Every Migration Agent understands that the process of providing advice and assistance to potential migrants is complex, and the stakes can be high. Migration Agents are entrusted with having the right knowledge to deal with each person’s unique case, and clients expect flawless service at every point. When things go wrong, tensions can run high. Professional Indemnity insurance could be the key to protecting you and your reputation from a potentially large financial claim, and a prolonged period of stress.
First, let’s be clear about its purpose: Professional Indemnity insurance provides financial protection against potential losses arising out of acts, errors and omissions from professional services and advice provided, including:
- Negligence in providing professional services
- Breach of duty of care
- Allegations of misrepresentation or of creating a misleading impression
- Breach of statutory provisions in various laws
- Incorrect or inadequate advice
- Errors on Visa applications
- Late lodgement of documentation
So, we’re talking about liability for services and advice provided. Effectively, this means that if a client engages a registered Migration Agent to assist them navigate the complex world of visa applications and something goes wrong, or is even perceived to have gone awry, the business could be faced with a financial claim equivalent to the client’s losses, as well as additional compensation.
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