Professional indemnity insurance provides you and your business with protection against claims for financial loss, bodily/personal injury or property damage arising from an act, error or omission in the performance of professional services.

Any financial loss arising from a mistake or failure by surveyors and spatial industry professionals may result in a judgment in favour of your client/s.

A professional may also be held liable for a mistake even though there was no negligence but infringement of other laws. For example, creates an exposure for false and misleading conduct in the promotion of your services.

Reasons for surveyors and spatial professionals being sued by third parties for causing a financial loss as a result of their business activities may include:

Errors in the provision of designs and drawings Incorrect or misleading advice or technical information Errors in any survey activity ACSIS Ltd Professional Indemnity policy is designed to protect your personal assets against damages awarded by a court, or from a negotiated settlement, in relation to an act, error or omission committed by the professional during the conduct of professional duties. It generally covers the costs and expenses of defending claims.

The ACSIS Ltd facilitated PI policy has a broad range of conditions available.

If you’re in any kind of profession that gives advice or provides a service, for example: consulting engineers, surveying and multi-disciplinary firms, professional indemnity is a necessity. Your business is your livelihood, so protecting it is paramount.

On occasion it’s possible in your profession to unintentionally breach privacy or confidentiality, omit information, make an error of judgement or provide the wrong advice. A simple act, error or omission can lead to a claim against your business, therefore making it vital to protect yourself, your business, and reputation.

Professional Indemnity Insurance protects you from bearing the full cost of these claims and disputes, and from the time and resources they consume.

The threat of claims and litigation is very real and can potentially bankrupt businesses, small or large. It may seem like a distant possibility, but legal action often arises from an unforeseen event to completely disrupt businesses.

ACSIS Ltd Professional indemnity insurance covers your business for:

Civil liabilities including (but not limited to) breach of duty, defamation, loss of or damage to documents, infringement of intellectual property and more
Bodily injury and property damage claims arising from the professional services covered by the policy
Claims investigation costs (i.e. costs of investigating, defending and settling claims
This is a summary only, the full details of what is and is not covered, please read the Policy Wording (Product Disclosure Statement) provided following issuance of a quote.

Things professional indemnity insurance doesn’t cover you for include:

Claims and circumstances known before the period of insurance
Intentional damage
Insolvency of the insured
Contractual liability
Terrorism
This is a summary only, the full details of what is and is not covered, please read the Policy Wording (Product Disclosure Statement) provided following issuance of a quote.

Every business is different, and there is no ‘one size fits all’ rule for how much professional indemnity insurance your business needs.

Sometimes the amount of professional indemnity insurance you need will be dictated by the contracts you work on – for example, some clients will require you to hold a minimum amount of professional indemnity insurance to work for them.

Professional indemnity claims can be very costly, so it is important that you choose a level of cover that will financially protect you and your business should you need to make a claim.

ACSIS Ltd Professional indemnity insurance policy offers five levels of professional indemnity cover which can be purchased from us directly:

$1 million $2 million $5 million $10 million $20 million (upon request)

Both public liability and professional indemnity insurance are designed to protect your business against claims resulting from accidents or injuries that occur as result of your business activities, as well as accidental damage to property owned or controlled by someone else.

They key difference is that public liability insurance doesn’t cover losses arising from you providing professional services or advice to clients.

Professional indemnity insurance specifically protects you and your business from claims of financial loss arising from an act, error or omission in the performance of advice or services you are providing in a professional capacity.

If a client disputes the services or advice you have provided them in a professional capacity, professional indemnity insurance will cover the cost of defending their claim in court, along with paying compensation or damages up to the limit you have selected.