As a professional you are putting yourself out there. You are providing a service to the public. You are also human and mistakes do happen. In the event that you, or one of your employees unintentionally makes an error, or have an omission in your work and you could be held liable for in the event your client or third party suffers a financial loss.

1. Why it’s not safe to provide a Professional
Service to your clients without PI Insurance

2. Why it’s not safe to provide a Professional
Service to your clients without PI Insurance
As a professional you are putting yourself out there. You are providing a
service to the public. You are also human and mistakes do happen. In the
event that you, or one of your employees unintentionally makes an error,
or have an omission in your work and you could be held liable for in the
event your client or third party suffers a financial loss.
Even if you think this is something that is not possible for you, the truth that
it is no business is immune. Things do happen and generally when you
least expect it.

3. What Is Professional Indemnity Insurance?
Professional indemnity insurance provides protection for awards and defence
costs arising from allegations of professional negligence. It is designed to
provide protection for third party financial loss.
So don’t be the one that is caught without professional indemnity insurance.
In business, we don’t plan on doing anything on purpose, but accidents
do happen. What is unfortunate is when an accident results in an
individual being sued and that individual has to pay for the damages out
of pocket. They may have to sell their home or their possessions, or go
out of business as they are unable to fund the costs.

4. Purchasing Insurance
When purchasing insurance, remember, under current legislation there is a
requirement for the policyholder to understand the terms and conditions
of cover. Make sure you read the policy documents and have a relatively
good understanding of what type of policy you are purchasing covers. If
you do not understand something, ask your broker to explain. Too many
people make assumptions which can lead to disappointment in the event
of a claim. Under current legislations, clients have a responsibility to
understand the products in which you are purchasing.
Further information on Professional Indemnity Insurance is available
at www.it.optimuminsurance.com.au.

5. Connect With Us on Social Media
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http://www.optimuminsurance.com.au/Blog.aspx
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00198722059770097421/about

6. Phone +61 1300 739 861
Fax +61 1300 732 225
Hours 9.00am to 5.00pm (EST)
Monday – Friday
Email service@optimuminsurance.com.au
Website www.optimuminsurance.com.au
Office Location
Level 1, 27 Belgrave Street,
Manly NSW 2095
Contact Us
Presentation Disclaimer –– “This material contains general information only and may not suit your
particular circumstances. To decide if a policy is right for you please carefully read the relevant Product
Disclosure Statement (PDS) and/or Policy wording. A copy of the PDS or policy wording is available by
contacting our office on 1300 739 861;”
Disclosure Statement – “Optimum Insurance Services Pty Ltd is a Corporate Authorised
Representative of Insurance Advisernet Australia Pty Ltd (Car No. 291220), Australian Financial Services
Licence No 240549, ABN 15 003 886 687.”

7. THANK YOU
for your time