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.

Why Aon?

Tailored insurance solutions for Patent & Trade Mark Attorneys

Range of options

Access to a range of flexible insurance options tailored to suit patent and trade marks attorneys, including:

Professional Indemnity
Cyber Liability
Business Insurance
Public Liability
Management Liability & more

Choice & Flexibility

Aon has access to a broad range of insurers and solutions which enable us to offer you an insurance program aimed tailored to your business requirements, and your practice as a patent and trade marks attorney.

Managing your claim

If you do need to make a claim, Aon offers a dedicated team of in-house claims experts who can help to achieve the desired outcome for you and support you through the claims process.

Be sure with an Aon broker

Talk to our specialists

Prefer to discuss before you buy? Our team of insurance specialists are here to answer all your questions over the phone.

02 8623 4221

What Insurances should Patent and Trade Marks Attorneys consider?*

Professional Indemnity

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Cover for patent and trade marks attorneys practicing in Australia. This helps with claims made against your practice by customers or other third parties, where in performing your professional services, your business has caused them loss.

Business Insurance

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Cover for the cost to repair or replace your premises or business property following an event including fire, storm, or vandalism, and can include your business loss caused by the interruption.

Cyber Insurance

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Cover for expenses and legal costs associated with a data breach, loss of client information or cyber-attack. Costs can include computer expert services, data recovery, ransom and legal costs.

Management Liability

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Cover for losses incurred, including legal costs, where a Director or Officer has committed a wrongful act in their capacity as manager of the corporate entity (excluding acts of fraud or crime).

Public Liability

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Cover for claims against your business made by a client, contractor, or a member of the public for accidental personal injury or damage to their property. This could arise from an incident on your business premises or as a direct result of your business operations.

FAQs

Frequently Asked Questions

For Patent and Trade Mark Attorneys. Here are some questions commonly asked.

Why should I consider professional indemnity insurance?

As a patent or trade marks attorney you are providing professional advice to your clients daily. If you make an oversight, error or omission with this advice, the other party may suffer a financial loss and as a result bring a claim against you for these losses. Professional Indemnity Insurance is designed to cover you for the claimed amount, as well as the associated defence costs, subject to the terms and conditions of the policy.

How much professional indemnity insurance do I need?

Within Australia, all incorporated patent and trade marks attorneys need to maintain adequate and appropriate professional indemnity insurance in order to practice, and we recommend the same cover be taken out by all non-incorporated attorneys. For incorporated practices, the minimum amount of professional indemnity insurance limit will likely be based on your individual requirements, in addition to the size of your practice and other possible criteria.

Will professional indemnity cover my business for work done by a contractor?

Professional indemnity will cover your business for vicarious liability for claims you may incur as a result of work done by a sub-contractor for or on your behalf. It does not, however, cover the contractor directly as it would an employee.

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.

More FAQs

At times I provide services to clients outside of Australia. Would I still be covered under the policy?
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.

The news you need to know

Contact

Ways to get in touch

Call 02 8623 4221

8:30am - 5:00pm AET
Mon - Fri (except public holidays)

Email us

au.professions@aon.com

*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.