About professional indemnity for contractors and consultants

Professional indemnity (PI) insurance is essential for anyone who provides advice or consultancy services to their clients. It is designed to protect your business from claims arising from acts, errors of omissions occurring in the course of your business. 

For those involved in the construction industry, the broader cover offered by Design & Construct PI might also be appropriate if you are involved in construction activities as well. 

PI cover of some description is recommended even if the design aspects of your contract are sub-contracted out, even if the sub-contractor has its own PI insurance.  Indeed, from a practical point of view, you may be required to obtain appropriate PI insurance through contractual terms imposed by principals or head contractors.

PI insurance offers protection to a range of consultants and sub-contractors whether they are involved in small or large projects. It varies from policy to policy but, generally speaking, will protects businesses from risks like:

  • Damages – Liability for damages suffered by a third party as a result of negligent advice or services provided by a consultant or sub-contractor
  • Costs – Legal expenses in defending a claim brought against you
  • Documents – Costs of restoring loss or damage to documents
  • Inquiries – Costs of attending Inquiries
  • Fraud & Dishonesty – Liability of your business to any third party resulting from the fraud or dishonesty of your employees
  • Court attendance costs – Daily amounts to attend court

Case study

Construction as an industry is the third largest employer in Australia, which is going to be incredibly important as we fight the loss of jobs and damage to our economy caused by the global pandemic. It is also one of the most heavily regulated and riskiest industries to work for, making the right construction insurance critical. We’re pleased to be able to share this recent case study of working with construction client, VO Group Australia.


construction insurance case study

Have questions about professional indemnity insurance? We’re here to help.

So whether you’re a sole-operator who wants to protect your income, or a large outfit looking to protect your business and your employees, getting the right cover is critical in making sure you meet your obligations and protect your business financially. We partner with industry specialists to assess your risks and tailor a solution to meet your needs. Talk to an Acacia Insurance adviser about your situation.

Contact us to discuss your situation or for a free, no obligation quotation.

Please note that this should be regarded as general advice only, and we would strongly encourage you to call us to discuss your specific situation before making any decisions about your insurance solution or risk management programme.

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