Are you paying too much for your insurance? Don't know all of the risks? We can help.

Wealth management, financial advice, and managing assets for clients all require in-depth knowledge, training and experience.

There is also a great responsibility that comes with providing these services for your clients. Even the most experienced financial planners can sometimes make an error of judgement, and the consequences can be dire, both for you and for your clients.

In the case that an error does occur, it is crucial that you protect yourself, your organisation and the people that work for you against any potential claims of negligence. It is also an ASIC requirement that you take out a professional indemnity policy.

What makes our Professional Indemnity policy different?

  • Our policy complies fully, and in many respects exceeds the Minimum Requirements set out in RG126.
  • It provides cover for Tax (Financial) Advice Services provided or supervised by registered financial planners.
  • No Approved Product List exclusion
  • No High Risk Investment exclusion  – limited exclusion of some product types limited to past substantial product loss or failure.
  • Automatic cover for New Authorised Representatives (subject to certain conditions)
  • Official investigations and disciplinary hearings cover with an early trigger, generous sub-limit and low excess.

A recent report by ASIC showed that up to 70% of all financial planners had non-compliant Professional Indemnity insurance. Our exclusive policy is fully compliant.

 

Through our coverage, you will also get the following:

  • Defence costs in addition to the Limit of Indemnity for the first $500,000
  • Fidelity sub-limit of $500,000
  • Loss of Documents sub-limit of $500,000
  • Official Investigations & Disciplinary Hearings sub-limit of $250,000
  • Continuous Cover
  • Covers New Authorised Representatives
  • Run-off cover for Credit services extended for a 12 month period from the date the insured ceases its Credit services
  • Covers Self-Managed Superannuation Advice

At Coverforce, our experienced brokers can review your current insurance arrangements and provide you with obligation free advice on effectively managing any exposed risks. We ensure that any cover we recommend is necessary and of the highest quality, whilst still offering excellent value for money.

Having someone to guide you easily through the insurance process and your individual work environment makes all the difference when choosing the right cover.

Your Coverforce broker will tailor your policy to match your individual circumstances – so you don’t pay for cover you don’t need.

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Would you like a quote? Simply follow these steps:

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