Insurance FAQ’S

Public Liability insurance is not legally required for janitorial businesses in Australia, but it is commonly held. Many clients, property managers and commercial contracts require evidence of cover before work starts. Public Liability insurance is designed to cover legal liability if a third party is injured or their property is damaged as a result of your business activities, subject to the policy terms, limits and exclusions.

Professional Indemnity Insurance is designed to cover claims arising from professional negligence, errors or omissions in the services you provide. While it is not a legal requirement for IT contractors in Australia, it is commonly held by IT contractors across Australia. Many clients, professional associations and booking platforms may expect you to hold current Professional Indemnity cover before engaging your services. Without this type of cover, you could be personally liable for legal costs and compensation claims. Speaking with an insurance broker can help you understand the level of cover appropriate for your circumstances.

Several factors can impact the cost of policy premiums for software developers in Australia. These include the type of coverage your business activity requires, such as Professional Indemnity, Public and Products Liability, or Cyber insurance, which can all be included inside an Information Technology policy. The nature and scope of your business activities, the services you provide, and the sensitivity of the data you hold may also affect your premium. Other contributing factors include annual turnover, number of employees, location, claims history, and the cover limits and applicable excess you select. Because each business is different, costs can vary significantly, and premiums may change at renewal in line with risk and claims experience.