LA Insurance

Professional indemnity insurance

Essential insurance coverage for construction projects.

Professional indemnity insurance

Protect your business against claims of

Professional Indemnity insurance (also known as Professional Liability Insurance, or PI Insurance) is specifically designed to provide financial protection for businesses that provide advice or services for a fee. It’s actually mandatory for many professions in Australia. But even where it isn’t, it can still be a very sound risk management option, as it protects you against legal costs and court awarded damages relating to actual or alleged negligence claims arising from professional services or advice you or your business provides to customers and clients.

What does professional indemnity include?

The exact cover will depend on your occupation and scope of activities. Broadly speaking, Professional Indemnity insurance covers negligent acts, errors or omissions. Even with the best training or risk management, people still make mistakes, contractors can provide incorrect specifications or advice incorrectly understood. Professional Indemnity insurance is an easy way to protect yourself and your business from large financial losses.

What does it cover?

Professional indemnity insurance provides comprehensive coverage to protect you against a range of risks and liabilities.
A policy would typically cover:
– Public Relations costs
– Legal defence costs
– Payment of damages
– Breach of consumer, competition and fair-trading laws
– Loss of documents
– Infringement of intellectual property rights
– Malpractice and misdiagnosis
– Defamation, libel or slander

Protect yourself against
claims of negligence

Protect yourself against claims of negligence

Professional indemnity insurance FAQs

The amount of coverage you need depends on various factors, including your profession, the size of your business, the types of projects you undertake, and regulatory requirements. Our team can help assess your needs and recommend an appropriate coverage level tailored to your specific situation. 

In the event of a claim, you should notify us immediately and provide all relevant details and documentation. Our claims team will assess the situation, conduct investigations if necessary, and work with you to resolve the claim efficiently. We strive to make the claims process as smooth and transparent as possible for our clients.

The following professionals should have professional indemnity insurance: 

  • Consultants
  • Accountants
  • Engineers
  • Architects
  • Legal professionals
  • IT professionals
  • And more