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What is Professional Indemnity Insurance?

professional indemnity

So what is Professional Indemnity Insurance?

Professional Indemnity Insurance provides indemnity for claims brought against the insured company and its principals, partners and employees for financial loss, injury or damage arising from a breach (or an alleged breach) of your professional duty in the course of conducting their business.  Its the most common of the class often known as Financial Lines Insurance.

Directors & Officers Liability Insurance

Directors & Officers Liability Insurance provides protection for the personal assets of directors and officers by providing indemnity for loss arising from a claim as a result of a ‘wrongful act’ committed by them in the course of conducting their business.

Management Liability Insurance

Management Liability Insurance is a comprehensive insurance product that has been designed specifically for private companies and their directors and officers.

Employment Practices Liability Insurance

Employment Practices Liability Insurance provides cover for actions taken by employees against employers for alleged discrimination, unfair dismissal and sexual or workplace harassment.

Fidelity Insurance

Fidelity Insurance can provide cover for direct financial loss caused by loss of money, negotiable instrument, bearer bonds or coupons, stamps, bank notes, cheques, letters of credit, as a result of theft, fraud, dishonest or criminal acts committed by an employee or a third party.

Medical Malpractice Liability Insurance

Malpractice Liability Insurance is a combined cover for Professional Indemnity, Malpractice and Public (General) & Products Liability Insurance.

IT Professional Indemnity & Liability Insurance

Insurance for the IT Industry including Web-Developers, IT Project Managers, Computer Consultants, Programmers, etc. Information Technology Liability Insurance is a combined cover for Professional Indemnity and Public (General) & Products Liability Insurance.

Association Liability Insurance

Association/Non-Profit Organisation Liability Insurance is a comprehensive insurance product that has been designed specifically to protect both the assets of associations/non-profit organisations and the assets of their directors and officers. It combines several insurance policies, to provide a broad range of cover under the one policy.

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The Value of Insurance Brokers

The Value of Insurance Brokers

The structure and protection provided by an effective insurance program are essential to business and community life.  Insurance brokers are vital components of the business process. We advise business owners and managers on the best ways to transfer the inevitable risks they carry as part of doing business.

The role of the broker is to understand the business, identify all the risks, find the best available cover through a range of insurers, assisting the client in understanding options and represent the client’s interests in any negotiation with insurers.

Brokers’ services enable businesses to plan ahead with the certainty of knowing they have financial protection against loss, injury or any threat to the well-being of their business.

Brokers also provide invaluable help in the event of a claim. They know and understand the system and can simplify a process that is often time-consuming and technically difficult.

And brokers act in the interests of the client, not the insurer.

The broker’s role to serve the client’s interests with integrity at all times is enshrined in legislation (the Financial Services Reform Act 2004 and the Corporations Act 2001) as well as the Insurance Brokers Code of Practice.

why choose statewide

Why Choose Statewide ?

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