Can Professional Indemnity insurance cover retroactive claims?

Yes, many Professional Indemnity policies can include retroactive coverage, which protects against claims arising from incidents that occurred before the policy's effective date, provided that the policyholder was unaware of the potential claim at the time of purchasing the policy.

If you have insurance questions, Westralian Insurance can help.  Give our friendly and professional team a call today, on (08) 9302 1388, or visit www.westralianinsurance.com.au

What are common exclusions in Professional Indemnity insurance policies?

Exclusions can vary depending on the insurer and policy, but common exclusions may include claims arising from criminal acts, intentional wrongdoing, contractual liabilities not covered by the policy, and certain types of liabilities (e.g. bodily injury or property damage, which are typically covered by other types of insurance).

Professional Indemnity insurance is essential for those engaging in professional practice, including consultants, lawyers, financial planners, architects, engineers and more.

If you've got questions, Westralian Insurance can help.  We'll also ensure you and your business are fully protected, with an integrated insurance solution. Give our friendly, qualified team a call today, on (08) 9302 1388 or visit www.westralianinsurance.com.au

How much Professional Indemnity insurance do I need?

The amount of coverage needed depends on factors such as the nature of your business, the level of risk associated with your profession, contractual requirements from clients, and regulatory obligations.  It's important to assess your specific risks and consult with an insurance advisor to determine appropriate coverage limits. Typical limits of cover range from $250,000 to $10 million.

If you've got questions, Westralian Insurance can help!  Give our team a call today on (08) 9302 1388, or visit www.westralianinsurance.com.au

What does Professional Indemnity insurance cover?

Professional Indemnity insurance typically covers legal defense costs, settlements, and damages awarded in claims arising from allegations of professional negligence, errors, or omissions. It may also cover legal costs associated with defending against allegations, even if the claims are groundless.

If you've got questions, Westralian Insurance can help.  Give the professional team a call today, on (08) 9302 1388, or visit www.westralianinsurance.com.au