Insurance FAQ’S

Public Liability insurance is not required for bricklayers. However, it is commonly expected by builders, principal contractors, councils and commercial clients before you can work on site. It is designed to cover claims if your bricklaying activities cause injury to someone else or damage to third party property subject to the terms, conditions and exclusions of your policy.

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 blockchain companies in Australia, it is commonly held by blockchain companies 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 crypto businesses 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.