Professional Indemnity

Why Do You Need Professional Indemnity Insurance?

Professional indemnity insurance is designed to protect you and your Not For Profit organisation against claims for alleged negligence or breach of duty arising from an act, error or omission in the performance of professional services. In simple terms, if you do something or fail to do something and if someone suffers financial loss or is injured in the process, as a result of your professional negligence (i.e. they rely on advice or information you provide and suffer a financial loss), they may decide to take legal action and sue you for compensation, which for the legal costs alone can amount to thousands of dollars (millions potentially for the settlement). However, with the right policy, you can protect your organisation.

Whilst it is arguably true that most not for profit organisations might not provide advice in the same manner that an accountant, lawyer, insurance broker or other similar person does, this cover is particularly important for firms providing health and care services or other firms providing advisory services.

Helping You Keep Your Organisation Safe

Defending a claim of professional misconduct, negligence or breach of duty requires a lot of time and money. You could be held responsible for your actions, as well as those of your volunteers, partners and employees. With the professional indemnity insurance programs that we provide through our range of insurers which can also include legal defence costs and safeguard your organisation against such claims, allowing you to go about your work confidently knowing that we, and the insurer will be in your corner when you need us most.

When you work with us, you can rest easy knowing that many of the professional indemnity insurance policies we provide often include the following:

  • Definition of Insured extended to include Volunteers
  • Cover for inadvertent slander or libel
  • Compensation for court attendance
  • Indemnity to contractors
  • Joint Venture liability
  • Public Relations Expenses

Contact Us Today

Do you need professional indemnity insurance coverage? Not For Profit Insurance is just what you need, so please contact us now on 1300 NFP INS (1300 637 437) for more information about our professional indemnity insurance policies or to schedule an appointment with us!