Professional Indemnity insurance provides essential financial protection for Insurance Brokers against potential losses arising out of acts, errors and omissions from professional services provided, including placement (or failure to place) cover and the provision of risk related advice.
Key Exposures
- Failure to effect (a) cover or (b) appropriate cover
- Deficiencies in insurance documentation processes and / or client-records
- Failure to adequately communicate coverage / coverage limitations with clients
- Fraud & dishonesty; fidelity
- Conflicts of interest; lack of objectivity / independence
- Confidentiality
- Authorised representatives
- Use of unauthorised markets
- Binding authorities; disclosure of intermediary status
Newline Australia provides a tailored Insurance Brokers Professional Indemnity insurance policy based on a broad civil liability wording.
Capacity
Up to AUD$25 million
Capacity Use
Primary Layer; Excess Layer; Co-insurance
Coverage
Worldwide (excluding United States of America)
