How Professional Indemnity Insurance Works In Australia

Get to know how professional indemnity insurance works in Australia. Read on to take full advantage of your PI policy cover.

You can count on the cover of your professional indemnity insurance when dealing with claims arising from allegations of incorrect professional advice or errors in your services. Whenever dissatisfied clients make liability claims, your PI insurance has your back.

In the following sections, we will tackle how this type of insurance works in Australia and how you can take advantage of its cover. 

Steps/General Overview on How PI Insurance Work in Australia

The protection of your PI insurance is invoked once you've received a letter of demand (LOD) seeking compensation for damages and threatening lawsuit if the claim is not addressed.

regardless of how preposterous or baseless the claim is, don't ignore it and take the following steps:

Notify your insurance broker. Do this as soon as you receive an LOD, but not long after the claim escalates to a lawsuit to avoid hefty legal costs.

Let your insurer do the work for you. Once you have notified your broker, your insurer will work on the case on your behalf, settling claims before they escalate into lawsuits.  

If the claim goes to court, you will get limited legal cover. The limits of this cover are defined in your policy.

Defining Professional Indemnity Insurance

PI insurance protects against liability claims made by third parties who have allegedly suffered losses directly related to the services that you've rendered. For example, a nutritionist will be subject to such claims if they fail to provide an appropriate diet for their client and medical complications ensue. Note that this type of insurance will cover the damages allegedly suffered by the claimant.

What does professional indemnity insurance cover?

Damages due to your negligence - Personal injuries, property damage, and financial losses caused by your negligent acts while rendering your services

Damages due to your contractor/employee's negligence - Losses incurred due to negligence of your employees or contractors 

Defamation - Spoken or written false statements that may harm a third party's reputation 

Breach of professional duty - Breach of confidentiality, privacy, or trust

Public relations expenses - PR meant to protect your reputation 

FAQ

Why is Professional Indemnity Insurance Important?

PI insurance is important as it helps you address claims due to errors or allegations of mistakes made while rendering your professional services. Your insurance will bear part of the legal action expenses involved in settling these claims.

What if I don't provide the ARBV with my professional indemnity insurance policy documentation?

Without a copy of the Certificate of Currency for your PI insurance, the ARBV may reject your application or suspend the registration altogether. 

What's the difference between Public Liability Insurance and Professional Indemnity Insurance?

Professional indemnity insurance covers claims made against you concerning your professional advice or services. For example, PI policy may cover engineers who are subjected to liability claims due to errors in their structural design.

Public liability insurance, meanwhile, covers claims related to your interactions with the public. When, for example, a visitor slips and falls while on your business premise, your insurance has you covered if they decide to make a claim. 

I am applying to register as a practicing architect. Do I need professional indemnity insurance?

Yes, you do. The ARBV will require you to provide a copy of your policy's certificate of currency and other relevant documents.

phantom of the opera + twitter

failing a saw trap and as the life drains from your body you hear the oompa loompas come out and start singing

Socialism is the fire department saving your house. Capitalism is the insurance company denying your claim.

I am really tired of a situation rn.

If I had a nickel for every-time a principal of our school committed tax and/or embezzling, I’d have two nickels, which isn’t much but it’s weird that it happened twice.

the pile of roots cut out so far 👍

Been thinking about how the next episode is a total mystery to both manga readers and anime-only fans. From a promotional standpoint, this is a perfect opportunity for them to do something wildly shocking. As far as I know, a situation like this hasn’t come up before in the fandom. It makes me think that they’re preparing for something huge that they didn’t want half the fandom to know before the other half.

And my delusional ass wants it to be Soukoku canon. Like wasn’t there an interview or something about how this season will show the true depth of Chuuya and Dazai’s relationship? And that ship is a really big part of the fandom- it would rock us to the core if it became canon.

I know there’s like no chance logically, but man wouldn’t that be cool. They’ve set themselves up for a reveal of that caliber. This is the perfect time for them to follow through.

Your Guide to Professional Indemnity Insurance Limits in Australia

The limits of Professional Indemnity Insurance vary. The best way to know the limitations of your policy is by exploring the needs of your profession.

Professional Indemnity insurance is important and most of the time required in Australia. Considering the responsibilities attributed to the chosen profession, it is only wise to have a complete understanding of what this insurance entails. Only then can you fully be confident in the protection such policies provide.

Identifying the limits of PI insurance involves examining your existing contracts and evaluating the risks you are exposed to. To calculate your insurance limits, we need to take a look at the varying risks of your career and responsibilities. 

 What limit of professional indemnity insurance do I need? 

You first need to assess your current contracts and projects. The bigger the clientele, the higher the limit. Doing this ensures that you get coverage for future claims. If you are just starting out, then you can meet in the middle. This way, you have room for growth and acquiring more clients.

