Important Notice
This is a summary only of the professional indemnity and public & products liability insurance policy held by Expert360. Nothing set out below is general or personal advice. Nothing contained in this summary should be understood to be an express or implied condition, term or exclusion which forms part of the Insurer Policy terms and conditions or be relied upon in the event of a Claim. Please contact Expert360 for access to the Certificate of Currency and/or Insurance Policy Schedule and/or Policy Wording for information as to the specific coverage, terms, conditions and exclusions afforded by the Insurer in the event of an incident, occurrence or Claim. Please also note that each Claim may be subject to an Excess payable by the Expert - full details of the Policy, its coverage and exclusions including the applicable excess details are available on request by the Expert.
Content provided by Modern Risk Solutions Pty Ltd who is Corporate Authorised Representative of PSC Connect Pty Ltd (AFSL 344648)
What is covered?
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Expert360’s Professional Indemnity Insurance is a policy covering up to $10 million per occurance ($20M in Aggregate) that insures Experts registered in the Expert360 marketplace for their liability for damages arising from acts, omissions or breaches of professional duty, subject to eligibility criteria.
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Expert360’s Public & Products Liability Insurance is a policy covering up to $20 million that insures Experts registered in the Expert360 marketplace for personal injury or property damage that arises as result of your business activities, subject to eligibility criteria.
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All eligible engagements made through Expert360’s platform will have access to Expert360’s insurance cover. There are some limited cases where an engagement will not be eligible. Please contact [email protected] or ask your Account Manager for more information.
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The Professional Indemnity Insurance is on a claims made and notified basis which means that the policy limit, terms and conditions which are applicable to a notified claim are those of the current policy period when the claim is notified – not when the claim occurs (if outside the current policy period). These may also be different from the insurance terms and conditions in place when the project contract was entered into if it also was in a different policy period. Claims must be lodged within 30 calendar days of the date of the incident.
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All coverage is subject to the policy’s terms and conditions and there are exclusions that apply.
What isn’t covered?
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Individuals/companies not registered on Expert360 are not covered under the insurance policy. Please ensure the Expert that completes the project for you (Client) is registered on Expert360 and he or she is the person or company that your project is assigned to.
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Projects must be contracted, invoiced and paid via the Expert360 platform to be eligible for the coverage, unless otherwise agreed.
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The policies do not cover personal injury to, or damage to property belonging to the Expert, and should not be considered a replacement for workers compensation, income protection or other similar types of insurance.
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Expert360’s insurance cover is not available for project services performed for any business or company based in the United States & Canada.
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The policy will not cover Experts who make a claim as a result of financial or investment advice which requires an Australian Financial Services License.
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The policy will not cover Experts who make a claim in relation to advice relied upon for M&A, Capital Raising, Divestitures and/or consolidations. (This is only where the Expert is subject to transaction risk)
Insurance FAQs
Expert360 holds policies with Pacific Indemnity Underwriting Solutions Pty Ltd (ABN 14 606 511 639) for professional indemnity and public & products liability insurance that extend to cover eligible Experts.
- Expert360’s Professional Indemnity Insurance is a policy covering up to $10 million per occurance ($20M in Aggregate) that insures Experts registered in the Expert360 marketplace for their liability for damages arising from acts, omissions or breaches of professional duty whilst performing during an eligible project on Expert360.
- Expert360’s Public & Products Liability Insurance is a policy covering up to $20 million that insures Experts registered in the Expert360 marketplace for personal injury or property damage that arises as result of your business activities whilst performing during an eligible project on Expert360.
When you contract with a client through Expert360 Marketplace and you are eligible, you will be covered for Professional Indemnity and Public & Products Liability Insurance for the duration of your project. This is at no direct cost to the Expert.
When you engage an eligible Expert through Expert360, they will be covered for Professional Indemnity and Public & Products Liability insurance for the duration of your project. Clients and other companies based in the United States & Canada are excluded.
All eligible engagements made through Expert360’s platform will have access to Expert360 Insurance. There are limited cases where an engagement will not be eligible. Please contact [email protected] or your account manager for more information.
Should your project not be covered, any Insurances required by the client needs to be paid for and arranged by the Expert. We suggest that the cost of this is factored into your proposed daily rate. Contact [email protected] or your insurance broker for more information on the right policy for you.
Many claims made under the insurance and for which the policy responds are subject to an excess that is payable by the Expert. The applicable excess that applies depends on the applicable policy and circumstances of the claim.
Yes, all Experts working under eligible projects are now covered.
All eligible engagements made through Expert360’s platform will have access to Expert360 Insurance. There are some cases where an engagement will not be eligible. Please contact [email protected] or your account manager for more information.
Expert360 Insurance will remain the Underlying Policy, and any additional Insurance required will go on top. Any additional Insurance needs to be paid for and arranged by the Expert. Where the Expert holds other professional indemnity or public & products liability insurance, that insurance will be the Primary coverage and the Expert360 Insurance will be Secondary coverage on top of the Expert’s Primary insurance.
No, this is not covered under Professional Indemnity or Public & Products Liability Insurance. You do not get a refund of fees (either Expert Fee or Expert360 Service Fee) through Insurance for poor quality of work unless it is attached to equitable relief or other financial demands for compensation.
No - projects must be contracted, invoiced and paid through the Expert360 platform to be eligible for the coverage unless otherwise agreed.
Expert360 Insurance coverage extends to Professional Indemnity and Public & Products Liability only. The policy does not cover personal injury to an Expert and should not be considered a replacement for workers compensation, income protection or other similar types of insurance. The policy also does not cover any damage to property of an Expert.