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• Treasury Initiates Review of Professional Indemnity Insurance to Support CSLR

  The Australian Treasury has commenced a consultation process aimed at improving the effectiveness of professional indemnity (PI) insurance, with the goal of strengthening the Compensation Scheme of Last Resort (CSLR). This initiative seeks to gather stakeholder feedback on the current operation of PI insurance and explore opportunities for enhancement.

• Upcover Introduces Specialised Insurance Solutions for Australian Nurses

  Sydney-based insurtech company Upcover has unveiled a new professional indemnity and public liability insurance product tailored specifically for nurses across Australia. This initiative aims to provide comprehensive coverage that meets the unique needs of nursing professionals, including nurse practitioners, in-patient nurses, doulas, and nursing students.

• APRA's 2022 Data Shows Stable PI Claims and Premium Reduction

  The Australian Prudential Regulation Authority (APRA) has released its latest National Claims and Policies Database, providing valuable insights into the professional indemnity (PI) insurance sector for the 2022 underwriting year. The data indicates that PI claims payments for non-facility business remained relatively stable at $1.

• Sterling Insurance Enhances PI Offerings with Lloyd's Binder

  Sterling Insurance has successfully secured a new professional indemnity (PI) binding authority with Lloyd's, a move that promises to provide Australian brokers with greater control over product offerings and pricing structures.

• Treasury Initiates Consultation on Professional Indemnity Insurance Reforms

  The Australian Treasury has commenced a consultation process aimed at improving the effectiveness of professional indemnity (PI) insurance, with the goal of strengthening the Compensation Scheme of Last Resort (CSLR). This initiative seeks to gather stakeholder feedback on the current operation of PI insurance and explore opportunities for enhancement.

• Upcover Introduces Specialised Insurance Solutions for Australian Nurses

  Sydney-based insurtech company Upcover has unveiled a new professional indemnity and public liability insurance product tailored specifically for nurses across Australia. This initiative aims to provide comprehensive coverage that meets the unique needs of nursing professionals, including nurse practitioners, in-patient nurses, doulas, and nursing students.

• Treasury Initiates Consultation on Professional Indemnity Insurance Reforms

  The Australian Treasury has commenced a consultation process aimed at improving the effectiveness of professional indemnity (PI) insurance, with the goal of strengthening the Compensation Scheme of Last Resort (CSLR). This initiative seeks to gather stakeholder feedback on the current operation of PI insurance and explore opportunities for enhancement.

• Upcover Introduces Specialised Insurance Solutions for Australian Nurses

  Sydney-based insurtech company Upcover has unveiled a new professional indemnity and public liability insurance product tailored specifically for nurses across Australia. This initiative aims to provide comprehensive coverage that meets the unique needs of nursing professionals, including nurse practitioners, in-patient nurses, doulas, and nursing students.

• APRA Reports Stability in Professional Indemnity Claims with Decreasing Premiums

  The Australian Prudential Regulation Authority (APRA) has released its latest National Claims and Policies Database, providing valuable insights into the professional indemnity (PI) insurance sector for the 2022 underwriting year. The data indicates that PI claims payments for non-facility business remained relatively stable at $1.

• ABC Insurance Offers New Professional Indemnity Option for NSW Solicitors

  In a significant development for New South Wales' legal community, ABC Insurance has announced its entry into the professional indemnity (PI) insurance market, providing solicitors with an alternative to the longstanding sole provider, Lawcover.

• ProRisk Unveils Comprehensive Professional Indemnity Insurance via ProBind

  Professional Risk Underwriting Pty Ltd (ProRisk) has launched a new Professional Indemnity (PI) Insurance policy available through their ProBind platform.

• Professional Bodies Advocate for Insurer Recognition of Risk-Reducing Schemes

  The Professional Standards Councils are actively seeking to enhance insurer recognition of schemes designed to improve risk management among professionals. These schemes, established under state and territory legislation, aim to limit liability for members in exchange for adherence to stringent risk management practices, including mandatory professional indemnity (PI) insurance.

• Rising Professional Indemnity Insurance Costs Impact Australian Businesses

  The Australian Prudential Regulation Authority (APRA) has released its latest National Claims and Policies Database (NCPD) statistics, highlighting a significant increase in professional indemnity (PI) insurance premiums. Since 2015, these premiums have risen by 27%, posing financial challenges for businesses across the nation.

• Australia's Construction Boom Fuels Demand for Professional Indemnity Specialists

  Australia's construction industry is experiencing unprecedented growth, leading to a heightened demand for professional indemnity (PI) insurance specialists. This surge is driven by a combination of large-scale infrastructure projects, evolving contractual complexities, and new regulatory requirements.

