Professional Indemnity & Public Liability Insurance
Exclusive to KBDi Members
Hard-to-beat rate – premiums start from just $693
We’ve leveraged our group buying power to get you the best cover at a hard-to-beat rate. Developed with the designer in mind, we have worked closely with Cabinet Makers Insurance Brokers (CMIB) to tailor an exclusive Professional Indemnity and Public Liability policy for our members.
If you provide service or advice to your customers, you could potentially face a claim for damages arising from an act, error or omission culminating in a breach of your professional duties. Unlike a public liability claim (which can only be triggered if there is third party injury or property damage), a professional indemnity claim can be instigated by a financial loss of your client or a third party contractor.
Further to the above, if you charge fees for your service and advice, most (if not all) public liability policies will then also exclude claims for injury or damage that may arise from a breach of your professional duty. You will require appropriately worded professional indemnity coverage to respond to such claims.
We have worked closely with our insurance partners, CMIB, to tailor a combined Professional Indemnity and Public Liability Insurance Policy specifically suited to professionals in the interior design industry, including the niche areas of kitchen and bathroom design. We’ve negotiated a Master Policy exclusive to KBDi Members, meaning we’ve leveraged our group buying power to get you the best cover at the best price.
KBDi does not hold an Australian financial services licence. We recommend you (the person subscribing to the policy) consider obtaining your own financial product advice through our broker CMIB.
Important information regarding your insurance application/proposal
The ‘master policy’ provides Public, Products and Advertising Liability for $20,000,000 any one claim, with an aggregate limit of $20,000,000 (each) for Advertising and Products Liability in any one period of insurance. Professional Indemnity cover is provided for $10,000,000 any one claim, with an aggregate limit of $30,000,000 in any one period of insurance. NB: has a cross liability limit of $1,000,000 per member (this means if one participating member sues another participating member (whom are both insured under the KBDI Master policy) they are each limited to $1,000,000 cover).
As the ‘master policy’ coverage is arranged on this basis, it may not take into account your specific individual needs or circumstances; because of this, you may need to seek your own advice about the extent and limits of coverage provided.
The cover arranged is specifically for KBDi Members’ core business activities and includes:
- design, including advice in relation to design, in accordance with all relevant building, construction or engineering codes and standards;
- drafting, technical detailing, calculation & specification;
- project consulting including guidance and assistance with the procurement and/or supply of products for the purpose of satisfactory completion of projects in line with the design scope, but, excluding installation / construction works activities (not excluding delivery, placement or styling of furniture or décor items);
- project consulting including guidance and assistance with the introduction and liaison of manufacturers and trades for the purpose of satisfactory completion of projects in line with the design scope, but, excluding installation or construction activities and/or the management of such appointed entities;
- training in respect of above.
The cover arranged specifically for KBDi Members’ core business activities includes:
- Design Consultants (automatically covered under master policy)
- Design and Project Consulting (automatically covered under master policy)
- Design, Manufacture, Install &/or Project Management (individual policy required)
- Other activities (individual policy required)
- (Note: you can click on the information icons – look for the little ‘i’ – within the online application to read the definitions of activities.)
When you complete this online application, it will serve as your individual proposal and declaration; as such all answers and information you provide will form the basis of your cover. You should ensure you read all details in full and answer all questions accurately; if you have any uncertainties you should contact the broker for advice.
You will not be covered under the ‘master policy’ if you undertake (or have in the past undertaken or plan in the future to undertake) activities outside the scope of the core “covered” business activities. Therefore you will either require an extension to this cover or to take out additional or alternative cover. For the avoidance of doubt, this ‘master policy’ does not provide cover in relation to any services, advice or activities relating to manufacturing, installation, (except limited supply, delivery, placement or styling) maintenance or repair or any structural works whatsoever. You can contact the broker if you require any specific advice.
Members whose activities fit outside the scope of the core covered activities under the ‘master policy’ can be catered for within the facility on an individual basis and should continue to complete the application if they wish to apply for an individual policy. Once your application is complete, if you are not automatically accepted the broker will contact you promptly to discuss your individual needs and options.
As a two partner design firm working from a home office, the KBDI keeps us in touch with suppliers and other designers. It’s invaluable for keeping us up to date. The insurance is fantastic and basically makes membership free for us.
Jane