Protecting Your Business: Demystifying Professional Indemnity Insurance in Sydney
If you are a business owner or a professional who provides advice/services to your clients, you may have heard of professional indemnity insurance in Sydney. But do you know what exactly is this insurance and why you might need it? In this blog post, we will demystify the concept of professional indemnity insurance in Sydney and explain how it can protect your business from potential claims and lawsuits. What is professional indemnity insurance? In simple words, professional indemnity insurance - also known as professional liability insurance or errors and omissions cover - is a type of insurance that protects business owners, freelancers and the self-employed against claims of negligence or breach of duty made by their clients arising from the services or advice they provided to them. For example, imagine you a re an accountant offering valuable tax advice to your clients. Now, if one of your clients ends up facing financial setbacks or gets audit...