• Evolving Trends in Professional Indemnity Insurance: Opportunities and Challenges

  The professional indemnity (PI) insurance market is undergoing notable shifts, presenting both opportunities and challenges for various sectors. Recent trends indicate a softening market, with premium reductions of approximately 5–10% available for low-risk profiles, particularly within financial services.

• Back Bay Professional Risks Debuts in Australia with Lloyd's-Backed Indemnity

  Market Lane Insurance Group has introduced Back Bay Professional Risks, a new underwriting division offering professional indemnity insurance tailored for consulting engineers and a range of professional service providers in Australia. This expansion addresses the growing demand for specialized insurance solutions in the professional services sector.

• BIA Introduces Integrated Indemnity and Liability Insurance Solution

  Berkley Insurance Australia (BIA) has announced the launch of a combined professional indemnity (PI) and public liability (PL) insurance product, set to be available from June 1 through the Steadfast Client Trading Platform (SCTP).

• Markel Unveils Tailored Professional Indemnity Insurance for Australian Market

  Markel, a US-based specialty insurer, has launched a suite of professional indemnity (PI) insurance products specifically designed for the Australian market. These offerings cater to professionals in accounting, construction, design and construct, insurance, media, and miscellaneous sectors.

• BIA's New Combined Indemnity and Liability Insurance Now Available

  Berkley Insurance Australia (BIA) has announced the launch of a combined professional indemnity (PI) and public liability (PL) insurance product, set to be available from June 1 through the Steadfast Client Trading Platform (SCTP).

• Sterling Insurance Enhances PI Offerings with Lloyd's Binder

  Sterling Insurance has successfully secured a new professional indemnity (PI) binding authority with Lloyd's, a move that promises to provide Australian brokers with greater control over product offerings and pricing structures.

• APRA's 2022 Data Shows Stable PI Claims and Premium Reduction

  The Australian Prudential Regulation Authority (APRA) has released its latest National Claims and Policies Database, providing valuable insights into the professional indemnity (PI) insurance sector for the 2022 underwriting year. The data indicates that PI claims payments for non-facility business remained relatively stable at $1.

• Markel's New Professional Indemnity Insurance Solutions for Australian Professionals

  In April 2024, Markel, a US-based specialty insurer, unveiled a suite of professional indemnity (PI) insurance products specifically designed for the Australian market. These offerings cater to professionals in accounting, construction, design and construct, insurance, media, and miscellaneous sectors.

• APRA's Regulatory Action on Pacific International Insurance's Binder Management

  In November 2024, the Australian Prudential Regulation Authority (APRA) directed Pacific International Insurance to increase its prudential capital requirement by $10 million. This action was taken in response to identified deficiencies in the insurer's oversight and control of its binder arrangements with intermediary partners.

• Australian Small Businesses Advocate for Insurance Premium Reforms

  In October 2025, the Australian Chamber of Commerce and Industry, in collaboration with the Insurance Council of Australia, released a report highlighting the significant challenges faced by small and medium-sized enterprises (SMEs) due to soaring insurance premiums.

• NSW Builders Required to Obtain Professional Indemnity Insurance by July 2026

  Starting 1 July 2026, all registered building practitioners in New South Wales (NSW) will be mandated to hold professional indemnity (PI) insurance, as stipulated by the Design and Building Practitioners Act 2021.

• Competitive Pressures Drive Down Construction Insurance Premiums in Australia

  The Australian construction insurance market has experienced a notable shift in 2025, with premiums decreasing across various lines due to heightened competition among insurers. This trend offers significant financial relief to builders and contractors navigating the complexities of the industry.

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• Professional Indemnity Insurance: Avoiding Costly Claim Mistakes

  Professional indemnity insurance is critical for professionals in various fields. It protects you from financial loss if you're accused of providing inadequate advice, services, or designs. This type of insurance covers legal costs and potential compensation claims, making it a safety net against errors or omissions in your professional duties.

• Key Policy Terms in Professional Indemnity Insurance Every Australian Professional Should Know

  Professional indemnity insurance is a crucial safeguard for professionals, protecting them against legal costs and claims for damages arising from mistakes or negligence in the services they provide.

• 'Exclusions' in Professional Indemnity Policies: What You Need to Know

  Exclusions in professional indemnity policies are specific conditions or circumstances that are not covered by the insurance. These exclusions are explicitly stated in the policy documents to clarify what is and isn’t protected.

