The Real Value of Getting Professional and Public Liability Insurances from the Trusted Brokers

by Jesus Dover Public Liability Insurance

Despite your best efforts, a professional indemnity insurance claim may be filed against you for a variety of reasons, including providing incorrect professional advice or engaging in a negligent act of omission or commission. Professional indemnity insurance is required in Australia for some businesses, including some registered professions. Even if public liability insurance is not required for your business type, it would certainly benefit you because many of your clients may want to know that your company is financially strong enough to deal with adverse situations and unexpected events.

Some other reasons that can result in a professional indemnity insurance claim against you include:

•          Non-intentional professional misconduct
•          Providing a misleading or negligent advice
•          Confidentiality and privacy breaches
•          Loss or damage to documents
•          Defamation, loss, or slander
•          Infringement of intellectual property

A professional indemnity insurance policy will protect you from claims made against you for any of these reasons. To settle a professional indemnity insurance claim, you will be compensated for the amount covered as well as any litigation costs.

Professional indemnity insurance does not typically cover intentional damage or misconduct, contractual liabilities, acts of fraud or dishonesty, or the refund of processional fees.

Factors to consider for professional indemnity insurance in Australia

When considering professional indemnity insurance, you should consider a variety of factors, such as the potential risks that are typical to your business, such as the increased likelihood of injury due to chemical spills if you run a chemicals factory. You should also consider the value of the projects or services you are offering, as well as the statutory requirements of your profession and any professional bodies to which you belong. However, deciding on the best professional indemnity insurance for yourself can be overwhelming, which is where the expertise of professional brokerage services, such as those provided by Public Liability Insurance, can come in handy.

Do you need public liability insurance?

If you interact with the public because of the nature of your business, such as a restaurant or travel company, there is always the risk of something going wrong, and you or your employees may end up causing harm to members of the public or their property. If this occurs, you will be legally obligated to pay for the resulting damages.

Public liability insurance is one of the most widely used policies in Australia, particularly among small and medium-sized businesses. It is intended to protect your company in the event that a member of the public files a claim against you for bodily harm, negligent business practices, or property damage. It will reimburse you for the costs of the claim as well as any legal fees associated with defending a claim.

Some of the typical trades that should consider public liability insurance in Australia include:

•          Trades
•          Professionals
•          Manufacturers
•          Electrician
•          Wholesalers
•          Plumbing services
•          Office-based
•          Beauty care and salon
•          Travel and tourism

Even if you are not directly at fault, you may face a public liability insurance claim in Australia for injuries to members of the public caused by third-party machinery or tools in your control or custody. Businesses in Australia are frequently asked to provide proof of public liability insurance and its coverage. You should check with your primary contractor, council, or landlord to ensure that you have adequate public liability insurance coverage in Australia.

The following are also covered by the public and products liability insurance in Australia:

• Bodily injury, sickness, loss of consortium, or death
• Malicious persecution, wrongful imprisonment, or false arrest
• Discrimination based on intellectual impairment, disability, race, religion, etc.
• Defamation, libel, or slander 

The advantage of obtaining professional indemnity insurance, also known as public liability insurance in Australia, through the Public Liability Insurance is that you can compare and select the right cover for yourself from the leading insurance providers in Australia, including Protecsure, Allianz, QBE, Steadfast, Vero, Lloyd's, and others. Keep some basic information handy while getting online quotes for professional indemnity insurance or public liability insurance Australia, such as your business details (such as the nature of your business and the number of employees), your annual turnover, contract details, and information about any previous claims.

Tailored solutions for your business needs

If you are not satisfied with the online quotes and prefer personalised advice, the expert brokers at Public Liability Insurance will assist you with tailored solutions for your public liability insurance Australia and professional indemnity insurance. This way, you'll have real people adding real value to your insurance needs in Australia, including medical and health insurance, tradesman public liability insurance, wholesalers insurance, scaffolding insurance, mining insurance, and more.

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Created on Jun 27th 2022 00:24. Viewed 208 times.

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