Professional indemnity insurance By-Law requirements

Minimum professional indemnity insurance (PII) requirements under CPA Australia’s By-Laws:

  • minimum of $2 million in PII cover for members in mainland Australia and $1 million for members located elsewhere
  • provision for multiple automatic reinstatement following a claim
  • provision for an excess for each and every claim
  • cover for losses arising out of dishonesty (fidelity cover)
  • indemnity for all of the Public Accounting Services that you provide
  • unlimited retroactive cover
  • cover for everyone affiliated with the practice 
  • provision for run-off cover

A detailed explanation of the above can be found in Managing your risks with insurance (PDF).

CPA Professional indemnity insurance offer

PII is mandatory for all CPA Australia Public Practice Certificate holders, as well as other members providing public, honorary or private accounting services, whether paid or unpaid.

Other insurance

Claims examples