Occupational Health and Safety Consultants Insurance in VIC AU
Professional indemnity and liability insurance protection for OH&S consultants
Occupational safety and health consultants are exceptionally trained to review the working environment of businesses and their employees. As a specialist, you propose improvements to strengthen the workplace and ensure compliance according to Australia’s Occupational Health and Safety laws.
Due to the fact that OH&S consultants provide advice it is critical for them to have the right insurance in place. FD Beck Insurance Brokers can assist you with arranging a policy to help protect you as you go about your daily business.
What Policy Coverage Does an OH&S Consultant Need
As a safety consultant, you are responsible for ensuring compliance with all applicable safety regulations, policies and practices. At FD Beck, we can arrange insurance coverage to meet the needs of a health and safety consultant.
Professional Indemnity Insurance
As you’re providing professional advice about workplace health safety services, you are at risk of potential PI claims. If the service you provide has inadvertently breached your professional duty, your customer may claim compensation for losses and expenses attributable to you because of negligence.
Professional Indemnity insurance for health and safety consultants may cover damages claimed by a third party and the legal fees associated with defending such claims.
Public Liability Insurance
Public liability insurance may protect you against injury or property damage to others or their premises whilst conducting your business.
Public Liability Insurance for health and safety consultants is required because you may be held liable for accidents and injuries that occur while conducting consultancy work.
Public liability coverage will cover claims by a third party for compensation relating to either personal injury or damage/loss of their property as a result of your actions.
Key Exposures for OH&S Consultants
If there is any negligence or error in the services you provide, it may result in your client suffering a financial loss which can lead to a claim for compensation against you or your business. Therefore, by purchasing protection in the form of insurance, you are able to protect yourself against such potential claims.
Here are some possible reasons why OH&S consultants need insurance to protect themselves against possible claims:
- Failure to develop, implement and review policies and procedures to ensure that client meets all the statutory requirements, resulting and the client receiving significant fines and penalties.
- Failure to maintain and update information and advice in relation to OSH policy and legislation meaning that client does not receive the appropriate notification which leads to a client breach.
- Inadequate management of incident and hazard reporting and workplace inspections.
- Inadequate training and awareness programs for client staff resulting in work place injury or death.
- Violation of privacy & breach of confidentiality
Allow Us to Arrange Your Insurance Policy
Whether you’re implementing risk management systems, giving professional advice, conducting workplace audits, or training workplaces in health and safety management procedures, you are potentially exposed to the risk of a PI claim.
Let FD Beck help you with the insurance protection you need. One of our professional brokers will be more than willing to explain the process and the type of policies most suitable for you.
Explore our online quoting tool for an instant quotes.
FAQs
1. How much does a PI insurance cost for health and safety consultants?
This will depend on multiple factors, including a client’s contractual requirements, the size of the business, the types of service provided, and the level of cover required. If you are unsure, it is recommended to consult with one of FD Beck’s qualified insurance brokers to know the cost and what it covers.
2. How much professional indemnity cover do you need?
In Victoria and many other states, the professional indemnity cover offered by insurance companies ranges between $500,000 and $5,000,000. The PI policies, however, are flexible. As such, you can have a customised limit based on your individual requirements. To get more advice about policy limits you can also refer to our blog “How much professional indemnity does a consultant need.”
3. Is PI insurance for health and safety consultants a requirement?
In Australia, there is no law requiring professional indemnity insurance for the consultancy industry. However, it is recommended if you’re a professional who charges fees for service or advice. There are also factors to consider before deciding how much PI to buy, especially for business consultants and freelance professionals.
4. Can I get an insurance policy package according to my budget?
We will help you create the package that best suits your business needs and budget. We’ll also thoroughly guide you through the application process. Many consultant make the mistake of thinking that they only require Professional Indemnity Insurance and don’t require Public Liability cover. As a result, it’s also helpful to understand what public liability insurance covers.
5. Can I request an online quote?
Please use our free online insurance quote tool for instant quotes. By answering a few simple questions, you can generate an immediate online quote.
6. Are there other insurance types I need?
That depends. If you run a business with employees, you need to secure other business insurance types such as worker’s compensation.
