Professional Risks

Professional Indemnity

Professional Indemnity Insurance provides cover for damages and legal defence costs in the event of an allegation of wrongful services caused in the conduct of the business. Nowadays, the cover is applicable to virtually any business which provides services and/or advice. Whether ultimately liable or not, Professional Indemnity cover is critical to assist meet costly legal defence costs. 

Professional Indemnity Insurance cover can include:

  • Civil liability resulting from the conduct of professional services, such as liability under the Trade Practices Act, libel and slander, and infringement of intellectual property rights
  • Legal defence costs in addition to or inclusive of the limit of indemnity
  • Loss of documents – for costs to replace or restore lost or damaged documents
  • Inquiry costs – legal costs for attendance at inquiries
  • Liability for employee dishonesty
  • Compensation for court attendance
  • Cover for the hiring of public relations consultants to restore reputation
  • Indemnity for contractors who work directly under the Insured
  • Extended reporting period for claims
  • Indemnity for claims made in respect of a former subsidiary

For advice on Professional Indemnity Insurance, contact us today.

Directors' and Officers' Liability

Company Directors and Officers are personally liable for their actions as officers of their company. They can be held liable for claims for compensation, fines and penalties as well as significant legal defence costs, even if they are ultimately found not responsible.

Suitable for Public Companies and large Private organisations, Directors’ and Officers’ Liability Insurance protects Directors and Officers as well as Senior Managerial staff against third party claims arising from their actions and decisions in their official capacities. This includes damages awarded in civil courts and potential defence costs should they face criminal or regulatory charges.

D&O Insurance covers the decisions made by people managing an organisation. Personnel covered include past, present and future:

  • Directors and Officers
  • Employees acting in a Management or Supervisory role
  • Outside Directorships

Some examples of the types of claims that can arise under Directors’ and Officers’ Liability include:

  • Breaches of Director's duties and/or fiduciary duties, including breach of trust
  • False, misleading and deceptive conduct by Directors/Officers and employees
  • Breach of Statutory duty
  • Workplace Health and Safety prosecutions and inquiries
  • Minority Shareholder Proceedings
  • Tax Audit requested by the ATO
  • Investigation costs
  • Personal reputation protection expenses
  • Extended reporting period
  • Fines and penalty cover

For professional advice contact us today.

Employment Practices Liability

Employers have responsibilities for the proper conduct of employment related matters both for existing employees and applicants.  These responsibilities can leave the employer with significant defence and damages costs if they fail to exercise their responsibilities appropriately.

Employment Practices Liability Insurance minimises the risk of these potential costs in the event an employee takes action against the employer. These actions can relate to:

  • Unfair Dismissal
  • Unfair Redundancy
  • Alleged Discrimination
  • Sexual or Workplace Harassment
  • Disparagement by an employee

To find out how we can assist in protecting your business, contact us today.

Management Liability

Suitable for smaller businesses, Management Liability provides Directors’ and Officers’ Liability cover and in addition, some additional coverages including:

  • Employment Practices Liability - allegations of wrongful dismissal, employee harassment
  • Crime - Loss due to theft by employees or by persons outside the organisation
  • Statutory Liability - Fines and penalties for breaches of Statutes
  • Superannuation Trustees’ Liability

The policy covers Directors, Officers and also the company itself for risks relating to the management of the business.  Claims can arise from many parties including:

  • Shareholders – allegations of mismanagement
  • Employees – wrongful dismissal, discrimination, OH&S, sexual harassment
  • Creditors – trading while insolvent
  • Customers – misleading and deceptive conduct
  • Consumers – breaches of Consumer Protection legislation
  • Government and Regulatory Bodies – breaches of legislations

PSC can arrange comprehensive cover to protect you and your business.  Contact us today.

Cyber Liability

Cyber risks now affect large and small companies worldwide. Because of extensive personal and sensitive information now stored, most companies are vulnerable.  Businesses are exposed daily to threats of information technology hacking, cyber extortion, privacy breaches, identity theft, and resultant business interruption and reputational damage.  These events can leave a lasting impact and threaten the future viability of a business.

Cyber Insurance typically includes technology professional services, multimedia liability, security and privacy liability, customer support and reputations expenses, data recover and business interruption, privacy regulatory defence and penalties, cyber extortion.

Make sure your company is prepared – to find out more and learn how we can assist you limit your cyber exposure, download our Cyber Bulletin, or contact us today.


Globalisation, mergers, acquisitions, restructuring, downsizing, expanding and the development of technology have resulted in businesses being more exposed to the risks of commercial and industrial crime. These risks can come from employees, theft from outside the organisation, or a combination working in concert.  Such crime can include:

  • Employee theft – excess wage payments, payroll fraud, sales on the side, stock theft, accounting manipulation
  • Robbery, Burglary
  • Computer Fraud
  • Credit Card Fraud
  • Forgery
  • Extortion
  • Embezzlement
  • Counterfeit Currency Fraud

Our skilled professionals can formulate policy wordings specifically designed to meet the needs of your business. Our wordings provide numerous cover enhancements over and above standard Crime policies.

For detailed information on Crime Insurance, or to arrange cover specifically for your business, contact us today.