Mediation Consultants Insurance in Victoria, AU

Protect yourself with a customised insurance solution.

Contrary to what we often see in movies and soap operas, disputes do not always result in a drawn-out series of court battles. Such can be very expensive for all parties involved and is often more trouble than it is worth. As such, they often resort to a settlement facilitated by a mediation consultant.

Mediation consultants work to make sure that settlements proceed smoothly and follow the rule of law. As mediators, they have to ensure that compensations are fair and that the proceedings end with real conflict resolution.

Mediation consultants, however, may commit errors or be on the receiving end of allegations of a breach of professional conduct. This makes them potentially subject to a claim from by a third party. The Australian insurance brokering firm FD Beck can arrange mediation consultant insurance policies that will cover these professionals in the event of a claim.

Insurance Options for the Mediation Consultant in Victoria AU

Being a mediation consultant, you may find yourself in an arbitration process if a claim is made against you. You may keep your consulting business afloat and reputation intact with professional indemnity and public liability insurance.

Professional Indemnity Insurance

Professional Indemnity insurance will cover you in the event of a third party allegation of a professional breach that has resulted in them suffering a financial loss. This covers the costs of compensation to settle the claim and the insurers legal costs involved in defending the allegation or claim.

For instance, you may have provided erroneous advice that triggered unnecessary expenses to your client.

Public Liability Insurance

Public liability insurance may provide cover from claims made by a third party due to personal injury or property damage incurred while you are providing your services. Legal costs incurred defending the claim, as well as possible compensation for the personal injury or damaged property, may be covered by this insurance.

Mediation consultants frequently get visitors to their office. Such claims can be covered if through your negligence guests are injured, have their property damaged or lost during their visit.

We understand that choosing the right insurance cover can be complicated. But with the expertise of insurance brokers at FD Beck Australia, we’ll help you choose a policy tailored to your requirements.

Start protecting your business today. Get a quote from us.

Key Risk Exposures of a Mediation Consultant

As a mediator, when providing consulting services to parties in conflict, you may encounter these risks in the process:

Apparent bias to one party or company
Acting beyond the limits and authority in which they are providing mediation services
Giving incorrect information and advice
Breach of privacy and confidentiality laws
Providing legal advice without authority
Failure to create a safe environment where parties can discuss issues in a respectful and open manner resulting in an adverse outcome

Get Adequate Protection Tailored to Your Mediation Consultancy

Getting two parties to agree on a settlement and making sure that conflict resolution works smoothly is a tricky job that may land you in a dispute yourself. However, you can protect your business with an insurance policy that fits your requirements in the event of a claim.

FD Beck’s professional insurance brokers understand the risks you face as you provide your services, and dealing with a claim may be costly on your part.

Let us help you arrange a mediation consultant insurance package tailored to your consultancy business in Australia.

Complete a couple of questions in our online insurance calculator and get an instant online quote today.

FAQ

As a mediation consultant, what amount of PI cover will I need?

Sufficient PI cover for mediation consultants lies between $500,000 and $5,000,0000. The actual cost depends on various factors such as annual fees, number of staff and limit of indemnity required. You may refer to this video for more information.

Is PI insurance mandatory for Australian mediation consultants?

You will find that mediation associations in Australia require their members to have a Professional Indemnity insurance in place. In general, if you offer professional services for a fee, you will need a professional indemnity insurance policy as an absolute minimum. This video explains this subject in more detail.

Can you provide a customised insurance package that matches my budget?

Yes, we can customise an insurance package based on your required limit of indemnity. Our professional insurance brokers would love to discuss this matter with you so they can tailor your business insurance coverage according to your requirements.