Professional Indemnity Insurance for Tax Agents

The Tax Practitioners Board (TPB) requires all Australian Tax agents and BAS agents to purchase a minimal level of Professional Indemnity Insurance based on annual turnover.

The table below specifies the minimum level of cover required:

Annual Turnover Minimum amount of cover required
Up to $75,000 $250,000 cover inclusive of legal and defence costs
$75,001-$500,000 $500,000 cover inclusive of legal and defence cost
Over $500,000 $1,000,000 cover inclusive of legal and defence costs

Underwriting Question...

Do you provide services to Publicly Listed Companies or Financial Institutions?
If the answer is "YES", we need a separate proposal form completed and submitted for individual rating.
Accountants Proposal

To Proceed with Quote

To start cover we need your details completed in the form below. No cover is in place until this form has been accepted by the insurer. If you require a "Certificate of Currency" we will also need your full payment or an instalment payment.

If you prefer to talk to a broker first, call 1300-881-779 between 8.15am - 5.15pm EST business days.

Step 1.

 

Step 2.

Annual Fee Income **



  Over $300,000 - Please Complete: Accountants Proposal

Step 3.


or

Proceed with Cover...

Visa    MasterCard

Cardholders Name

Credit Card No.

Select Expiration Date:
   

We will email you a receipted tax invoice and "Certificate of Currency".

NOTE: Processing is only done through business hours. Cover is not in place until this form is received and accepted by our office.

Insured Details...

Insured Name:

Trading Name:


ABN No.(if applicable):

Full Address:

Email Address:


Website Address (if applicable):


Telephone No:

 

Professional Duties

Percentage (must add up to 100%)

Tax Agents  %
Bookkeeping Services  %
Other Activities *  %
* If other activities, then your premium will need to be manually rated.

 

Do you provide any services to Publicly Listed Companies or Financial Institutions?
Yes    No

 

Underwriting questions

No. of people in the business  

 

Gross Revenue - last year   If Nil, put in "0"

  Australia

  Elsewhere

Estimated for next year   If Nil, put in "0"

  Australia

  Elsewhere

 

Insured's History

Has any Claim been made, or has any civil liability been alleged in the last ten (10) years against the business or any of their predecessors in business or any prior practice of any of their present or former Partners, Principals or Directors, or have circumstances been notified to insurers that might give rise to a claim
Yes    No

Is anyone in the business aware of any CIRCUMSTANCES which may give rise to a claim against this business?
Yes    No

Have you (or any person receiving cover under this policy) ever:

  • been refused this type of insurance or had similar insurance cancelled, or had an application of renewal declined, or had special terms imposed?
  • been subject to disciplinary proceedings for professional misconduct?
  • been declared bankrupt?
  • been the subject of administration proceedings?
  • been convicted of any criminal offence (other than minor traffic convictions)?
Yes    No

 

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Declaration...
By submitting this Declaration, the Applicant acknowledges:
  • they are authorised by each of the other Applicants to make this Declaration,
  • the contents of the Declaration are true and complete,
  • they are under a continuing obligation to immediately inform the Insurer of any change in the particulars or statements contained in this Declaration or in the accompanying documents up until the contract is entered into,
  • that no cover is in place until this form is accepted by the insurer

Name of person making this declaration:



Duty of Disclosure - What you must tell us
Under the Insurance Contracts Act 1984 (the Act), you have a Duty of Disclosure. You are required before you enter into, renew, vary, extend or reinstate your Policy, to tell us everything you know and that a reasonable person in the circumstances could be expected to know, is a matter that is relevant to our decision whether to insure you, and anyone else to be insured under the Policy, and if so, on what terms.
  • You do not have to tell us about any matter
  • that diminishes the risk
  • that is of common knowledge
  • that we know or should know in the ordinary course of our business as an insurer, or
  • which we indicate we do not want to know.
  • If you do not tell us
If you do not comply with your Duty of Disclosure we may reduce or refuse to pay a claim or cancel your Policy. If your non-disclosure is fraudulent we may treat this Policy as never having worked.