Australian Immigration Daily News

You’ve worked hard to build your business, so it makes sense to protect it. Below are the top 5 reasons migration agents should hold and maintain Professional Indemnity and Public Liability insurance.

#1         Protect against claims of negligence, malpractice and professional misconduct

Your service comes with an expectation of a high level of professionalism and specialist knowledge. If something goes wrong you may be held liable.  Someone could make a claim against you for providing incorrect advice or errors on Visa applications, late lodgement of documentation, incorrect advice on migration issues, or failure to provide information regarding migration country.

Professional Indemnity insurance provides protection for financial losses for any legal action taken against you. It covers legal and defence costs, as well as damages awarded against you.

Migration Alliance has partnered with BizCover as the official insurance provider of the Migration Alliance to provide an exclusive offer to its members. Click here to find out how you can save a whopping 38% on your Professional Indemnity cover.

#2         Protect against 3^rd party injury and property damage

If you have people coming into your office or you perform your work at a client’s place or another venue and you accidentally injure someone or cause property damage, you face the risk of legal action. Public Liability insurance protects you against claims from customers or other third parties by covering any compensation awarded against you as well as legal defence costs whether you are found liable or not. 

#3         It’s a requirement under the Migration Act 1958 and MARA registration

To be eligible to provide migration consultation and agency service in Australia, migration agents must hold Professional Indemnity insurance for at least $250,000 under the Migration Act 1958 (Section 292B).

You must also be registered with the Office of the Migration Agents Registration Authority (MARA) where you are bound by a Code of Conduct which stipulates that you must maintain this insurance for the period you are registered (Clause 2.3A).

BizCover understands the coverage needs of migration agents and is a recognised insurance provider by MARA and other professional associations. 

#4         Maintain a professional standard and protect your reputation

The image you portray sends an important message to your clients, and as a migration agent your reputation means everything.  Holding the appropriate insurance and level of cover will not only assist in upholding a professional standard and instil trust in your clients, it will enable you to pursue legal avenues to clear your name and defend your reputation in the case of an alleged breach of professional misconduct.

#5         Simple peace of mind

Anyone who has run a business knows that feeling of worrying about the ‘what if’s’. If your business is sued you could be personally on the hook for any liability claims, meaning your personal assets such as your home and car are also on the line.

Having the right insurance in place for your business is one of the best ways to give you peace of mind that should an unexpected disaster happen, your business will be protected.

Click here to redeem your exclusive offer to Migration Alliance members and save 38% on your Professional Indemnity Insurance, or call 1300 249 268 and quote code MABIZ001.