Professional indemnity offers trusted protection for professionals

A huge range of professionals rely on Professional Indemnity Insurance because their work involves giving advice, providing expertise, or handling sensitive information. This includes accountants, architects, bookkeepers, engineers, consultants, designers, disability support workers, finance and mortgage brokers, hairdressers, beauty therapists, IT professionals, surveyors, marketers, personal trainers, project managers, psychologists, tutors, massage and complementary therapists, real estate agents, recruiters, and many more. If clients depend on your knowledge or judgement, Professional Indemnity cover is essential.

Professional Indemnity Insurance is all about protecting you when your work is questioned. It can cover:

• Compensation costs if a claim is made and damages are awarded.
• Negligence or errors such as incorrect advice, design mistakes, or oversights in your work.
• Breach of duty, protecting you if a client says you didn’t meet your professional obligations.
• Misleading or deceptive conduct, covering claims that your information or advice led someone astray.
• Breach of confidentiality, including mishandling or exposing sensitive client information.
• Loss of documents, helping replace or restore important files that are damaged, lost, or destroyed.
• Defamation, covering claims of slander or libel arising from your professional work.
• Intellectual property infringement, if you’re accused of using someone else’s IP without permission.
• Legal defence costs, even if you’re ultimately found not to be at faul
• Damages payable, covering compensation owed to a client if their claim succeeds.
• Public relations support, helping manage reputational fallout from a claim or negative publicity.

Like any policy, there are limits to what Professional Indemnity insurance will cover. Common exclusions include:

• Intentional acts, including dishonest, fraudulent, or criminal behaviour.
• Injury or property damage, which is normally covered under public liability insurance instead.
• Public liability events, such as accidental spills, slips, or physical damage to property.
• Contractual liabilities, including unpaid debts or loan repayments.
• Known issues, where circumstances existed before the policy began.
• Claims between insured parties, often referred to as “insured vs insured” exclusions.
• Specific high-risk issues, such as asbestos-related claims.
• Claims better suited to other policies, like Directors & Officers, Employment Liability, or Product Liability insurance.
• Criminal prosecution, which is not covered under Professional Indemnity Insurance.

When something goes wrong, knowing what to do next makes all the difference. Here’s how the claims process typically works:

• Notify your insurer as soon as possible.
• Document all information to help strengthen your claim.
• Take steps to prevent further damage 
• Submit your formal claim with all supporting documents.
• An insurance assessor will review the claim.
• Negotiation and settlement take place.
• Your claim is finalised.

At iinsure, our in-house claims team manages everything directly with the insurer – negotiations, follow-ups, and communication. We’re here to advocate for you and make sure you receive fair and timely outcomes. 

When it comes to protecting your business, working with a broker like iinsure provides significant advantages that you simply cannot access when dealing directly with insurance companies.

Access to Extensive Insurer Networks

One of the most compelling reasons to use a broker is market access. iinsure provides access to over 150 insurers through their Steadfast Network advantage, giving you unparalleled market access and negotiating power.

Expert Guidance and Tailored Solutions

Insurance needs vary dramatically between businesses, and a broker’s expertise becomes invaluable in navigating these complexities: Brokers help assess your income replacement needs, occupation-specific risks, and budget constraints to find policies that fit your specific situation without overextending financially.

Independent Advice

As an independent broker, our loyalty lies with you, not insurance companies. This means objective advice and representation of your interests when selecting policies and managing claims.

Ongoing Support

Unlike direct purchases, brokers provide continuous policy reviews and support as your business evolves, ensuring your coverage remains appropriate across all three insurance types.