Factors to Consider When Selecting Professional Indemnity Limit

Like most insurance policies, professional indemnity insurance is tailor-fitted to your needs. The only way to determine the limit that is best for you is through the following guidelines:

Must be sufficient to meet the size of future claims

This answers the following questions: What type of business do you have? How many clients are you working with? What is your biggest contract value?

The limit you need to set should coincide with the risks you may encounter. Contracts of bigger value entail more risks compared to the others. So your priority is to ensure that your insurance covers future claims relating to your biggest client. 

Must be adequate to cover claims from past activities

Upon purchasing a policy, you need to ask yourself the following: What claims can arise from my previous engagements? How many claims have I made in the past two years? 

These questions assess the frequency of insurance payout you do. If your business or profession involves higher risks, this means you most likely max out your insurance policies. If that's the case, then going for the highest limit might be best for you. 

Must be enough to cover the dollar value of both the claim and the costs of defending your policy

To help you with this, use the following questions: Is my policy inclusive of both claim and defense costs? Does the limit apply to both or separate? 

For the indemnity limit to suit you, it has to provide optimum protection, which can only be achieved if there is a separate limit for claims and another one for defense costs. 

What is the minimum limit of indemnity cover?

The minimum limit should at least be compliant with your association or membership-giving body's requirements. Depending on the profession this can range between $1,000,000 to $2,000,000. If you are not part of any association, you can base the limit on the minimum amount set in a standard contract. 

We hope this guide helps you understand professional indemnity insurance limits and empower you to select the appropriate insurance provider who can help protect you. Always remember to cover all the bases and be prepared for the future.

Please my family* is dying

*function executives

my car, the car that i only just bought in july of last year, my car that is still under warranty, both manufacturer and extended, has been having some concerning problems recently - lurching on acceleration, stuttering on braking. and it’s been making this sound that i can only liken to an elephant trumpeting reeeally quietly? idk, it’s weird. so i took it back to the dealership i bought it from to have it looked at. they said it had to go somewhere else, i said no problem. so i call the brand specific dealerships in the area and not a single one of the eight (EIGHT) in the basin have any availability until JUNE?!

respectfully, that shit stalled on me pulling onto the *highway*. look at my goddamn car??? this is a safety issue??? when it inevitably happens again it could kill me???

but i call the dealership near my dad’s house over three hours away and they can see me tomorrow? how am i supposed to drive an unreliable car that far through back country just to get it checked in a timely fashion? how is this tiny town and its one dealership more available than this boomtown and its eight? make! it! make! sense!

FICLET: Plans (MLB, Lukanette)

Characters/Pairings: Luka Couffaine, Marinette Dupain-Cheng; Luka Couffaine/Marinette Dupain-Cheng

Rating: General Audiences

Summary: Marinette gets sick and has to miss Luka’s show.

Author’s Notes/Warnings: …I’m supposed to be in DC tonight for a concert, but covid said no, so I’m moping.

Read on Ao3

“Plans”

Glassy blue eyes stared out at him from the blanket cocoon.  Not even the distance and crappy wifi could cover that up, but he wasn’t sure if it was the illness or the tears she was barely suppressing.  He wasn’t sure he wanted to know.

“There will be other shows, darning,” he said, brushing his thumb across the screen like it was her forehead.

“…shut up,” she mumbled.

“You know it’s for the best,” he said.  Like something as silly as logic would make up for the fact that she was too sick to travel today.

“Luka,” she whined, dropping her face against the bed and pulling the blanket closer.

He settled back against the bench with a sigh, dropping his head against the cool glass window behind him as he let her cry it out.  He hated it, too.  He wanted to be there with her – he should be there with her.  Making her crappy canned soup and holding her hair back while she threw up and clapping her back when she got too congested.  You know, the sick stuff you did when your better half was too ill to be much more than a bed burrito.

…but he’d been travelling for about a month now.  Working on the new album.  Prepping for the next tour.  Bouncing between studios to collaborate with old friends.  He had a few shows lined up over the next two weeks, and then he’d be home for about a month before the summer tour started.

She’d been busy, too.  With a few needy high-demand clients and a charity event that all meant she hadn’t been able to travel much with him.  He was only two hours away tonight, but she had diligently been keeping that night clear on her calendar so she could meet up with him.  Grab some dinner before the show.  Grab some time after before the bus had to roll out the next day.

They’d both been looking forward to it.  It was the only thing that had kept him sane at some points over the past month.

…but she’d been pushing herself too hard.  Like she always did.  And Jocelyn’s allergies had been acting up, until Jocelyn had texted her about five days back saying it wasn’t allergies.  And then Marinette’s cold wasn’t just a cold, and she was fine.  She honestly was.  They’d been lucky.

…but it still wasn’t safe for her to travel.  She didn’t want to risk getting others sick, but more than that she wasn’t strong enough yet.  He wouldn’t let her.  As much as he wanted to see her, he didn’t want her to stress herself making the trip just to relapse.

