Insurance options for Australian consultants, advisers and professional service businesses, including professional indemnity, public liability, cyber insurance and cover for business operations.
INSURANCE FOR THE PROFESSIONAL SERVICES INDUSTRY
Providing professional advice, specialist knowledge or services comes with responsibilities that extend beyond your day-to-day operations. From allegations of professional negligence and errors in advice to cyber incidents, client disputes and unexpected business interruptions, certain events can expose professional service businesses to significant financial and legal risks.
Whether you're an independent consultant, management adviser, IT professional, marketing agency or established professional services firm, the insurance you may need depends on the services you provide, your contractual obligations, the information you handle and the potential consequences of your work.
Professional indemnity insurance is an important consideration for many professional service providers, but it may not address every exposure. Depending on your operations, you may also need to consider public liability, cyber insurance, management liability, business property or other forms of commercial insurance.
At AMC Insurance Brokers, we help professional service businesses assess their activities, understand available insurance options and consider arrangements relevant to their professional responsibilities, operational exposures and contractual requirements.
From the advice you provide to the information you manage, understanding your insurance options is an important part of managing professional and business risks.
Your Professional LiabilityConsidering potential exposure to claims involving alleged errors, omissions, negligence or breaches of professional duty arising from the services you provide. | Your DataExploring insurance options for certain cyber incidents, data breaches, privacy-related exposures and technology risks associated with your business operations. | Your OperationsConsidering risks involving third-party liability, business property, management responsibilities and interruptions to business activities following insured events. |
COVERAGE DETAILS
The types of insurance available to professional service businesses depend on the nature of their services, contractual responsibilities, business activities and insurer underwriting requirements.
Professional Indemnity InsuranceCover may be available for certain civil liability claims arising from alleged professional negligence, errors, omissions or breaches of professional duty, including eligible defence costs. | Public Liability InsuranceCover for certain third-party personal injury or property damage claims arising from insured business activities, such as incidents involving visitors to your office. | Cyber InsuranceCover may be available for specified cyber incidents, including data breaches, cyber extortion, incident response costs and certain business interruption losses. | Management Liability InsuranceCover options for certain claims and liabilities involving company management, employment practices and other specified management-related exposures. |
Business PackCombine selected insurance covers for office contents, business equipment, theft, property damage and other insured business risks under one policy. | Crime & FidelityCover may be available for certain financial losses following insured events that interrupt business operations, subject to applicable policy triggers and conditions. | Portable Equipment InsuranceCover may be available for eligible laptops, mobile devices and other insured business equipment used away from your office.
| Business InterruptionCover may be available for certain financial losses following insured events that interrupt business operations, subject to applicable policy triggers and conditions. |
Coverage descriptions are general information only. Availability, limits, excesses, exclusions, retroactive dates and claims conditions vary by insurer and policy. Not all covers are included in a single insurance package.
TARGET MARKET
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Whether you're establishing a consulting practice, reviewing existing insurance arrangements or taking on clients with more complex contractual requirements, AMC Insurance Brokers can help you explore cover options relevant to your professional services, business activities and potential exposures.