What is not covered?
Once your practice takes off and you exceed the earnings caps detailed above, you will need to upgrade your insurance.
Certain other activities not covered, such as underground mining components and technology in manufacturing plants. It’s wise to study the ACS member insurance policy closely.
What about cyber insurance?
The Professional Indemnity component covers you for liability you incur to third parties when your own activities cause a data breach.
To make sure you are covered if your own systems are breached – causing financial loss to your clients or third parties – you need to hold a specific Cyber Insurance policy.
Need additional coverage?
The ACS insurance suite only provides essential forms of liability insurance. You may also need to consider taking out other insurance, such as cybersecurity and workers’ compensation insurance.
If you exceed the consulting fee cap or are looking for additional products, please contact ACS insurance partner Insurance House, or your broker.
Call Steve Rawlings on +61 3 5483 1073 or +61 407 668 943 or email Steve.Rawlings@insurancehouse.com.au