• The Financial Impact of Neglecting to Update Your Insurance Policies

  Insurance is crucial for professionals across various fields, offering protection against unforeseen risks and liabilities. Keeping your insurance policies up-to-date is equally vital, ensuring you are adequately protected as your professional circumstances evolve.

• Professional Indemnity vs Public Liability: Which Insurance Do You Need?

  As a professional, safeguarding yourself and your business from potential risks is crucial. Insurance is an essential aspect of this protection, offering financial security and peace of mind.

• The Financial Security Provided by Professional Indemnity Insurance

  Professional indemnity insurance is a type of coverage designed to protect professionals against claims of negligence or breaches of duty made by their clients. It ensures that the financial costs associated with defending against legal actions and compensating for any damages are covered.

• Professional Indemnity Insurance: Vital Protection for Australian Professionals

  Professional indemnity insurance, often referred to as PII, is a type of insurance designed to protect professionals from legal claims arising from their advice or services. It covers the financial costs of defending against claims of negligence, errors, omissions, and other professional liabilities.

• Professional Indemnity Insurance: What Your Policy Really Covers

  Professional Indemnity Insurance (PII) is a type of insurance designed to protect professionals against claims of negligence or breach of duty made by their clients. It covers the costs and expenses incurred in defending against such claims, as well as any resulting damages or compensation that may be awarded.

• Unraveling the Confusion: Professional Indemnity Insurance Simplified

  Professional Indemnity Insurance is a critical safety net for professionals, offering protection against claims of negligence or breach of duty arising from the services they provide. It helps cover legal costs and any compensation that might be awarded if you are found to be at fault.

• Understanding Indemnity Insurance: A Comprehensive Guide for Australian Freelancers

  The landscape of work is changing in Australia, with more individuals embracing the flexibility and autonomy that freelancing offers. A significant surge in the freelance economy is a testament to this shift, as a myriad of professionals, from writers and designers to IT consultants, choose to offer their services independently.

• Avoiding the Pitfalls: Common Mistakes in Buying Small Business Insurance

  Embarking on the entrepreneurial journey of running a small business comes with not only the thrill of potential success but also the specter of various risks. One of the most effective shields against the unforeseeable is small business insurance—a critical tool that safeguards your enterprise's financial health.

• Protect Your Intellectual Property: The Role of Indemnity Insurance in Safeguarding Assets

  Intellectual Property (IP) stands as one of the core components of any modern business, particularly for startups where innovation is often the primary competitive edge. Understanding and protecting IP is not just about safeguarding ideas; it's a critical aspect of maintaining a business's unique market position and its long-term viability.

• Top 5 Reasons Why Your Start-up Needs Indemnity Insurance Now

  Starting a business is a thrilling venture, but it comes with its share of risks and uncertainties. One often underestimated aspect by many entrepreneurs is the need for adequate insurance, particularly, professional indemnity insurance.

• Indemnity vs. Liability Insurance: Understanding the Differences

  Insurance serves as a cornerstone in the foundation of a thriving business, mitigating various risks that can surface in the unpredictable world of commerce. At its heart, business insurance is about safeguarding the company's financial stability.

• Mitigating Risks: Why Indemnity Insurance is Essential for Your Business

  Indemnity insurance may sound like complex legalese, but at its core, it's a straightforward and crucial protection for businesses of all types and sizes.

• Expert Tips for Comparing and Buying the Right Professional Indemnity Insurance

  Professional indemnity insurance is an essential safeguard for practitioners and businesses that provide expert advice or services. This type of insurance helps to protect professionals against legal costs and claims for damages from an act, omission, or breach of professional duty in the course of their work.

• Cyber Liability and Indemnity: Mitigating Risk for IT Professionals

  In an era dominated by digital innovation, understanding the crossroads of cybersecurity and indemnity insurance is more critical than ever for IT professionals.

• Professional Indemnity Insurance: How Much Coverage Do You Really Need?

  Professional Indemnity Insurance (PII) remains one of the keystones of risk management for professionals across Australia. Yet, misconceptions and lack of awareness can lead to inadequate coverage, leaving individuals and businesses vulnerable in a litigious environment.

• The Essential Guide to Professional Indemnity Insurance for Australian Consultants

  If you're an Australian consultant, you understand that your advice is a valuable commodity. But with that value comes responsibility, and a level of risk that you could be held liable if your guidance results in financial loss to a client.

• The Growing Importance of Cyber Insurance in Protecting Professional Practices

  The professional services industry has undergone a significant transformation in recent years, largely due to the integration of digital technology into everyday business operations. From cloud computing to mobile applications, the digital landscape for professional practices has expanded, offering new avenues of efficiency and connectivity.