is not only expensive but can cost the professional time and damage their reputation. If things do go wrong, the professional could be held responsible not only for their own actions but for those of their partners, employees, or volunteers.

Professional Indemnity (PI) insurance is designed for professionals who provide advice or a service to their customers.

The coverage is specifically intended to protect a professional against

  • legal costs and

  • claims for compensation to third parties

which may arise out of any civil liability, including an act, error, omission, or breach of a professional duty owed to a third party in the course of their professional business.

What do we cover?

    • Accounts Preparation

    • Bookkeeping

    • Company secretarial/ executor/ trusteeship

    • Forensic Accounting

    • Managment Accounting and Consulting

    • Superannuation Management/ Administration

    • Taxation

    • Agronomy

    • Animal Production and Nutrition

    • Aquaculture

    • Communication, Training

    • Crop Planting

    • Crop Yield Mapping

    • Crop Marketing

    • Food Science

    • Forestry

    • Horticulture

    • Irrigation, Water Management

    • Management Consulting

    • Natural Resource Management

    • Rural Development

    • Soil or Spray Management

    • Architecture

    • Drafting/ Detailing

    • Interior Design

    • Landscape Architecture

    • Project/Construction Management

    • Town Planning

    • Construction Management

    • Design

    • Acoustics

    • Civil Works

    • Drafting

    • Electrical

    • Environmental

    • Heating, Ventilation, Air-Conditioning

    • Hydraulic

    • Industrial

    • Lifts/ Elevators

    • Marine

    • Materials

    • Mechanical

    • Mining

    • Plumbing

    • Pollution Control

    • Project / Construction Management

    • Sewerage

    • Software and systems

    • Finance Broking

    • General Financial Planning Advice

    • Client Portfolio Administration and Reporting

    • Application Service Providers

    • Data Communication Services

    • Hardware Installation, Maintenance, Manufacture and/or Repair

    • Hosting Application Service Provider

    • Internet Security Provider

    • Internet Service Provider

    • IT Consultancy Services

    • IT Contracting Services

    • IT Education and/or Training

    • IT Help Desk and Support Services

    • IT Project Management

    • IT Recruitment and Placement Services

    • IT Security Systems and/or Consulting

    • IT Strategic Planning Consulting

    • LAN and WAN Providers

    • Network Design and Development

    • Search Engine Optimisation Services

    • Software Development, Design, Analysis, Programming, Testing and Sales

    • Software Maintenance/ Reselling

    • Systems Analysis

    • Systems Integration Services

    • Telecommunication Services

    • Value Added Reselling

    • Website Design and Development

    • Website Hosting Services

    • Acupuncture

    • Aromatherapy

    • Audiology

    • Beauty Therapy

    • Carer for the Disabled

    • Chinese Massage/ Medicine

    • Colour Therapy

    • Counsellors

    • Dermatology

    • Dietician/ Nutrition

    • Herbalist

    • Homeopathy

    • Kinesiology

    • Life Coaching

    • Massage

    • Medical Clinic

    • Naturopathy

    • Nursing

    • Occupational Therapy

    • Optometry

    • Osteopathy

    • Physiotherapy

    • Podiatry

    • Psychology

    • Radiography

    • Reflexology

    • Speech Therapy

    • Mortgage Valuations

    • Non-Mortgage Valuations

    • Auctioneering

    • Body Corporate Managers

    • Business Broking

    • Commercial Property & Strata Management

    • Commercial Property Sales

    • Facilities Management

    • Residential Property & Strata Management

    • Residential Property Sales

    • Rural Property Sales

    • Stock & Station Agent

    • Building (excluding Certification)

    • Land

    • Quantity

    • Aerial

    • Topographical

    • Hydrographic

    • Geothermal

IT Entities

Find out more about our latest capacity for

FINANCIAL PLANNERS

Limits Available

Up to $10,000,000 for Professional Indemnity Risks

    • Aerospace Engineers

    • Building Certifiers

    • Chiropractors

    • Financial Auditing

    • Labour Hire Companies

    • M+A and Corporate Advisory Services

    • Nuclear Engineers

    • Structural Engineers

Send Documents

Please send any proposal forms or queries to proposals@woodina.com.au.