ICB is proud to announce the appointment of Insurance Made Easy as broker of choice in preparation of the ICB Professional Indemnity Insurance program.  The insurance being provided by Chubb Security.

The ICB Professional Indemnity Insurance program

The following is a bullet point summary of policy coverage offering,

• Premium Cost effective policy limit per bookkeeper,

• Costs Exclusive policy limit, ie Defence Costs in addition to, and not part of, the Policy sum insured,

• Costs Exclusive policy excess, ie no excess applies to Defence Costs. The policy excess is only $1,000 too,

• Civil Liability policy coverage. This is broader than a negligence wording as it covers strict liability where no negligence is involved,

• Broad business description to cover the many normal business activities of bookkeepers,

• One Reinstatement of Policy Limit per period of insurance,

• Automatic policy coverage up to the policy limit for: Libel, Slander or Defamation Intellectual Property Rights Misleading, Deceptive or Unconscionable Conduct Loss of Documents Dishonesty of Employees

• Policy coverage to a sub limit of $100,000 for Costs of Official Inquiries,

• Policy coverage to a sub limit of $50,000 for Fidelity,

• Automatic coverage for employees of bookkeepers and cover for any sub contractors whilst performing work on behalf of Insured bookkeepers can be negotiated case by case,

• Broad Definition of Claim

Reading between the lines you can see that it is a policy very applicable to us as bookkeepers. 

NOTE: your costs involved in defending a claim ARE NOT part of the excess nor limit.  

NOTE: Inclusion of employees and sub-contractors to be considered. 

PREMIUMS

Insurance Made Easy has created a PI insurance package with premiums we believe are attractive and applicable.

The premiums vary based on two main factors

1)       The level of fee income that you earn

2)       The level of cover that you require

Your precise premium is confirmed following your submission of an application for Insurance. 

Stamp duty is on the premium (excluding the GST).  GST is on the premium (excluding stamp duty).

Click here to download the proposal form 

For further information regarding Insurance Made Easy, visit the Insurance Made Easy website here  

Or call Sam, Sean or Helga 1800 64 12 60 for assistance.