Professional Indemnity Insurance

Professional Indemnity Insurance
Professional Indemnity Insurance (PI Insurance) protects businesses and individuals who provide professional advice or services against claims of negligence, errors, omissions, or breaches of duty. It covers legal defence costs, settlements, and compensation if a client suffers financial loss due to your professional work.
Whether you’re an accountant, consultant, engineer, architect, medical practitioner, IT professional, or other service provider, PI Insurance offers critical protection for your reputation and financial security. It’s often a requirement under regulatory bodies, industry standards, or client contracts.
At Angelic Insurance, our authorised brokers help professionals across Australia compare PI Insurance from leading insurers. We provide general advice to help you find suitable cover for your risk exposure, contract requirements, and regulatory compliance.
How It Works
Our process is designed to help you understand your obligations and get protected quickly and accurately.
Share your profession and services
Tell us what services you offer, your client base, and revenue. We assess your professional risk and help identify suitable insurers.
We compare multiple policies
We review coverage terms, exclusions, defence costs, retroactive cover, and claim triggers from a panel of insurers.
Select your cover limit
You choose your cover amount, typically ranging from $1M to $10M, based on contracts, licensing requirements, and your professional exposure.
Tailor optional extensions
We help you add relevant extras, such as fidelity, run-off cover, or cyber extensions if your work involves sensitive client data.
Activate and issue documentation
Once the policy is selected, we finalise paperwork and issue a Certificate of Currency within 24–48 hours.
Renew and review as you grow
We help keep your PI Insurance aligned with your evolving practice, new service offerings, or expanded teams.
Why You Need It?
One error or misunderstanding in professional advice can lead to client disputes, legal action, and costly claims. PI Insurance helps protect your livelihood and professional credibility.
Covers legal defence costs
If a client accuses you of negligence or error, PI Insurance funds legal representation and court-related expenses.
Pays client compensation
If you’re found liable for professional mistakes, your insurer can pay settlements or damages awarded to the client.
Required by industry regulators
Many professions such as accountants, engineers, and allied health providers are required to hold PI Insurance by law.
Supports reputation management
The policy can cover public relations or disciplinary costs when defending your professional integrity.
Offers peace of mind
You can focus on delivering your service without constant concern over the financial risk of a dispute or mistake.
How Angelic Insurance Can Help?
We help professionals across sectors secure coverage that meets both their regulatory obligations and business goals.
Compare specialist PI policies
We assess policies specific to your profession and level of risk, ensuring relevant inclusions and claim response features.
Tailor to contracts and clients
We help ensure your policy meets client-mandated minimum limits and includes contractual coverage requirements.
Add extensions as needed
From cyber risk to run-off cover after business closure, we help structure the policy to address your long-term risks.
Fast support for urgent needs
Need proof of cover for a new client contract? We can issue a Certificate of Currency within 1–2 business days.
Claims guidance
If a complaint arises, we assist in lodging the claim and communicating with the insurer to seek the best outcome.
Challenges Businesses Face Without Professional Indemnity Insurance
A single claim can cost tens or hundreds of thousands. Without PI cover, you may be personally liable for legal defence and financial compensation.
Legal costs without protection
Even if the claim is unfounded, defending your actions can cost tens of thousands in solicitor and court fees.
Client claims for negligence
If a client suffers loss from incorrect advice or a mistake, they may sue for damages putting your personal assets at risk.
Breach of confidentiality
A data or privacy breach could trigger regulatory penalties or lawsuits without appropriate professional cover.
Regulatory penalties
Some professions face fines or loss of licence for operating without required indemnity insurance.
Difficulty securing clients
Many corporate and government clients won’t sign contracts without confirmation of PI Insurance with minimum limits.
Case Studies: How Professional Indemnity Insurance Helped Real Businesses
Case 1 – Engineer sued for design error
A Brisbane engineering firm was sued for structural flaws in a project. Their PI policy covered $180,000 in legal defence and client settlement costs.
Case 2 – Accountant faces audit dispute
An Adelaide accounting firm was accused of misreporting figures. The claim was resolved through mediation, with $62,000 in legal costs paid by their insurer.
Case 3 – Consultant’s advice leads to loss
A Sydney business consultant gave strategic advice that resulted in financial loss. Their insurer paid $45,000 in damages after negotiation.