Professional Indemnity insurance provides essential financial protection for Valuers against potential losses arising out of acts, errors and omissions from professional services provided including undertaking valuations for a wide variety of purposes and valuation-related services.
Key Exposures
- Unfavourable economic conditions, including claims
- Unclear instrucitons / communications
- Poor Investigation / analysis of subject property
- Inappropriate valuation methodology / calculation
- Conflicts of interest – disclosed or otherwise
- Breach of contract retainer
- Failure to adequately inspect / investigate property
- Failure to make adequate enquiries about property
- Undertaking higher risk valuations
Newline Australia provides a tailored Valuers Professional Indemnity insurance policy based on a broad civil liability wording.
Capacity
Up to AUD$25 million
Capacity Use
- Primary Layer (non-mortgage valuers)
- Excess Layer
Coverage
Worldwide (typically excluding North America)
