Marketing Consultant PI Insurance

Most sole marketing consultants and small agencies find $1 million to $2 million sufficient for their client base. If you work with government or large corporate clients, you may need $5 million or more. The appropriate limit depends on the size of your engagements and the contractual requirements of your clients.

Yes. Most marketing consultant PI policies cover unintentional infringement of copyright, trademarks and other intellectual property rights in creative work you produce. This includes using images, music, fonts or content without proper licensing. Intentional infringement is not covered.

Yes. If a client alleges your marketing strategy or campaign execution was negligent and caused them financial loss, PI insurance covers the defence costs and any damages. This is one of the most common claim types for marketing consultants, which is why avoiding guaranteed performance promises in your contracts is important.

It depends on the policy wording. Many modern PI policies for marketing professionals include social media management within the definition of covered services, but some older or more restrictive wordings may not. Always confirm that your specific services are captured in the policy definition. Shielded Insurance can check this for you.

PI insurance covers claims arising from your professional advice and creative work, such as a campaign that allegedly caused financial loss or content that infringed someone's copyright. Public liability covers physical injury or property damage, such as someone being injured at your office or at a client event you organised. Both policies cover different risks.

Some policies extend cover to subcontractors and freelancers working under your direction, while others exclude them. If you regularly engage external designers, developers or copywriters, this is a critical point to verify. You should either ensure your policy covers their work or require them to hold their own PI insurance.

Contact Shielded Insurance for a free comparison quote. We source options from domestic markets, specialist underwriting agencies and Lloyd's of London syndicates to find competitive cover that matches your specific services and client base. The process typically requires details of your revenue, services offered, client types and claims history.

Professional indemnity (PI) insurance protects professionals and businesses against claims arising from negligent acts, errors, omissions or breaches of professional duty in the provision of services or advice. It covers legal defence costs, settlements and damages awarded against you. PI insurance operates on a claims-made basis, meaning the policy in force when the claim is made responds - not the policy in force when the work was performed.

Any professional who provides advice, designs, recommendations or services to clients should carry PI insurance. This includes accountants, architects, engineers, lawyers, financial planners, mortgage brokers, IT consultants, real estate agents, builders, health practitioners, management consultants and many more. For many professions, PI insurance is mandatory under Australian legislation or industry body requirements.

PI insurance premiums depend on your profession, annual revenue or fee income, claims history, limit of indemnity required and the scope of services you provide. A sole practitioner consultant might pay $500 to $2,000 per year for $1M cover, while a mid-size engineering or accounting firm could pay $5,000 to $20,000+ for $5M to $10M cover. High-risk professions like financial planning or building design attract higher premiums.

PI insurance typically covers legal defence costs (solicitors, barristers, court fees), damages or settlements awarded to the claimant, investigation costs from regulatory bodies, breach of professional duty, negligent acts or omissions, unintentional breach of confidentiality, loss or damage to client documents, and defamation arising from professional activities. Cover extends to past work through retroactive dates.

Yes, for many regulated professions in Australia. Mandatory PI insurance requirements apply to solicitors, financial advisers (AFSL holders), mortgage brokers, accountants (registered tax agents), architects, building practitioners in most states, real estate agents, migration agents, customs brokers, and various health practitioners. Requirements vary by state and professional body - check your specific obligations.

Professional indemnity covers financial loss caused by your professional advice or services - for example, an accounting error that costs a client money. Public liability covers physical injury or property damage caused by your business operations - for example, a client tripping over a cable in your office. Most professionals need both, but they cover fundamentally different risks.

PI insurance operates on a 'claims-made' basis, meaning the policy that responds is the one in force when the claim is first made or notified - not the policy that was in force when the work was performed. This is why continuous, unbroken cover is essential. If you change insurers or let your policy lapse, you may lose cover for past work. Run-off cover is available for professionals who retire or close their practice.

The limit of indemnity you need depends on your contractual obligations, regulatory requirements and risk exposure. Many contracts require $1M, $2M, $5M or $10M minimum cover. Regulatory requirements vary by profession - for example, AFSL holders have specific minimums set by ASIC. Consider your largest client contracts and the potential financial impact of a claim when selecting your limit.

Contact us at Shielded Insurance on 1800 97 98 99 or your insurer directly. With PI insurance, early notification is critical - you must notify your insurer of any claim or circumstance that could give rise to a claim as soon as you become aware of it. Late notification can jeopardise your cover. Never admit liability or attempt to settle a claim without insurer approval.

We access a broad range of Australian domestic markets, specialist underwriting agencies and international capacity including Lloyd's of London syndicates. This allows us to place cover for standard professions through to complex or hard-to-place risks. As brokers, we compare multiple options to find competitive and suitable cover for your profession and risk profile.