Professional indemnity insurance may help cover:
Settlement judgements
Claims investigation costs
Defence costs
Breach of duty
Intellectual property
Breach of privacy or confidentiality
Defamation
Lost or damaged documents
Negligence.
Professional indemnity insurance may help cover:
Settlement judgements
Claims investigation costs
Defence costs
Breach of duty
Intellectual property
Breach of privacy or confidentiality
Defamation
Lost or damaged documents
Negligence.
Professional indemnity insurance typically can’t cover:
Existing circumstances
Intentional damage
Contractual obligations
Bankruptcy.
The professional indemnity cover you’ll need to consider will vary based on a number of factors, such as:
The size of your business
The type of clients: direct, large or small agencies
Your experience
The scope of work
The number of staff
Your preference of coverage.
For advice specific to your business, speak to a broker.
Our team acts on behalf of clients to provide support and proactively guide clients through the claims process.
You can contact your Marsh representative. They’ll help you with lodging a claim.
‘Claims made’ is a term used to describe an insurance policy that covers claims during the policy term – not necessarily when the alleged incident occurred.
This is because advice or service errors in many professions are often discovered weeks, months, or even years after the mistake was made.
Therefore, a professional indemnity policy – or 'run-off' policy – must be in place for a claim to be met by an insurer.
This policy also applies to changes to the limit of indemnity.
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LCPA 23/150
Marsh Ltd (NZBN 9429040918792)(“Marsh”) arranges insurance and is not an insurer. This webpage contains general information, does not take into account your individual objectives, financial situation or needs and may not suit your personal circumstances. For full details of the terms, conditions and limitations of the covers and before making any decision about whether to acquire the product, refer to the specific policy wordings and/or product disclosure statements available from Marsh on request.