Liability policies generally exclude claims arising for breach of professional duty, particularly where there is a fee paid for such advice or service.
It is therefore important that Professional Indemnity insurance is considered where you are seen to be acting in a professional capacity and providing advice or service.
Guardians insurance specialists can arrange cover to ensure your business activities are adequately insured and that cover is in place where you are found liable for a financial loss suffered by a third party arising from your advice or service. The policy also covers the costs and expenses involved in defending a claim of this nature.
Under the Australian Trade Practices Act, a professional may be held to be liable for a mistake, even if the act was not negligent.
Tailored policies are now available for specific industry sectors ensuring that the exposures specific to your industry are covered.