Professional indemnity, cyber liability, and trust account fraud cover for Queensland solicitors and law firms who know that a claim doesn't need to have merit to be expensive.
These are the exposures that regularly catch Lawyers & Law Firms off guard — often because they weren't on anyone's radar until a claim was already underway.
Statute of limitations failures, missed court filing deadlines, and overlooked conditions precedent are among the most common PI claims against solicitors. The consequences of a missed deadline are often catastrophic for the client — and the claim flows directly to you.
A client who suffers a financial loss following your legal advice — whether on property transactions, commercial agreements, estate planning, or litigation strategy — may attribute it to an error or omission in your work. The cost of defending a claim is significant, regardless of whether it succeeds.
Solicitor trust accounts are high-value targets. Fraudulent payment redirection, internal misappropriation, and impersonation scams targeting trust account transfers have resulted in material losses for Queensland law firms. PI alone does not cover trust account fraud.
Law firms hold highly confidential client information — privileged communications, commercial contracts, personal records, and litigation strategy. A data breach or ransomware attack creates both regulatory exposure and third-party claims risk that a standard PI policy doesn't address.
PI claims can arrive years after the work was done. Without run-off cover when a firm dissolves or a sole practitioner retires, prior work is exposed. Queensland Law Society requirements govern minimum run-off periods — but the actual exposure often extends beyond them.
A complaint to the Queensland Law Society, Legal Services Commission, or disciplinary body can generate significant investigation costs before any formal claim is made. Not all PI policies provide adequate coverage for regulatory proceedings — the policy wording matters.
The insurance products most relevant for Lawyers & Law Firms — placed through insurers we deal with regularly.
Compulsory for Queensland solicitors. Covers claims arising from errors, omissions, or breaches of professional duty in the provision of legal services — including defence costs, settlements, and regulatory proceedings.
Covers the firm's own costs and third-party liability arising from a data breach, ransomware attack, or system compromise. Includes notification costs, forensic investigation, and regulatory response.
Covers direct financial losses from employee fraud, trust account misappropriation, and social engineering attacks targeting payment redirection. PI does not cover these exposures.
Protects partners and directors from personal liability arising from decisions made in running the firm — including employment claims, regulatory action, and statutory obligations.
Three reasons to consider using a broker rather than buying direct.
We discuss QLS minimum requirements with you, and whether those minimums are adequate for your firm's risk profile, client base and the nature of work you undertake.
PI, cyber and crime are three separate but closely related exposures for law firms. We discuss how the policies fit together, so you understand where gaps may sit.
Firm dissolution, retirement and changes in practice structure all create run-off considerations. We raise these early, rather than when the pressure is already on.
Tell us about your situation and a broker will come back to you — no jargon, no pressure, no obligation.
General advice warning: any advice we provide is general in nature and does not take into account your objectives, financial situation or needs. Before acting on it, consider whether it is appropriate for you and read the relevant Product Disclosure Statement and our Financial Services Guide.
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