Corporate Insurances- Blog

PROFESSIONAL INDEMNITY INSURANCE

Professional indemnity insurance is designed for professionals who provide advice or services to their customers. It protects your business against legal costs and claims by third parties for damages arising from acts, omissions or breaches of professional duty in the course of your business.

In real terms, this means that if you do something (or neglect to do something) in the course of your work, and a customer suffers financial loss as a result, they may take legal action against you. With the right policy, you can defend your business against the claim and prevent financial loss.

MANAGEMENT LIABILITY INSURANCE

This insurance is becoming more the norm for businesses of all sizes particularly in todays litigious business environment. Instead of separate insurance, Management Liability provides a variety of liability insurances to protect you and your business.

Among insurances available under this are;

  • Directors and Officers Insurance
  • Employment Practices
  • Fidelity (theft by employees)
  • Statutory Liability ( for fines and penalties arising from breaches of law)
  • Occupational Health and Safety Defence Costs
  • Internet Liability (defamation arising from website contents)
  • Public Relation/Advertising costs and Crisis Costs

Claims can come from various parties and this insurance together with a comprehensive Public Liability and Professional Indemnity program can give certainty to your business.

CORPORATE TRAVEL

Do you or your employees travel regularly?
Corporate travel insurance can cover all the travel both overseas and in Australia for you and your employees. It is taken annually so this avoids the need to take a separate policy each time you travel. It also includes cover for leisure travel when taken in conjunction with business travel. It also includes cover for hire car excess which you normally pay extra to remove.

EMPLOYMENT PRACTICES LIABILITY

We regularly hear of staff taking action for unfair dismissal, sexual harassment and other employment related matters.

Employment Practices insurance is designed to cover the costs and legal expenses in relation to staff taking action against employers in relation to their employment.

DEBTOR INSURANCE

Are you relying on one or only a few customers to pay you?
What if a major customer goes into receivership?
Trade Credit Insurance covers the outstanding debts in the event of one of your customers going into receivership and they are unable to pay you.

For no-obligation information and quotes please contact