Fergusons Insurance Brokers

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39B Davey St Frankston, Victoria
Phone: (613) 9783-3200

I have used Fergusons as my insured brokers for over 30 years to arrange my business, home and motor insurances.  During that time they have advised on the appropriate level of cover, have placed the cover with the right insurance company and provided assistance with claims.  They have provided me with a complete service for my insurance needs.

- John D Crump
  Solicitor & Conveyancer

   Emergency After Hours

   0409 411 235

Professional Indemnity (Errors & Omissions)

A professional indemnity policy provides you and your business with protection against claims for financial loss, arising from an act, error or omission in the performance of professional services.

If you are in a business/profession that gives advice or provides a fee for service, professional indemnity insurance is a necessity. Your business is your livelihood, so protecting it is paramount.

If an error or omission occurs in the course of your professional duties and causes financial loss to a third party, then the third party can claim against you resulting in costs, damaged reputation and disruption to the business. This threat of claims and litigation can potentially bankrupt businesses.

Common claims brought against you may include:  Negligence, error or omission, breach of confidentiality, infringement of intellectual property rights and loss of documents.

Professional Indemnity policies can be tailored to suit your business needs and can include various extensions of cover. i.e. Breaches of Trade Practices Act and other legislation, dishonesty of employees, defamation libel and slander, run off cover, fidelity and many more.

Professional Indemnity policies operate on a “claims made” policy basis. A claims made policy will only respond to claims that are made  and reported to insurers in the current policy period (subject to the policy retroactive date).

Professional Indemnity Insurance is recommended for anyone who provides advice as part of their business or profession as anyone can make a mistake no matter how experienced they are or how much expertise they have.