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Professional Indemnity Insurance
When you provide advice or professional services, your clients rely on you to get it right and you take that responsibility seriously. Professional Indemnity (PI) insurance helps protect the business you’ve built, giving you confidence to do your work without second-guessing every decision. It’s about backing yourself, protecting your income, and knowing you can keep moving forward even if a client dispute or claim arises.
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Insurance
Why consider Professional Indemnity insurance?
If you provide advice, design, or professional services, your clients rely on you to get it right. Even when you act carefully and professionally, misunderstandings, mistakes, or unexpected issues can lead to claims and defending those claims can be expensive.
Professional Indemnity insurance helps protect your business if a client alleges that your advice, services, or work caused them financial loss. It can cover legal defence costs, claims of negligence or breach of duty, and situations involving incorrect or misleading advice.
Many professional service businesses also need Public Liability insurance, which protects you if someone is injured or their property is damaged as a result of your business activities.
Having the right cover in place means you can focus on doing your job well, knowing your business, reputation, and income are protected if something goes wrong.
Types of Business Insurance
Extra cover to consider
Depending on how your business operates, you may need additional protection beyond standard policies. We can help you identify optional extensions and specialist cover that strengthen your protection and reduce potential gaps.
Business Insurance
Even if your main risk is the advice you provide, your physical assets still matter. Business insurance can protect your office contents, equipment, and income if you experience damage, theft, or an unexpected interruption. It brings together key covers like property, public liability, and business interruption into one practical policy — helping keep your business running if something disrupts operations.
Management Liability
If you run a professional services business, you carry responsibilities beyond client work. Management liability insurance helps protect you and your directors against claims relating to employment disputes, regulatory investigations, statutory breaches, and alleged mismanagement. It’s designed to safeguard your leadership team and business decisions — not just your professional advice.
Cyber Insurance
Professional service businesses often hold sensitive client information, financial data, and confidential records. Cyber insurance helps protect your business if you experience a data breach, ransomware attack, system outage, or cyber extortion event. It can cover response costs, legal expenses, client notification, and business interruption — helping you recover quickly and protect your reputation.
Faq
Answers to common professional indemnity insurance questions
Here are some of the most common questions New Zealand business owners ask when arranging cover. Not sure where to start? Contact us today.
Professional indemnity (PI) insurance helps protect your business if a client claims they’ve suffered financial loss due to your advice, services, or professional negligence. It can cover legal defence costs, settlements, and damages arising from errors, omissions, or breach of professional duty.
For some professions, yes. Certain regulators and professional bodies (such as lawyers, financial advisers, and some consultants) require minimum levels of PI cover. Even where it’s not legally required, many contracts and clients will insist on it before engaging your services.
The level of cover depends on your industry, contract requirements, and the size of projects you handle. Many NZ businesses carry limits ranging from $1 million to $5 million or more, depending on their exposure and client expectations.
Most PI policies in NZ operate on a “claims-made” basis. This means the policy must be active when the claim is made, not when the work was done. You may also need retroactive cover to protect work completed before your current policy started.
Public liability covers injury or property damage to others caused by your business activities, while professional indemnity covers claims relating to advice, design, or professional services. Many NZ businesses need one or both depending on the work they do.