FAQ
Frequently Asked Questions. |
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There are 10 entries in the FAQ.
Pages: 1
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| What is Professional Indemnity Insurance? |
 | Professional Indemnity Insurance will protect the professional from the damages payments and legal costs following an alleged act, error or omission committed by the professional during the conduct of their professional business activities. It also covers the costs and expenses of defending claims. |
| Who needs Professional Indemnity Insurance? |
| All professions who advise, design or consult are exposed to allegations of negligence and therefore should have Professional Indemnity Insurance. |
| How do I obtain a quotation? |
| In order to obtain a quotation you’ll need to complete and supply a proposal form to our office. We will normally provide a quotation within 48 hours. |
| How does Professional Indemnity Insurance differ from other types of Insurance? |
| Professional Indemnity insurance is written on a “claims made” basis meaning that the professional must have a policy in place when they first become aware that a claim will be made against them (subject to the retroactive liability date of the policy). |
| What is a retroactive date and how does it operate? |
| Retroactive date is the date after which acts, errors or omissions of the insured are covered. That is, only acts, errors or omissions arising from work performed by the insured after the retroactive liability date will be covered. |
| What does APR Insurance Brokers do? |
| APR Insurance Brokers is a specialist professional Risks Insurance broker and through our facilities and relationships we are able to negotiate competitive premium and supply quotation quickly and efficiently. |
| Which Insurers does APR Insurance Brokers place business with? |
| APR can place business with Lloyd's of London, CGU and QBE. In addition we place business with Chubb, Vero, APUA, Tasman and Liberty. |
| What does Professional Indemnity Insurance cover? |
| Professional Indemnity Insurance covers damages awards and legal costs needed to defend a claim of negligence made against the insured. |
| Is APR Insurance Brokers Australian owned? |
| Yes, we are proudly Australian owned and operated. We can supply local and international insurers to Australian professionals in a quick, efficient and professional manner. |
| What is APR Insurance Brokers Australian Financial Services Licence Number? |
| Our Australian Financial Licence number is 295250. Our ABN is 22 115 759 405. |
FAQ
What is Professional Indemnity Insurance?
