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Professional indemnity (PI) insurance

Help protect your business against claims of incorrect or misleading advice, breach of duty or negligence.

What is professional indemnity insurance?

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Safeguard your business

Help protect your business against allegations that your advice caused clients (or third parties) financial loss; and the legal costs that these claims may incur.

Liability limits tailored to your business needs

Liability limits can be tailored to fit the needs of your business. The liability limit is the maximum amount that can be received for a successful claim. Defence costs may be paid in addition.

Optional extension

To help protect your business further – and have better peace of mind you can add public liability insurance. 

Civil or Negligence

Can help protect you and your business against claims of professional negligence – and for the financial consequences that arise from these acts of neglect, error or omission and/or from civil liability

Defamation

The professional indemnity policy can help protect you and your business’s reputation against allegations of defamation, slander or libel – and all the costs or legal fees incurred.

Lost or damaged documents

Coverage for documents that are damaged or lost while in your custody – and may cover the costs to replace or restore these lost or damaged documents.

Claims investigation costs

A professional indemnity policy can help cover the legal costs and other expenses incurred in the investigation, defence and settlement of claims made against you.

Breach of duty

Can help protect you and your business against claims where you failed to carry out your professional duties – like lodging a client’s paperwork on time – and any expenses incurred.

Breach of privacy or confidentiality

Provides cover for allegations of breach of privacy or confidentiality – such as accidentally revealing a client’s personal data online – and any expenses incurred.

General exclusions

These are some examples of the general exclusions in professional indemnity insurance. Speak to your broker to find out more.

Existing circumstances

This professional indemnity policy does not cover claims or circumstances that have existed – and that you are aware of or know about – since before your policy start date.

Intentional damage

This professional indemnity insurance does not cover any costs associated with intentional property damage or personal injury you may cause to clients or third parties.

Contractual obligations

This policy does not cover costs or expenses that arise due to your compliance with contractual requirements or obligations that you and a client had previously agreed to.

Bankruptcy

Professional indemnity insurance may not cover loss, costs or claims that arise out of – or are connected with – your business’s bankruptcy, insolvency or liquidation.

Key product highlights

Minimise disruptions

Claims that your work caused clients damage or loss can mean disruptions to your business – and substantial costs in defence or compensation.

Coverage across industries

Professional indemnity policies can cover businesses across industries – including accountants, solicitors, travel agents, health therapists and graphic designers.

Cover costs

This policy can help protect your business and help cover legal costs, claims investigations and settlements.

Tailored to your industry

We can arrange for the professional indemnity coverage that suits the needs and risk profile of your business and occupation.

Why use a broker?

Choosing business insurance means navigating through products, coverages and policy terminology – with a sales pitch as your only guide. At Marsh, our brokers will spot your unique set of risks, match you to the right choice, and advocate for you on price.

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Why Marsh?

Why should you choose Marsh to arrange your insurance solutions?

In business, we've got your back 

From mum and dad’s dairy to national pizza chains, Marsh has a 60+ year history of supporting New Zealand’s business community. Our award-winning brokers are fluent in the latest global and Kiwi market insight and risk but cut through the jargon to speak your language.  

Local expertise

Our New Zealand-wide network of brokers have spent years at the forefront, supporting business owners manage their unique risks in a fast-changing market. Our brokers keep ahead of the latest market insights, both local and global, and break down complex terminology.

Claims support

Handling an insurance claim can quickly become overwhelming, not least when your time is stretched to the limit keeping your business going in the backdrop. We help take the load off and manage, negotiate and settle claims with insurers on your behalf.

Award-winning experts   

Marsh is a recognised industry leader, winning Large Broking Company of the Year 2022 and 2023 at the New Zealand Insurance Industry Awards

Tailored approach

Our team of specialist brokers can work with you in the way you’re most comfortable with. Whether that is online, through a phone call, or in person, all you have to do is let us know your preferred approach – and we’ll take care of the rest.

Superior capabilities

Our capabilities are unrivalled. With our ability to leverage the Marsh McLennan network across the Pacific and globally, you get to enjoy access to unparalleled insight, service, tools and capabilities across the full spectrum of risk.

Related insurance solutions

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Professional services cover

Whether you’re a sole trader or freelance professional, help protect your consultancy business with professional indemnity insurance.

Accommodation and hospitality insurance

Hospitality workers work hard. Take a load off – let us arrange a comprehensive policy tailored to your needs.

Accountancy insurance

You can count on Marsh to arrange insurance solutions to help protect you and your firm with comprehensive cover.
   

 

Travel agent insurance

We can arrange insurance products and services that may suit the travel industry, including professional indemnity and income protection.

 

Graphic design insurance

Looking for user-friendly insurance that help cover your design business's unique risks and needs? We can help.

 

 

Public liability cover

Help protect your business against third-party accidents and costly legal fees. Let us arrange the right cover for your needs.
  

Management liability cover

Help protect your business – and your team – against management and operational risks with management liability cover.
   

Cybersecurity insurance

Cyber attacks are becoming increasingly common. Help protect your small business with cyber insurance solutions arranged by Marsh.

Frequently asked questions

The cost of your professional indemnity insurance will depend on several factors, including your business size, revenue, and services provided.

When requesting a quote, be sure to fill in the form values as accurately as possible, so we can arrange the right premium and cover for your business.

Or you can request a call back to speak to a Marsh advisor for a clearer picture.

Generally, professional indemnity insurance doesn’t cover existing circumstances, intentional damage, contractual obligations and bankruptcy.

Professional indemnity insurance can cover you for claims made due to incorrect or misleading advice.

Public liability, on the other hand, can cover you against claims resulting from property damage, accidents or injuries that happen due to your business activities.

Yes. The terms are interchangeable, and they refer to the same insurance.

‘Claims made’ is an insurance policy that covers claims made against you during the current insurance period – regardless of when the claim event happened.

Professional indemnity policies provide a ‘claims made’ cover, because errors in these professions are often discovered weeks, months or even years after the mistake was made.

This means you must have a current professional indemnity policy or a ‘run-off’ policy in place at the time of the claim, as you won’t be protected by old policies.

Another important note: If the indemnity limit has been changed, it’s the limit in effect when the claim is lodged (ie 2020) that applies – not the limit purchased when the work was done (ie 2017).

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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.