Professional Indemnity Insurance for IT Consultants

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Before you start consulting, consult with Aon!

At Aon, we understand the risks you face as an IT Consultant.

With every system you implement and every piece of software you design, the risk of a claim being brought against you for a design error or implementation fault increases. The risk of financial loss involved in not having the correct cover in place is huge with defence costs often stretching to hundreds of thousands of dollars.

Aon offer competitively-priced, tailored insurance. With us, you’re covered for the key risks you face every day.


I am taking up a contract overseas, will I be covered?

Overseas activities will be covered excluding USA & Canada (conditions apply).

Why do I need Professional Indemnity insurance?

You may be held liable for an error even though there was no negligence or error on your part. So you need Professional Indemnity Insurance cover to ensure you are protected against legal costs and claims for damages to third parties arising from an act, omission or breach of professional duty in the course of your business. 

I am hiring a sub-contractor; will they be covered under my Aon policy?

If you engage consultants, contractors, subcontractors or agents, we can ensure you are covered if they make any errors or omissions.

I am getting into a contract. How do I cover for contractual liability / subrogation?

We understand entering into contracts can be stressful, so we have negotiated this with our insurers to include it as automatic cover for defence costs associated with legal proceedings, verbal or written demand as a consequence of liability under a contractual warranty, guarantee or undertaking or breach of indemnity or hold harmless term in a contract (conditions apply)

I have ceased business, am I still exposed to a claim for my past work?

Yes, you are! In order to maintain protection against past activities once you have ceased business or retired, continuation of insurance is essential. Such a cover is called “run off cover”. If you retire or leave the profession, our policy will still cover you for claims relating to incidents that occurred when you were working.

What do cost exclusive limits mean?

We pay all your defence costs, even if your claim reaches the maximum of your indemnity.

What if I have exhausted the limit of my cover?

If a claim amounts to your maximum cover, we will automatically reinstate your cover value - up to two times.

Example: If you choose $1,000,000 cover you get; $1,000,000 for any one claim and 3,000,000 in the aggregate during the period of insurance.

I don't operate from an office, do I still need Professional Liability cover?

You need Public liability irrespective of whether you operate from an office or not as
It protects you for claim against personal injury or damage to their property. This is something can happen whilst you are on client site.

Example: You are working from your client’s site & you spill water on the floor. A person slips and gets injured. A claim is brought against you or your business for causing personal injury.

Why should I buy with Aon?

At Aon, everything we do is focused on making a difference, enabling our clients and our communities to meet their objectives. We believe in going above and beyond through solving problems and innovating with our strategic partners to win together for our mutual clients. We understand the risks you face as an IT Consultant. Aon offer competitively-priced, tailored insurance. With us, you’re covered for the key risks you face every day.

More common risks for IT Consultants:

ABC Pty Ltd was engaged by XYZ Pty Ltd, to develop software which would enable them to consolidate all of their properties.

ABC Pty Ltd succeeded in developing a system which was accepted by XYZ Pty Ltd and was further implemented. After the launch of the software system, XYZ Pty Ltd began to experience a series of issues with the software system. ABC Pty Ltd attempted to work with XYZ Pty ltd to resolve these issues however; XYZ Pty Ltd alleged that the system had deficiencies in its functionality and required replacement. They alleged that their business had suffered huge losses due to ABC Pty Ltd.’s misrepresentation in the design and implementation of the software system.

Given the projected claim size and defence costs expected to be incurred, a quantum of $700,000 was placed on the claim.

XYZ Pty Ltd, wanted to reduce the paperwork involved in their daily processing tasks.

The firm engaged a software developer and integrator ABC Pty, to provide a workflow management system that involved imaging documents. In the tender process it was agreed that document retrieval time would be between 2-4 seconds. However, during the course of the project it was discovered that the retrieval time would not be achieved as promised, but ABC Pty Ltd continued to invest into the project and the final retrieval time ended up being over 60 seconds. As a result, legal action was taken against ABC Pty Ltd due to poor performance of the software.

A claim was made and the court awarded damages against the insured in excess of $4,000,000

    *Prices vary based on Professional Indemnity limits chosen, GST & the stamp duty of your state. Price based on a IT Consultant based in NSW with a $1 million liability limit.

    Professional Indemnity Insurance for Consultants is arranged by Aon Risk Services Australia Limited ABN 17 000 434 720 AFSL 241141 (Aon) as agent for the insurer, CGU Insurance, ABN 11 000 016 722 AFSL 227681. If you purchase this insurance, Aon will receive a commission that is a percentage of the premium and will share this with CoverWallet Science, Inc. (ARBN 632 740 259) who help us distribute this product. Please let us know if you would like any further information.

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