What are the Benefits of Professional Indemnity Insurance?

What is PI Insurance?

Professional Indemnity Insurance is essential protection for professional consultants who provide a service for a fee. It provides indemnity for claims brought against the insured for financial loss, injury or damage arising from a breach (or an alleged breach) of professional duty in the course of conducting business and aims to protect the company’s position and assets in the event of a claim so that they are able to carry on their business.

Policy Cover and Features

Professional Indemnity Insurance aims to provide protection for:

• Settlements, compensation and/or damages awarded against the insured; and/or

• Legal costs and other expenses associated with defending a claim.

Policy features may include:

• Trade Practices Legislation

• Libel and slander dishonesty

• Loss of documents

• Defence costs

• Official enquiries cover

Benefits

What are the benefits of having Professional Indemnity Insurance cover?

• Peace of mind.

• Saving valuable time in the incidence of an allegation.

• Reduction in the possibility of interruption to your business.

• Reduction in the probability of lost income from an interruption to your business if you had to defend an allegation.

How

• Knowing there are legal professionals in the claims department waiting to take care of any allegation made against you.

• Knowing any claim will be represented by solicitors experienced in the area of Professional Indemnity Insurance.

• Knowing the legal costs incurred will not only be covered by a Professional Indemnity policy, but will be reduced because of the experienced professionals engaged to defend your claim.

Compare Insurance Quotes & Buy Online

To obtain a quotation, enquire online at www.it.optimuminsurance.com.au

As every business is different, we have several options for businesses to obtain quotations:

• Comparative Quotation – this option is ideal for businesses with under $2million turnover. You can obtain a quotation specific for your businesses needs and purchase cover online.

• Online Application – Business’s exceeding to $2million turnover, please complete the online proposal form. This will enable a quotation to be provided based on your specific business needs.

In most circumstances we are able to provide an quote over the phone. If you would like to discuss your needs further, contact us on 1300 739 861.

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Presentation Disclaimer –– “This material contains general information only and may not suit your

particular circumstances. To decide if a policy is right for you please carefully read the relevant Product

Disclosure Statement (PDS) and/or Policy wording. A copy of the PDS or policy wording is available by

contacting our office on 1300 739 861;”

Disclosure Statement – “Optimum Insurance Services Pty Ltd is a Corporate Authorised

Representative of Insurance Advisernet Australia Pty Ltd (Car No. 291220), Australian Financial Services

Licence No 240549, ABN 15 003 886 687.”