Finance Brokers Insurance
As every finance broker knows, Professional Indemnity insurance is essential for access to leading lenders.
But most insurance brokers only offer generic Professional Indemnity insurance that is used to cover all types of professional occupations. It’s cover that is not designed to meet the particular needs and licencing requirements of finance brokers.
Our Finance Brokers PI Plus policy is designed to offer Professional Indemnity insurance that isn’t only specific to finance brokers, it’s specific to you.
With Finance Brokers PI Plus, You’re Covered
Since 2000, we have been the appointed insurance adviser to the Finance Brokers Association of Australia (FBAA) and we are proud to offer FBAA members a truly unique Professional Indemnity insurance policy. It’s one that will cover your particular requirements and save you money.
The Pluses of Finance Brokers PI Plus
- Contractual Liability Cover. Unlike many Professional Indemnity policies on the market, Finance Brokers can cover liability associated with contracts that have been entered into, even if your rights have been waived.
- Advancement of Defence Costs. The first expenses you usually see in the event of Professional Indemnity claim are the defence costs from your lawyer. With Finance Brokers, these costs can be settled directly with the law firm. You won’t have to come up with the money up front.
- Fines & Penalties Cover. Finance Brokers automatically includes $100,000 of cover for fines and penalties that you could incur due to not meeting your statutory requirements.
- Consultants, Sub-Contractors and Credit Reps. These are automatically included as co-insureds on your policy which means you won’t have to arrange separate policies for them.
- Fidelity Cover. Finance Brokers automatically also covers Theft of your business’ money (or money for which your business is legally responsible) by your own employees, up to a limit of $50,000.
- Run-Off Cover. The policy will continue to provide cover for seven years Free of Charge after you sell your business and/or cease trading.
- External Dispute Resolution Cover. Automatic cover for any ASIC approved EDR Facility awards up to $500,000 any one claim. A Nil excess applies to these type claims.