Insurance FAQ’S

W&I insurance can be taken out by either the buyer or the seller. In Australia, the majority of policies are buy-side, which can allow the buyer to claim directly from the insurer for a breach by the seller without first pursuing recovery from the seller, subject to the terms and conditions of the specific policy.

Warranty and indemnity (W&I) insurance is a purpose-designed insurance solution for parties involved in mergers and acquisitions, designed to help protect against financial losses arising from a breach of warranties or indemnities in a sale agreement. Each policy is tailored to the specific transaction.

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 tech businesses in Australia, it is commonly held by tech businesses 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.