Professional Indemnity

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Professional Indemnity Insurance

Professional Indemnity Insurance Premiums In Line For Huge Increases

The Australian Institute of Building Surveyors (AIBS) says ministers have failed to address the immediate professional indemnity (PI) insurance crisis, focusing instead on long-term reform. Despite “encouraging signs” on building regulation improvements at last week’s Building Ministers’ Forum in Sydney, AIBS CEO Brett Mace says “nothing arising from the meeting will give comfort to building surveyors and other industry professionals faced with unworkable PI insurance policies right now”. The scale of combustible cladding and other defects on buildings across the country has

Continuous Cover Professional Indemnity Insurance

What does Continuous Cover mean in my professional indemnity policy

What does Continuous Cover mean in my professional indemnity policy? Professional Indemnity policies are written on a Claims Made policy which generally excludes claims arising from circumstances known to the insured before the start of the policy period. If, when the notification is investigated and its shown that your client did not disclose their knowledge of any potential claim this could lead to denial of the claim. Therefore, the Continuous Cover clause is there to extend cover under the policy to

Fence Safety Inspecting

Professional Indemnity For Swimming Pool Barrier and Fence Safety Inspecting and Certifying

Quotesonline can now arrange quotes for Professional Indemnity Insurance for Swimming Pool Barrier and Fence Safety Inspecting and Certifying. In response to regulations requiring Swimming Pool Barrier and Fence Safety Inspecting and Certifying businesses to have Professional Indemnity insurance, the team at Quotesonline can now arrange quotes through Solution, we are very pleased to announce that we have made this occupation available to quote. What is Professional Indemnity Insurance? Put simply, this is insurance that covers people against claims resulting from

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Understanding Professional Indemnity Insurance

  What is Professional Indemnity insurance Insurance is an industry that has been accused of hiding behind confusing and confounding terminology. Whether it’s because of outdated legal reasons or (as with some other industries) because practitioners want to maintain their status by using obscure language – the insurance industry could often baffle us mere mortals with their jargon. Take Professional Indemnity insurance – an impressive product name but what is it all about? Put simply, this is insurance that covers people against claims

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Quotesonline Quoting More Occupations For Professional Indemnity Insurance Cover

Quotesonline Now Quoting More Occupations For Professional Indemnity Insurance Cover Anywhere Anytime   What is Professional Indemnity Insurance? A professional indemnity insurance policy safeguards your business by providing cover against such claims as financial loss, including legal defence costs. What Occupations can be quoted? Now Quotesonline can arrange quotes for more occupations , including Arbitrators/Mediators, Archaeologists, Celebrants, Custom Agents, Freight Forwarding, Funeral Directors, Interpreters, Meteorological Consultants,  Migration Consultants, Oceanographic Consultants, Public Relations Consultants, Solar Energy Consultants,  Speech Pathologists, Translators, Travel Agents, Wine

Do Plumbers need Professional Indemnity?

Do plumbers need Professional Indemnity? There was a time when plumbers simply turned up and replaced a washer, installed a tap and re-seated the shower. Then builders and developers asked the tradie for a copy of their public liability insurance policy, why? The policy was to protect the contractor against property damage or personal injury to a third party. Now to get onto the same worksite some developers and builders are asking the plumber to have professional indemnity insurance. This is

Professional Indemnity Insurance what is Claims Made basis

Professional Indemnity insurance policies operate on a ‘Claims Made’ basis. In other words, the policy which responds is the policy in place at the time a claim is made against your practice or when you notify the insurer of circumstances that may give rise to a claim as opposed to when the work which is the subject of the claim was done. What this means is that you need to have Professional Indemnity Insurance cover in place

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Professional Indemnity Insurance requirements for Chartered Practicing Accountants

  Professional Indemnity Insurance requirements for CPA After a review of Professional Indemnity Insurance requirements for Chartered Practicing Accountants, the CPA has released more details of the recommendations on the CPA website • The minimum PII cover to be held by a Member will be $2 million (higher PII requirements apply for practices of more than 20 principals or where fee income for the prior year is more than $10 million). Refer to the Professional standards scheme fact

Public Liability Insurer Rebrands

Public liability and professional indemnity insurer  W. R. Berkley Insurance Australia rebrands to Berkley Insurance Australia. W. R. Berkley Insurance Australia (WRBIA), currently a branch of W. R. Berkley Insurance (Europe), Limited (WRBIEL), has announced it will operate as a branch of Berkley Insurance Company (“BIC”). In addition, WRBIA will rebrand to “Berkley Insurance Australia”. BIC is the primary and largest underwriting entity within W. R. Berkley Corporation and

Professional indemnity premiums down 4 per cent

APRA-regulated general insurers wrote $1,318 million of gross premium during the 2013 underwriting year, down 3.5 per cent from the previous year ($1,366 million). This premium related to about 601,000 PI risks written in the 2013 underwriting year, up 12.0 per cent from the previous year (about 537,000). APRA has released the National Claims and Policies Database (NCPD) figures for Professional Indemnity and

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