Professional Indemnity Insurance

Many professions have Professional Indemnity (P.I.) Insurance in place to protect themselves in the event of (often expensive) litigation claims.

In some states it is mandatory for certain building professionals to carry P.I. cover and many other professions have voluntary or association based schemes also.

Professional Indemnity Scheme Expanded To Include Public Liability Insurance Option

With the continued growth of the Building Industry Solutions Building Designers and Draftspersons Scheme, a Public Liability Insurance Option is now available (in addition to the Professional Indemnity Cover) through B.I.S., also underwritten by CGU Insurance Ltd. (an IAG Company).

Public Liability provides cover for Third Party Injury or Property Damage that occurs both on your property or business premises in the course of your day to day activities, and also off site as a result of your actions or activities. Amounts of cover usually vary between $5,000,000 and $20,000,000.

While generally not compulsory, if you are undertaking projects for the government or one of the larger corporations, it may be a condition of your contract or tender. Also many lending institutions will require cover if they have financed the purchase of your home / office or business premises.

This Public Liability insurance option is available to B.I.S. Scheme Members, and is extremely price competitive due to the low risk nature of the profession.

For more information contact Diane Iles or Laura Gaiardo at B.I.S. on 1800 244 224 during business hours.

About Building Industry Solutions:

• We are an authorised agent for CGU Professional Risks Insurance (a division of CGU Insurance Ltd, an IAG Company) for Professional Indemnity Cover.
• We are the endorsed provider of Professional Indemnity Insurance for the Building Designers Association of Western Australia, under a specialist Scheme.
• We currently insure over half of all registered Building Designers and draftspersons in Victoria and in addition can provide cover for Engineers, Architects, Town Planners, Building Surveyors and Inspectors, Accredited Energy Raters, Land Surveyors and Conveyancers.
• The managing director of the company has over 27 years experience in the Building and Insurance industries, and is 'hands on' in the daily running of the business. We understand our clients activities.
• When you ring B.I.S, you will get to talk to a real person - no answering machines or time-consuming phone queues.
• If you e-mail us we will reply promptly.
• Quotations are provided within 24 hours in most cases and 72 hours if a referral to the underwriter is required.
• We can provide Premium Funding options for policies over $700 in cost, to decrease the possible adverse impact on your cash flow.
• Our premiums are extremely competitive for most practitioners, and we don't charge 'Administration' fees for practitioners with fee incomes over $30,000.

How do I find out more?

You can give Di or Laura a call for further advice or information, or drop us an e-mail.

Forms:

Public Liability is only available for B.I.S Scheme Members with a current P.I. Policy.

Building Industry Solutions act as an authorised agent for CGU Professional Risks Insurance (a division of CGU Insurance Ltd an IAG Company) and not as agents for the insured.