IPTA and Aon
Professional Indemnity Insurance designed for Members of The Institute of Patent and Trade Mark Attorneys of Australia
Aon and IPTA have come together to develop an insurance solution that caters to the needs of IPTA members. In alliance with the IPTA, Aon have worked with industry experts to listen to the needs of patent and trade marks attorneys and negotiated with the insurer, to develop cover that encompasses quality, price and service.
Michael Caine – President, IPTA
IPTA is very excited to be able to announce our alliance with Aon, which has been more than 18 months in the making and which we believe will provide an attractive PI Insurance solution for our members, particularly for sole practitioners and small to medium sized firms.
Professional Indemnity Insurance and more through Aon.
As a member of IPTA you have access to a professional indemnity insurance program that has been developed based on the activities and exposures specific to what patent and trade marks attorneys may commonly face in their practice. Through Aon, you also have access to a broad range of cover solutions including business insurance, management liability and cyber liability insurance cover options all in the one place. Talk to an expert and find out more today.
Depth and detail with expert advice.
Talk to an expert – Gain confidence by discussing your insurance requirements, and the options available to you, with a dedicated team of professional advisers who understand the insurance needs of patent and trade marks attorneys.
Deep industry insights – We use our data-driven insights and deep industry knowledge to offer you an insurance program to suit your business’ requirements.
Knowledge & thought leadership - Keep updated with key risk exposures and insurance solutions through Aon’s extensive thought leadership and market insights, that we’ll offer you across a wide range of topics, risk management reports, with access to exclusive events and more.
Tailored insurance solutions for Patent & Trade Mark Attorneys
Range of options
- Professional Indemnity
- Cyber Liability
- Business Insurance
- Public Liability
- Management Liability & more
Choice & Flexibility
Managing your claim
This is because as a sub-contractor they will likely also provide services to other businesses and parties, and naming them as an insured may potentially expose you to liabilities outside your business, that are completely outside of your control. Due to this we do recommend that any sub-contractors engaged, maintain their own insurances to cover the work they do for other clients.
The standard territorial limits under the policy are worldwide excluding USA or Canada. If you are providing 10% or less of services to clients within the USA or Canada this coverage can be extended to cover you for your services worldwide.
By extending the territorial limits, this will cover you for activities or services anywhere is the world. However, all claims under the policy would need to be brought against you in a Court of the Commonwealth of Australia.
If you are providing any services which require more detailed consultations (such as if more than 10% of your services are to clients outside of Australia), Aon will work with you accordingly.
Do I maintain my insurance if I stop trading?
Professional Indemnity is a claims-based insurance. This means that a policy needs to be active when a claim arises in order to respond, even if this event that lead to the claim occurred several years ago. Due to this, if you do cease trading we recommend maintaining what is called a “run off” professional indemnity policy. This is an active policy that will cover you for activities when you were trading, to ensure you have cover in place when a claim is made afterwards, up to 7 years.
*All policies set out above are subject to full policy terms and conditions.
Professional Indemnity Insurance for members of the Institute of Patent and Trade Mark Attorneys of Australia (IPTA) (ABN 78 004 194 263) is arranged by Aon Risk Services Australia Limited ABN 17 000 434 720 AFSL 241141 as agent for the insurer, FTA Insurance Pty Ltd ABN 69 614 898 270 AFSL 493713. If you purchase this insurance, we will receive a commission that is a percentage of the premium. Further information can be provided upon request.
Cyber Liability insurance is arranged by Aon Risk Services Australia Limited ABN 17 000 434 720 AFSL 241141 (Aon) on behalf of the product issuer CFC Underwriting Limited 1999-2019 of London, Company Number 03 302 887. If you purchase this insurance, Aon will receive a commission that is a percentage of the premium. Further information can be provided upon request.
The Institute of Patent and Trade Mark Attorneys of Australia (IPTA) (ABN 78 004 194 263) acts as a referrer of Aon’s products and services only. All services in relation to insurance products are provided by Aon Risk Services Australia Ltd ABN 17 000 434 720 AFSL 241141 (Aon), not by IPTA. IPTA is not a representative of Aon and accepts no legal responsibility for any advice given by, or any act or omission of, Aon. IPTA may receive a referral fee from premium commission received by Aon as a result of referrals made by IPTA to Aon. If you require further information about our relationship, please feel free to contact Aon or IPTA.