Migration agent insurance

Professional indemnity insurance is among the most highly recommended covers for any business – particularly if it offers advice or recommendations as part of its services.

This policy covers claims made by clients if your advice or guidance causes them or another third-party financial loss.

A typical professional indemnity policy can cover allegations relating to:

• Breach of duty

• Breach of privacy or confidentiality

• Intellectual property infringement 

• Defamation

• Lost or damaged documents

• Reputation repair

• Claims investigation costs

• Negligence.

Professional indemnity insurance cannot cover:

• Existing circumstances

• Intentional damage

• Contractual obligations

• Bankruptcy.

Professional indemnity insurance can cover your business for up to $10 million.

Claims can arise from a myriad of scenarios in the field of migration law. But, generally speaking, some of the most common catalysts are:

• Incorrect advice

• Visa application errors

• Lodgement of documentation errors

• Misleading information

• Cybersecurity breaches

• Breach of duty.

Some risks are more prevalent for individual businesses. Whatever your risk profile, our brokers will tailor your policy to you.

Yes. Professional indemnity insurance and errors and omissions insurance are interchangeable terms referring to the same cover.

‘Claims made’ is a term used to describe an insurance policy that covers claims notified during the policy term. This may not be the same period in which the incident or error that led to 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.

If the limit of indemnity has changed, it is the limit purchased when the claim is notified that applies – not the limit purchased when the work was completed.