Competitive Online Quotes for Professional Indemnity Insurance and Public Liability Insurance

Your clients rely on you to provide them with high-quality service and expert guidance. However, despite your best efforts, things may go wrong at times, or you may be accused of committing a wrong, thereby subjecting you and your staff to legal action. In some situations, compensation claims may be not only substantial but perhaps enormous. Professional indemnity insurance protects your company from third-party claims originating from liabilities deriving from your business activities and acts performed while carrying out your duties or providing professional advice.

Professional indemnity claims can arise from simple things, such as:

• Providing incorrect advice
• Incorrect diagnosis or treatment
• Acts of omissions or negligence
• Breach of duty
• Loss of documentation
• Copywriter creating designs similar to a copyrighted one
• A miscalculation of misjudgement
• Failing to meet a deadline
• Accountant auditing incorrectly, resulting in financial losses for the client
• Not meeting the expectations of the client
• Misleading or deceptive conduct

Professional indemnity insurance protects professionals and organisations that provide fee-based advice or services against errors and omissions. It will also cover any claims made against you as a result of alleged negligence or breach of duty.

Professional indemnity insurance typically covers the below:

• Civil liabilities claim
• Bodily injury and injury to property
• Defamation, or slander
• Public relations expenses
• Legal costs and expenses
• Infringement of intellectual property
• Estates and legal representatives
• Costs associated with disciplinary proceedings

However, keep in mind that professional indemnity insurance has some limitations. Bodily injuries that are not directly related to your professional duty, claims made before to the insurance period, and terrorism claims against you are not covered.

Professional indemnity insurance, while not required, could be very useful in providing coverage for professional service providers and firms that provide advice or services to clients for a charge, regardless of size. Real estate agents and accountants, for example, are required by law to carry professional indemnity insurance.

PublicLiabilityInsurance.com.au provides online quotes from its expert panel of insurers for a wide range of professionals and industries including:

• Healthcare workers
• Accountants
• Architects and engineers
• Travel agents
• General insurance agents
• Management consultants
• Risk management professionals
• Training organisations
• Veterinarians

Public liability insurance

As a public-facing company, you have a legal obligation to take reasonable precautions for the safety of your customers, suppliers, customers, and members of the general public. Public liability insurance can assist secure your company's growth and success by protecting you from a legal lawsuit filed against you by a customer, supplier, or member of the general public for damages caused by your negligent business operations. As the owner of a business, you owe a duty of care to any third person that comes into touch with your company and its activities.

Not all businesses require public liability insurance, but some, such as a rock climbing company or a manufacturing plant dealing with hazardous substances, are inherently more likely to cause damage to public property or members of the public. Due of the heightened danger of causing harm to members of the public, such enterprises may require a higher premium for public liability insurance. A florist, on the other hand, has a lesser chance of causing harm to the public and hence must pay a significantly lower premium.

A public liability insurance typically covers the below:

• Loss or damage caused to third party property
• Personal injury or death of a third party
• Legal costs associated with defending the claim
• Compensation for the covered claim

What is not covered by public liability insurance?

Because an injured worker is protected by workers' compensation, public liability insurance would not cover your liability. It will also not cover product recalls and withdrawals, as well as punitive damages given if a judge deems your behaviour was particularly heinous.

Difference between professional indemnity insurance and public liability insurance

Professional indemnity insurance protects you for the professional services you provide to clients, whereas public liability insurance protects you from bodily harm and property damage. Public indemnity insurance covers you for allegations made regardless of when the professional service was delivered, but public liability insurance covers you for the alleged incident within the policy period, even if the claim is filed after the policy has expired.

Get immediate online quotes from the experts.

No matter how difficult or unusual your case is, PublicLiabilityInsurance.com.au has specialist professional indemnity insurance and public liability insurance underwriting and claims teams who will tailor the ideal policy for you and provide the best quotations. The company's experienced insurance panel will make certain that the coverage works for you and achieves your goals. Furthermore, if you need to file a claim, PublicLiabilityInsurance.com.au will assist and help you during the claims process.

We help businesses with their public liability insurance needs. Check out our website