Professionals Australia can arrange Professional Indemnity Insurance for Professionals Australia Architects through access to a panel of Insurers who are specialists in Architects Professional Indemnity Insurance.
An architects Professional Indemnity policy is designed to protect the Professionals business assets against damages award against them by a court, or resulting from an approved negotiated settlement, in relation to a civil liability. Civil liability includes, but is not restricted to statutory obligations such as consumer protection legislation, eg Trade practices law, defamation, infringement of copyright, trademark, patents, plagiarism and breach of confidentiality.
If you have a civil liability it is most likely that you have engaged in acts, errors or omissions in respect of your conduct of the professional business for which you are liable.
Sometimes the most value in a professional indemnity policy is the legal defence costs. If it is alleged that your advice was negligent and caused a loss, the insurance policy will pay for your legal costs to defend that action, regardless of whether the action is baseless. In addition, the policy will pay for damages awarded against you, which is in effect an amount awarded to the third party to rectify or compensate for the error caused by your business.
Professionals Australia offer:
Policy advice and contract review service
We have a team of professionals keen to offer a free quotation and even compare policy coverage to ensure you are getting quality advice for the right price.