Why should you choose Marsh to arrange your insurance solutions?
There are a number of different factors that may influence the cost of professional indemnity insurance, such as the service provided, company size and revenue.
Make sure when requesting a quote, that the declared values of the business is accurate so the correct premium and cover for your business can be arranged.
Professional indemnity insurance covers up to $10 million.
Public liability insurance covers up to $20 million.
‘Claims made’ is a term used to describe an insurance policy that covers claims which are notified during the policy term. This may not necessarily be the same period in which the accused incident or error resulting in the claim occurred.
Professional indemnity policies provide a 'claims made' basis of cover because advice or service errors in many professions are often discovered weeks, months or even years after the mistake was made.
Therefore, a professional indemnity policy or 'run-off' policy must be in place for a claim to be met by an insurer.
It’s also important to note that, if the limit of indemnity was changed, it is the limit purchased when the claim is notified that applies, not the limit purchased when the work was completed.
Our team can provide support and proactively guide clients through the claims incident process.
Contact your Marsh representative to assist with lodging a claim.
Even if you deliver on all of your scope of a project, management consultants can sometimes be sued by clients if a business fails to achieve an overall objective.
Your legal liability does not always end when your contract ends. Strategy and initiatives can sometimes derail, regardless of the quality of your work and the effort you put into a project.
You might even reconsider your commitment to a client mid project, and decide to terminate for legal and ethical reasons.
Whether a claim made against you is reasonable, or not, the cost of legal fees alone can be expensive.
In marketing, strategy is key. Consider a strategic approach to your insurance – let the industry experts arrange yours.
Data breaches, network failures, cyberattacks. Help shield your business from the risks of IT consultancy – from costly legal fees.
Your clients know the value of your time. Why not free up some more? Let us arrange suitable insurance for you.
Injury and property damage are just two prominent construction risks. Let us arrange insurance for those most relevant to you.
Whether by freight, rail, road or air, transport comes with unique risks. Let us arrange comprehensive cover tailored to your needs.
You’re an expert in your field. We’re experts in ours. Let Marsh arrange professional services cover tailored to you.
LPCA 23/099
Marsh Advantage Insurance Pty Ltd (ABN 31 081 358 303, AFSL 238369) (“Marsh”) arranges the general insurance (i.e. not the Discretionary Trust Arrangement) and is not the insurer. This page contains general information and does not take into account your individual objectives, financial situation or needs. For full details of the terms, conditions and limitations of the covers, refer to the specific policy wordings and/or Product Disclosure Statements available from Marsh on request. Marsh makes no representation or warranty concerning the application of policy wordings or the financial condition or solvency of insurers or re-insurers. Marsh makes no assurances regarding the availability, cost, or terms of insurance coverage. Any statements concerning actuarial, tax, accounting, or legal matters are based solely on our experience as insurance brokers and risk consultants and are not to be relied upon as actuarial, accounting, tax, or legal advice, for which you should consult your own professional advisors. The Discretionary Trust Arrangement is issued by the Trustee, JLT Group Services Pty Ltd (ABN 26 004 485 214, AFSL 417964) (“JGS”). Any advice or dealing in relation to the Discretionary Trust Arrangement is provided by JLT Risk Solutions Pty Ltd (ABN 69 009 098 864, AFSL 226 827) (“JLT”). JGS and JLT are businesses of Marsh McLennan. The cover provided by the Discretionary Trust Arrangement is subject to the Trustee’s discretion and/or the relevant policy terms, conditions and exclusions.
