Australian Immigration Daily News

Working as a Registered Migration Agent can mean assisting clients in making one of the most important decisions of their lives: helping them migrate to Australia.

Do I really need Professional Indemnity Cover?

Taking out Professional Indemnity cover is not only the most sensible professional decision you can make, it’s also a legal requirement. Migration agents are required under the Migration Act to hold a Professional Indemnity policy which features at least $250,000 in coverage. Why? Because it protects you against claims from clients who allege you or your business did something wrong or failed to do what it said it would. You might have made a genuine mistake or you might have done nothing at all, but either way you could be facing a big bill. You will have to hire lawyers and your business might be forced to pay your client compensation and its legal fees if you lose or settle the case.

A lawsuit is incredibly stressful and very time consuming to deal with. The future of a small Migration Agency accused of negligence can hang in the balance. If its reputation is badly damaged by a lawsuit then clients may not want to do business with it again. That’s where Professional Indemnity Insurance can be a real lifesaver for a small business. If your business is sued then your insurer would step in and effectively act like your company’s in-house legal team to help you deal with the situation.

What are common triggers of law suits against Migration Agents?

• Incorrect advice or errors on Visa applications
• The late lodgement of documentation
• Incorrect advice on migration issues
• Failure to provide accurate information regarding migration country

 3 things to consider when purchasing a Professional Indemnity policy: 

1. Guarantees the best price on the market – BizCover has a Price Promise and has been a partner of the Migration Alliance since 2009.
2. Understands the coverage needs of Migration Agents including the territorial and jurisdictional limits of your cover
3. Is recognised by the Migration Agents Registration Authority (MARA) and the Migration Alliance

We Suggest BizCover

It’s simple to get covered with BizCover

Our extensive experience working with BizCover not only makes us them the preferred choice, but also allows us to receive special discount for members of the Migration Alliance.