So that means that it's not just your reputation that is at stake.
Should you find yourself in a situation where your advice or potential errors result in a client taking legal action, Professional Indemnity (PI) insurance can provide protection for your business and brand assets.
Whilst PI is mandatory in some industries (e.g. - accounting, medicine, law, financial advisory), for others it offers a sensible precaution and a wise transfer of the risk to insurers.
BMS’s vast PI experience offers a great resource and means that we can help you understand the implications of any potential action against your business before advising on the best type of cover for your business.
Professional Indemnity insurance is not something that can be easily dismissed. BMS can provide a full personal assessment of your needs and support you with the best advice on those key areas of risk that you should consider.
*This is a summary only. You should refer to the policy wording or product disclosure statement for any policy you are considering purchasing to find out what is and isn’t covered by the policy.
“If you own a business, you can be liable for damages or injuries to another person or property… consider [professional indemnity insurance] for your business if the likelihood of legal action is high.”
Australian Government - Business.gov.au