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Real Estate Agents – Professional Indemnity

Statewide Insurance Brokers have been providing insurance services to the Real Estate profession for 40+ years, and have a tailored range of products to ensure all risk management needs of the Real Estate industry are adequately covered, at extremely competitive pricing.

We work with and for Real Estate Agents, Property Managers, Strata Agents and the Real Estate Industry as whole, and specialise in Professional Indemnity Insurance Coverage.  We utilise all major Australian Insurers, as well as a panel of specialist Underwriting Agencies, to ensure our Professional Indemnity coverage remains industry best practice, at best pricing.

Features include, but not limited to:

  • Civil liability wording
  • Automatic reinstatements up to three times the limit of indemnity
  • Bodily injury up to limit of indemnity selected
  • Loss of documents
  • Complaint defence costs
  • Trade Practices Act cover
  • Vicarious liability of sub-contractors, consultants or agents
  • Principal/partners previous business
  • Broad definition of Professional Business
  • Worldwide cover excluding USA and Canada
  • Fraud and dishonesty
  • Joint Venture liability

Launching soon, will be our online binding facility for Real Estate Professional Indemnity, an industry first.

So What is Professional Indemnity?

Our Real Estate Professional Indemnity policies provide you and your business with comprehensive protection against claims for financial loss, and injury or property damage arising from an act, error or omission in the performance of your professional services.

If an error or omission occurs in the course of your work, and that error or omission causes a financial loss or injury to your client or any other third party, then they can claim damages against you.  This may result in you incurring significant costs (including legal costs) and reputational damage, which can be a significant disruption and financial burden to any business.

Professional Indemnity Insurance protects you from bearing the full cost of these claims and disputes, and from the time and resources they consume.

The threat of claims and litigation is very real and can potentially bankrupt businesses, small or large. It may seem like a distant possibility, but legal action often arises from an unforeseen event to completely disrupt businesses.  REIWA mandates $1,000,000 of cover for licenced Real Estate Agents – our policies are available at this level and higher, with automatic reinstatements.

Professional Indemnity is written on a claims made basis. This means that the policy provides cover for claims that are made against you and notified to the insurer during the period of cover, irrespective of the date when the cause of action may have occurred.

Some Things You’re Covered For

  • Cover for civil liabilities including breach of duty, defamation, loss of or damage to documents, infringement of intellectual property and more
  • Covers bodily injury and property damage claims arising from the professional services covered by the policy
  • Claims investigation costs (i.e. costs of investigating, defending and settling claims)
  • Automatic reinstatement of the Policy Limit
  • Continuous cover

Some Things Professional Indemnity Does Not Cover

  • Claims and circumstances known before the period of insurance
  • Intentional damage
  • Insolvency of the insured
  • Terrorism

Documents

CGU PI POLICY WORDING

CGU REAL ESTATE PROPOSAL ADDENDUM

CGU REAL ESTATE PROPOSAL

DUAL PI POLICY WORDING

DUAL PROPOSAL

QBE PI POLICY WORDING

QBE REAL ESTATE PROPOSAL

STEADFAST PI SUMMARY OF DIFFERENCES

Obtain A Quote

Simple!  Contact Us at Statewide Insurance and we would be happy to source the market and arrange the best available terms for you.

 

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Calibre Insurance – New Insurance Provider

A new entrant to the Australian Insurance marketplace has emerged recently, named Calibre Insurance.  Well not totally new, a remorphing of Calliden Insurance – a company that has been providing specialist business lines and portfolio insurance to Australian brokers for 10+ years now.

Learn a little about Calibre Insurance and Great Lakes…

Calibre Commercial Insurance Pty Ltd (‘Calibre Insurance’) is a subsidiary of Münchener Rückversicherungs-Gesellschaft AG (Munich Re), part of Munich Re (Group). Munich Re (Group) is one of the largest insurance groups in the world.

While we have the security and credibility of a large global insurance group behind us, at Calibre Insurance we believe in a down to earth and straightforward approach to doing business. Our language is plain and simple. Our people are fair and helpful. We help brokers help their clients cope during times of loss.

As a specialised commercial insurance provider we have an established commercial insurance portfolio exclusively available through a growing network of good insurance brokers.

Learn more about the Calibre Insurance portfolio.

Calibre Commercial Insurance is underwritten by Great Lakes Australia, so your Insurance schedule may show as ‘Great Lakes’ – to all intents and purposes its the same entity.

About Great Lakes Australia

Great Lakes Australia is a branch office of Great Lakes Reinsurance (UK) SE (ARBN 127 740 532, ABN 18 964 580 576, AFSL 318603), and trading as Great Lakes Australia, a limited liability company incorporated in England and Wales and a wholly owned subsidiary of Munich Re and part of Munich Re (Group).

Great Lakes Reinsurance (UK) SE (ARBN 127 740 532, ABN 18 964 580 576, AFSL 318603) is an insurer authorised by the Australian Prudential Regulation Authority (‘APRA’) to carry on insurance business in Australia.

Great Lakes Reinsurance UK (SE) has strong financial security characteristics (S&P AA-)*.

About Munich Re

Calibre Insurance is a subsidiary of Munich Re, part of Munich Re (Group). Munich Re (Group) is one of the largest insurance groups in the world.

Munich Re stands for exceptional solution-based expertise, consistent risk management, financial stability and client proximity. Munich Re’s business model is based on the combination of primary insurance and reinsurance under one roof.

Munich Re take on risks worldwide of every type and complexity, and their experience, financial strength, efficiency and first-class service make them the first choice for all matters relating to risk. Their client relationships are built on trust and cooperation and they operate in all lines of insurance, with almost 43,000 employees throughout the world.

Calibre currently focuses on 4 lines of General Insurance Business, placed through brokers Australia wide.

  • Business Package
  • Industrial Special Risks (ISR)
  • General Liability
  • Specialty Liability.

Calibre also provides exclusive schemes and facilities for groups, associations, and specific occupations.  Visit Statewide’s SalonCover scheme for Hair & Beauty Insurance, arranged through Calibre Insurance – or Contact us for any insurance needs.

event insurance
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Event Insurance

As we spring in to the festive season and business events become increasingly regular, are you covered if you need to cancel an event?

Pen Underwriting is one specialist provider that is able to offer tailored event cancellation and non appearance insurance for a wide variety of events and artists.

Coverage includes cancellation and abandonment, non appearance, pluvius/weather and prize indemnity, for the likes of:

  • Major acts and artists;
  • Concerts and events;
  • Producers of theatre shows, musicals or similar;
  • Fairs, fetes and shows;
  • Promoters and third party suppliers with costs, expenses and revenue dependent on the event;
  • Event organisers wanting to offer an incentive prize to attract customers, patrons or attendees;
  • Media companies, broadcasters, sponsors, advertisers and promotion agencies;
  • Product launches;
  • Advertising campaigns;
  • Small bands on tour at small venues, festivals and events;
  • Graduation ceremonies;
  • Conferences and expos (annual and event specific);
  • Venues expecting revenue for bookings dependent on the acts.

So if hosting an event or planning a business related event, please contact us to discuss your event insurance options.