News

Confused about PI and PL?

Jun 20, 2023 | Business

If you provide advice to your customers – like how to set out a kitchen or bathroom, for example – a mistake or misunderstanding around the information you give could see you facing a legal claim.

Professional Indemnity (PI) insurance is essential for those who offer design advice as part of their service. PI insurance covers an ‘act, error or omission in design or specification’ and provides you and your client with great peace of mind.

Doesn’t my Public Liability (PL) Insurance cover this?

If you charge fees for your service and advice, most (if not all), public liability policies will exclude claims for injury or damage that may arise from a breach of your professional duty. You’ll need professional indemnity coverage to respond to such claims.

How is a Professional Indemnity (PI) claim triggered?

A public liability claim can only be initiated if there is third-party injury or property damage. On the other hand, a professional indemnity claim can be instigated by a financial loss to your client or a third-party contractor as a consequence of an error or omission deemed to be a breach of your professional duties.

We’ve worked closely with our insurance partners, CMIB, to tailor a combined Professional Indemnity and Public Liability Insurance Policy that best reflects the services carried out by kitchen, bathroom and interior designers. And we’ve leveraged our group buying power to negotiate a hard-to-beat rate, with premiums starting from just $660.

Learn more about our KBDi Group Policy here.

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