Policy Features
Professional Indemnity Insurance is designed to deal with financial loss arising from a Principal's reliance upon the service provided, and in many cases is a compulsory purchase for many professionals providing advice.
In the event that a Principal suffers a financial loss as a result of alleged negligent act, error or omission, Professional Indemnity Insurance covers the professional the legal costs associated with defending claims and any damages awarded.
This type of insurance is available to most professionals and in many instances, it is a requirement to carry a minimum level of Professional Indemnity Insurance by law.
Why do Management Consultants require Professional Indemnity Insurance ?
Management Consultants provide advice to their clients to improve their business processes and/or practices. This could range from process re-engineering through to providing strategic / organizational / quality management advice for a business.
In the event that a claim is made against the Management Consultant, Professional Indemnity Insurance will indemnify the Consultant in respect to claims made for any negligent act, error or omission.
It is advisable that Management Consultants hold some Professional Indemnity Insurance as potential claims can be expensive to litigate and can put the viability of the Consultants business at risk particularly where they are found to be negligent.
Why Management Consultants should purchase their Professional Indemnity Insurance through Express Insurance ?
Using Express Insurance takes the hassle out of buying your insurance. We have partnered with QBE, one of Australia's leading insurers, to provide comprehensive cover at an affordable price.
You can get a Professional Indemnity quote in a matter of seconds then either save the quote back to your email account for purchasing later, or proceed to buy your insurance and produce your Certificate in minutes.
And all of our online products are supported by Professional Indemnity specialists who have years of experience in assisting clients of all sizes from all industries.
In conjunction with premier Australian insurer QBE we have created a comprehensive and competitive Professional Indemnity Insurance facility for Management Consultants carrying out one or more of the following Business Activities:
- Strategic Planning
- Organisation Design & Development
- Quality Management & Assurance
- Business Process Improvement/Reengineering
- Manufacturing Systems Consultancy
- Human Resources Consultancy
- Marketing Consultancy
- Systems Analysis
- Outsourcing & Facilities Management
- Non-Construction Project Management
- Health & Safety Training
- Non-Health & Safety Training
Why purchase your Professional Indemnity Insurance through Express Insurance?
With Express Insurance, you can source a PI quote in seconds, and have the option of adding Public Liability Insurance. You can then proceed to buy the insurance and produce your Certificate of Insurance in minutes, or alternatively save the quote back to your email account for buying later.
And we save your details on Renewal of your insurance, making the process of renewing your PI Insurance even easier and quicker.
Throughout your experience with us our team of highly experienced PI specialists are a phone call away!
Please Note: Coverage under the policy will be subject to the particular circumstances relating to a claim and the full terms and conditions of the policy.
Policy Features
Price
PI premiums are determined by your Turnover and PL Premiums by the number of staff under your employ. All insurers charge a minimum premium in both respects.
We believe we have negotiated highly competitive premiums for both classes of insurance, and will continue to monitor premium levels available in the market to ensure this remains the case.
Premiums vary between states as a result of differing stamp duty rates, however our minimum Total Premiums for Professional Indemnity ($1M cover) start from $776 (incl. GST).
Purpose
For your own protection you should have a minimum level of Professional Indemnity(PI) insurance. In the event that the services you provide for a client lead to a claim against that client they will generally look at claiming against the contractor. PI insurance will protect you in the event that this occurs.
In addition, the majority of jobs you are contracted to do, and most tenders you respond to call for proof that you have a minimum level of PI and Public Liability cover.... You will generally not be considered for a job without it !
Convenience
We have designed the Insurance application process so it only takes an average of 5 minutes to complete your application. In most cases your application will be instantly approved online, and you can print your Confirmation of Insurance to prove that you have the requisite cover in place... It's that easy!! All other documentation, such as your tax invoice, policy schedule and wording will be emailed directly to you for your records.
If the policy can't be issued immediately because we require further information, we will contact you generally on the same day.
Renewal
Approximately one month prior to the renewal of your policy you will receive a renewal reminder email with a link that will allow you to review your previous years cover and renew the policy even quicker!
* We have minimized the number of referral situations so that most applications will be automatically accepted. However, if for example you have prior claims we will contact you to facilitate completion of your application personally with the Insurer.
Insurer
Your Insurance policy is arranged by Express Insurance acting as an agent of QBE Insurance ( Australia ) Limited (ABN 78003 191035).
QBE holds an Australian financial service licence (AFSL 280193).
QBE carries a Standard & Poors rating of "A+" and has been providing peace of mind to Australians and overseas clients for more than 120 years.
QBE Australia is a member of the QBE Insurance Group, Australia's largest international insurance and reinsurance group and one of the top25 in the world. They operate in all key insurance markets with offices in 45 countries staffed by around 13,000 team members.
Charitable Contribution
Plan is one of the oldest and largest children's development organisations in the world. We work with communities in 50 developing countries and raise funds to support our work in 21 countries like Australia.
By actively involving children, and working at a grassroots level with no religious or political agenda, we unite and inspire people around the globe to transform the world for children.
Lodge a Claim
We will work with you to ensure that claims are handled in a professional manner and that you get a fair outcome from the Insurer. The first step is to lodge your claim form.
