Professional Indemnity FAQ

How to measure your Professional Indemnity risk

How is the size of the Professional Indemnity risk measured?

There is no perfect system for measuring the size of the risk, but once the rate for a particular occupation is established, along with other factors such as claims history and location then the next consideration is turnover. But the turnover considered for PI purposes are gross fees earnt. Professional Indemnity insurance pricing is mainly focused on fee revenue, since the risks to professionals typically arise out of the service that they are delivering (as opposed to the sale of products or the existence of property).

The theory being that one company earning $1,000,000 in fees would have twice the exposure of a company earning only $500,000. The theory also is that the latter would have half the number of staff to generate that income hence half the risk. At the moment with the gross fees, we have the most reasonable feel for the size of an exposure.

Latest News

CPR Insurance wins Brokerage of the year

CPR Insurance Services picked up the award for the Best Brokerage (1-5 staff) in Australia, last Friday Night (4th May 2018) at the Insurance Business Magazine Awards held at the Westin in Sydney.

Judging came from various parts of the industry. It is a great honour to be recognised for our hard work and particular Business values we follow. A full list of winners is listed here.

Success comes from having great staff, and we thank Aidan Harmer and Julia McLauchlan as important support staff for helping us win such an award.

CPR Insurance has been in operation for more than 7 years now and is only successful because of the wonderful support from our staff, insurers and most importantly, our fantastic clients who put their faith and trust into our company to be their Risk Advisers and Brokers. 

Thank you to all.

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Robert Cooper - Elite Broker again

We are pleased to announce that once again Insurance Business Magazine has recognised Robert Cooper amongst the top Elite Insurance Brokers in Australia. See here

It is the fourth time in six years Robert has received this honour.

It is a great recognition for CPR Insurance Services who strive to provide the best possible standard of customer care and service to assist obtaining the best possible cover at the best possible price to meet the needs of for our clients.

Such awards are not possible without the outstanding support provided in the office by Julia, Aidan and Mandy, along with the fantastic support our clients continue to show to us. Thank you to all.

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