“I’ll see you in two weeks,” he said, rubbing the screen again.  “It’ll go by in a flash.  And you’ll be feeling worlds better, and I can play you whatever you want –”

“You know it’s not the concert I’m upset about,” she moaned, raising her head to glare at him.  “I miss you, you idiot.”

It would have been more effective if she hadn’t started coughing in the middle of it.

“It’s a little bit the concert,” he teased, smiling softly.  Hoping to make her smile.  It wavered when she just glared balefully at him.  “Admit it: you needed the night out.”

“What I needed was a night in,” she whined.  She looked away as she started coughing again, and when she turned back the blanket was bunched up so only her weary eyes were visible.  “With my husband.  The past week in doesn’t count.”

“I know, darning,” he said.  “I need a night in, too.  But I need you to be safe more.”

“I was safe,” she grumped.  “Stupid Joce and her stupid not-allergies.”

“You love her, too,” he said.  She hummed, and he knew she didn’t mean it.  Besides, Jocelyn was already beating herself up enough over this.  “You look ready to drop, Mari.  Go back to bed for me?”

“I am in bed,” she mumbled.

“Sleep,” he insisted.  “I’ll check in before the show.  And after.  No encores tonight, I promise.”

“I love your encores,” she sighed.  She giggled, and it would have made him feel better if it hadn’t turned into another coughing fit.  “Remember…remember Jay’s face when you did My Marinette Is My Only Family?”

He did.  His dad hadn’t been able to finish the song, he’d been laughing so hard.

Good times.

“I’ll save them for when I’m home, then,” he chuckled.  He brought his phone up to his mouth and kissed the camera.  “Please, darning.  Take care of yourself.”

“I hate this,” she whined.  He swallowed.

“Me, too,” he said.  Her hand slipped, until she was barely in the screen and most of what he was seeing was their ceiling.

“Play my song for me?” she asked.  He nodded, though he wasn’t sure she saw it.

“Every night,” he said, chuckling.  He’d been touring long enough that she knew it was his closing number in every set.  “Get some rest.  I’ll be home before you know it.”

It was for the best.  They both knew that.

It didn’t make it hurt any less when he took the stage that night and she wasn’t waiting for him in the wings.

I skipped to watch the bonus content during the intermission in WAD first.

This line and the whole "Denial Dream Homes" segement perfectly captures the vibes of the insurance selling claims and posts I saw this weekend after the tornado outbreak in the Omaha Metero & Western Iowa on Friday 🙃

Dealing with my health insurance every year is becoming like this meme:

The first few months of the year I'm constantly fighting my health insurance to communicate with my pharmacy insurance because the deductible is supposed to be combined but they're not being combined.. so I'm paying for appointments as if I didn't hit my $3,500 deductible already

But then after they fix it, it's smooth sailing till the new year because I'll have hit my out-of-pocket max by then and they'll be stuck giving my expensive ass free healthcare for the rest of the year 😉

I'm actually so sick and fucking tired of people who think covid is comparable to the flu. Just bc you or a family member got it and didn't die doesn't mean it's not super fucking serious and life threatening, ESPECIALLY for disabled people/people with health issues/autoimmune disorders. Every time my father sees me wearing a mask he rants about how covid is just like the flu and that everyone is over reacting and [insert shitty conspiracy theory here] and it makes me so upset every goddamn time. I got covid half a year ago, despite doing everything right, thanks to my parents' stupidity. I was sick for 13 days, entirely bedridden and feverish for 9 of those days. I physically couldn't get out of bed, not even to piss, the entire first day my mother had to half carry me everywhere. Same thing the second day, when she dragged me to the doctor where I tested positive. The first five days, I couldn't even look at an electronic device and had to keep the lights off all the time bc I'd actually vomit. I had a migraine that didn't go away no matter what medicine I took, for the entire the first week. My nose was constantly stuffy and my sinuses were so backed up I couldn't breathe through my nose, which made breathing in general so difficult and painful bc my asthma was also exacerbated. So my chest hurt too. All my normal chronic pain was magnified tenfold. I had a 103 fever for three days in a row, then it fluctuated between 98-100 the rest of the time. Thinking about it right now I still remember the pain and how it felt. I've had strep throat, a lot as a kid. I've had chicken pox, and the flu several times, because my parents never fucking vaccinated us. I have never been more sick in my goddamn life than I was with covid. And this is just me. Yes I'm disabled and yes I'm still being tested for possible autoimmune disorders (my mom and her whole side of the family have them) but even still I'm not nearly as at risk as a lot of people, and I was still more affected than anyone in my entire family, who have all also gotten covid because of their own stupidity. My taste and smell were never affected, but I'm still losing hair from it, which is apparently also a symptom I never knew about.

Wear. Your fucking. Masks. Covid is still around, it's still super fucking serious, it is NOT just like the flu, and you had fucking better take it seriously. Even if you don't care about getting it yourself, at least show some goddamn consideration for others whose health and lives are at risk.