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Whether you are a sole trader bookkeeper or run a bookkeeping business you may have come to the SMART place for suitable professional indemnity and public liability insurance.
From 1st July 2011, the Tax Practitioners Board (TPB) requires all Australian book keepers, tax agents and BAS agents to purchase a minimal level of professional indemnity (PI) insurance based on annual turnover.
The table below specifies the minimum level of cover required:
| Tier | Annual Turnover | Minimum amount of aggregate cover required |
|---|---|---|
| 1 | Up to $75,000 (ex. GST) | $250,000 cover inclusive of legal and defence costs |
| 2 | $75,001-$500,000 (ex. GST) | $500,000 cover inclusive of legal and defence cost |
| 3 | Over $500,000 (ex. GST) | $1,000,000 cover inclusive of legal and defence costs |
If you are trading as a bookkeeper, you need to protect yourself with Professional Indemnity Insurance. Professional Indemnity Insurance can protect you against legal action initiated by your clients if you make any errors whilst performing your duties as a bookkeeper.
Claims can run into the hundreds of thousands of dollars, so it is important that an adequate level of cover is chosen to protect against major financial loss, which will not only have an impact on your business, but could also affect your personal assets.
Public liability insurance can sometimes be combined with professional indemnity insurance in the one policy for bookkeepers.
As a specialist business insurance broker, SMART Business Insurance will provide you with general advice and a competitive quote on a suitable policy from a specialist underwriting agency
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We are business insurance brokers
What does this mean to you ?
What that means is that we are YOUR representative, and our first responsibility is to YOU, unlike an insurance agent who represents the insurance company.
And in the event of a claim, we fight for YOU, which may mean a faster and more successful claim.^
^Important : We have no power to authorise claims. However, our experience and assistance can help you when you have a claim.
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· We may act for you – not the insurance company
· We may obtain multiple quotes for you on suitable policies from leading insurance companies and underwriters
· You receive responsive friendly service.
· You’ll receive a competitive rate on a suitable policy year after year
· You’ll have us in your court if you need to claim
· Monthly payment options
· We’ll do the leg work for you!
Any information contained in this website is for informational purposes only and is in no way to be considered personal, financial or legal advice.You should contact an authorised insurance adviser, accountant or solicitor to obtain advice in relation to your specific situation . Use of this website does not create a relationship between SMART Business Insurance and the reader.
SMART Business Insurance is a Corporate Authorised Representative (AR Number 437328) of United Insurance Group (UIG) AFS Number 327131
Important : We have no power to authorise claims. However, our experience and assistance can help you when you have a claim.
*Important: Cover may be available subject to meeting insurers underwriting criteria. Some of the covers listed may or may not be available or may have limitations or exclusions. Cover inclusions vary significantly from insurer to insurer. DO NOT rely upon the above. Check your policy schedule carefully for inclusions and exclusions and limitations .Talk to a SMART business insurance broker on 1300 542 573 for more information.
enquiry@smartinsure.com.au
1300 542 573
Smart Business Insurance Offices:
Level 11, 484 St Kilda Road, Melbourne VIC 3004
Level 3, 9-11 Claremont Street, South Yarra VIC 3141
Business Hours:
Monday – Friday 8.45 am – 5.30 pm AEST
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