Designed for businesses who give professional advice to clients.
Cover for your Victorian accounting business
Whether you’re a sole practitioner or work in an accounting firm, explore options for your business.
Browse options for your accounting business
This is a summary only. For a full list of inclusions, conditions, limits and exclusions, read the Product Disclosure Statement.
Professional Indemnity Insurance
Public Liability Insurance
Helps protect your business against claims made for property damage or personal injury to a third party.
Frequently asked questions
Professional indemnity insurance helps protect your business if you made a mistake that causes injury, damage or financial loss to your client. This includes:
- breach of duty
- breach of privacy or confidentiality
- defamation
- lost or damaged documents
- intellectual property (IP) infringement
- reputation repair.
You’ll also be covered for costs to investigate the claim, up to the same value as your policy limit.
This is a summary only. For a full list of inclusions, conditions, limits and exclusions, read the Product Disclosure Statement.
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Professional indemnity insurance protects your business against claims of negligence or breach of duty. For accountants, this includes claims against you for:
- providing inaccurate tax advice
- losing or damaging client documents
- accidentally disclosing confidential client information
- submitting a business activity statement (BAS) incorrectly
- making a processing payroll error.
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Public liability insurance helps protect your business if someone sues you for injury or property damage, for covered events. This includes:
- accidental injury to another person, including first aid costs
- accidental loss or damage to another person’s property
- advertising injury to another person
- cost of legal defence and expenses.
This is a summary only. For a full list of inclusions, conditions, limits and exclusions, read the Product Disclosure Statement.
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Not all businesses are the same. When you’re taking out professional indemnity insurance, think about:
- the size of your business (including business income and the number of employees)
- how much protection you want
- how much it would cost to fix the problem if a mistake is made.
Want to talk about your options? Call 1300 133 614.
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Tips and advice for your business
* Award is based on information collected from the RFI Global Atlas research program – feedback from over 80,000 business owners or retail customers from January 2025 through December 2025. Award results are based on the experiences and perceptions of customers surveyed in this period. For RFI Global Atlas and RFI Global Australian Financial Awards information, visit rfi.global/atlas.
The information provided is general advice only. Before making any decisions please consider your own circumstances and the Product Disclosure Statement and Target Market Determinations. For copies, visit racv.com.au. As a referrer, RACV Insurance Services Pty Ltd AFS Licence No. 230039 receives commission for each policy sold or renewed. Product(s) issued by Insurance Australia Ltd, ABN 11 000 016 722, AFS Licence No. 227681.