Professional Indemnity Insurance


Coverforce have two Professional Indemnity Insurance policies available to The Co-Operative. One is supported by CGU Insurance, a local Australian Insurer. The other is supported by Lloyds of London.

These schemes provide your business with cover in the event of a claim of professional negligence. This is important as a franchise owner who sells their business could still be sued many years later over matters they may have been responsible for whilst in the business.

Under normal circumstances, run off insurance could cost the equivalent of approximately 4-5 years of annual premiums.

Cover includes:

  • Costs incurred to investigate a claim
  • Legal costs incurred to defend the Insured
  • Costs to dispose of a claim for which either a settlement has been reached or for which you have been found liable by the courts.

Benefits of the CGU Professional Indemnity insurance scheme may include:



  • A comprehensive policy wording backed by the quality CGU Insurance
  • Free 7 years run off cover for eligible insureds
  • Two reinstatements of the indemnity limit
  • Automatic Fidelity sub limit of $100,000
  • Optional Employment Practices Liability sub limit of $500,000
  • Statutory Liability sub limit of $250,000
  • Optional Cyber (first party and third party cover) sub limit of $250,000
  • Costs in addition limit of indemnity
  • Low “costs inclusive” excess structure
  • Definition of employee extends to include contractors/consultants/sub-contractors
  • Franchisor Liability Extension
  • Bodily injury/property damage cover to the full policy limit
  • Continuous Cover provision

Benefits of the Lloyds of London Professional Indemnity insurance scheme may include:



  • A comprehensive policy wording backed by the quality of Lloyd’s of London
  • Free 7 years run off cover for eligible insureds
  • Two reinstatments of the indemnity limit
  • Automatic Fidelity sub limit of $100,000
  • Employment Practices Liability sub limit of $500,000
  • Statutory Liability sub limit of $250,000
  • Cyber Liability (third party cover)
  • Costs in addition limit of indemnity
  • Low “costs exclusive” excess structure
  • Definition of employee extends to include contractors/consultants/sub-contractors
  • Franchisor Liability Extension
  • Bodily injury/property damage cover to the full policy limit
  • Continuous Cover provision

For more information or to arrange Professional Indemnity Insurance for your business, contact us today.

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