Compare Aon professional indemnity insurance
For many professionals, providing advice or services to customers is simply a part of their everyday working life. In fact, customers rely on your expert knowledge and skills to get the job done. However, this type of work leaves you open to claims of negligence, malpractice and professional misconduct.
Even if you believe it’s unlikely that a claim will be brought against you — all it takes is one mistake and one disgruntled client to land you in hot water. Unfortunately, defending yourself against these types of claims can be time consuming and, more importantly, very expensive.
This is where a professional indemnity insurance policy comes to the fore. This type of insurance is designed to provide cover against any claims that you have breached in your professional duty. Most policies will cover the legal and court costs involved in your defence, as well as the compensation or damages you may be required to pay to your former customer.
Having professional indemnity insurance cover in place ensures that you have the financial protection you need, giving you the peace of mind and security you need to be able to simply focus on running your business.
Who is Aon?
Aon is the result of a 1982 merger between Ryan Insurance Group and Combined International Corporation. Having acquired a number of respected insurance and consulting companies in the ensuing years, Aon is now a global provider of insurance, risk management and human resources solutions. Boasting 66,000 employees across more than 120 countries, Aon is now the largest global insurance broker in the world.
As part of its extensive range of products and services, Aon offers a range of competitive business insurance solutions to suit a wide variety of companies. With a particular focus on small business, Aon insures thousands of businesses all across Australia.
Aon’s policies can be tailored to suit the needs of individual businesses, offering flexibility and convenience. The company’s policies have been approved and endorsed by key industry bodies and associations within Australia and they are backed up by Aon’s strong global financial position.
Aon offers professional indemnity insurance, public liability insurance and product liability insurance.Back to top
Aon professional indemnity benefits and features
Aon’s professional indemnity insurance offers financial security and peace of mind to customers. Designed for professionals for offer advice or services to their clients, this policy provides cover against claims of negligence made against you.
If, during the course of your work, you perform an act, omission or breach of your professional party that results in your client suffering a financial loss or an injury, they may decide to lodge a claim of malpractice or professional misconduct against you. Aon professional indemnity insurance provides cover for the cost of your legal defence, as well as cover for any damages you may have to pay.
A professional indemnity policy from Aon also typically includes cover for other essential features, including public liability insurance and product liability insurance. Instead of providing an off the shelf policy that is designed to be ‘one size fits all’, Aon offers policies tailored to the insurance needs of a number of professions. These include:
- massage therapists
- music teachers
- event organisers
- real estate agents
- media professionals
- design professionals
Making a Professional Indemnity Insurance Claim with Aon
If you’re an Aon professional indemnity insurance policyholder, all claims or incidents that may lead to a claim should be reported to Aon as soon as possible.
Whenever you receive a customer complaint or become aware of anything that could lead to a claim being made against you, notify Aon as soon as possible. You’ll need to provide evidence of when a complaint was made or when you first became aware of circumstances that could lead to a claim.
You will need to give Aon a copy of the written demand or, if the demand was verbal, the date of the demand, the name of the person who made the demand and what was said. You will also need to provide the amount claimed, the name and address of the person making the claim, as well as the contact details for their solicitor.
Aon will also require details of the work you performed for the client, including a copy of the contract if possible. Once this task has been completed, Aon may ask you to submit further information or supporting evidence.
Then a dedicated claims team will take over to handle the prompt processing of your claim. It’s also a good idea to remember that professional indemnity insurance is offered on a claims made basis, so your policy will also provide cover if you receive a claim for work you have completed in the past, even if the work was finished well before you took out your current policy.Back to top
Why Choose Aon as Your Professional Indemnity Insurance Partner?
There are many reasons why customers should consider choosing Aon for their professional indemnity insurance needs. Aon is the largest global insurance broker in the world, offering solutions to the insurance needs of a wide range of customers. This gives you the security of knowing your insurance is backed by a company with real global strength.
In Australia, Aon boasts almost 1,600 employees and an impressive history of offering quality business insurance coverage. Professional indemnity insurance is looked after by Aon Risk Solutions’ Professional Services practice, which has more than 75 years’ of experience offering insurance coverage to professional service firms. Aon gives you access to a wealth of specialised knowledge in this unique insurance sector, all of which works to benefit your company.
Another strength of Aon is that policies are tailor-made to suit your needs. Whether you’re a lawyer, a real estate agent or an accountant, Aon can offer a professional indemnity insurance policy that will suit the specific risks of your profession.
Taking all of these factors into account, Aon is well worth considering when it comes to sorting out your professional indemnity insurance requirements.Back to top
Other Business Insurance Policies Being Offered by Aon
Aon offers a number of cover options that have been specifically designed to meet the needs of small businesses. These include public liability cover, fire and defined events cover, burglar cover, business interruption insurance, protection against the theft of money and protection for business glass. These products are designed for businesses with a turnover of less than $10 million.
Management Liability Insurance
Managing a company exposes you to the risk of finding yourself the subject of a lawsuit, which is where management liability cover comes in. It offers protection against allegations of occupational health and safety breaches, employee discrimination, financial mismanagement, illegal conduct, and breaches of directors’ and officer’s duties. This policy offers cover for a host of essential features.
Public Liability Insurance
This insurance is designed for businesses who interact with their clients or members of the general public. If a third party suffers an injury or property damage as a result of your activities, they may choose to sue you for damage. A public liability insurance policy provides protection against such claims, covering your legal costs and any compensation you are required to pay.
Product Liability Insurance
Similar to public liability cover, this policy offers protection when a third party accuses you of causing them to suffer a personal injury or property damage. However, this form of cover is designed for businesses that sell products to their customers. It will ensure that you don’t have to pay any legal or court costs.
Aon also offers insurance solutions to suit the needs of a wide range of consumers. Products offered include home and contents cover, car insurance, landlords insurance, boat insurance, caravan insurance and travel insurance.
If you’re looking at taking out professional indemnity insurance cover, consider the insurance solutions offered by Aon. As a global insurer, Aon offers competitive professional indemnity cover to suit those who work in an extensive variety of professions.Back to top