The Risk Advisory hub is the leading insurance advisory firm for financial planning businesses in Australia. We have an in-depth understanding of RG126 requirements and the insurers who can provide a compliant Professional Indemnity (PI) policy. Our team has experience servicing numerous AFSL licensees and has been able to secure and place PI insurance (up to a $20M limit) for hard-to-place risks. Our sweet spot is businesses with under 200 non-employed/employed Authorised Representatives (ARs).
In the post-royal commission regulatory environment, the insurance market has become increasingly challenging, with hard market conditions making it more difficult for businesses to secure the coverage they need. At The Risk Advisory hub, we have the expertise and experience to navigate these challenging conditions and help our clients find the right insurance solutions. In many instances, we have secured reduced premiums, despite the general trend of the market. We pride ourselves on securing exceptional results which instils trust and allows us to maintain long standing relationships with our clients.
Financial planning firms can rely on us to provide the right insurance coverage and expert support to handle complex claims, even in the current challenging market conditions. Contact us today to learn more about how we can help protect your business.
As AFSL Licensees, your Professional Indemnity insurance requirements are determined by the Corporations Act 2001. The minimum requirements are a limit of $2,000,000 excluding legal costs, meaning that legal costs are in addition to the limit. This limit may need to be increased as per ASIC Guidelines, depending on the turnover of your business. Prior to placing a policy, we will carefully consider the policy terms, in the context of your business operations, to ensure it is compliant with RG126 requirements.
Please get in touch to discuss your business and commercial insurance requirements or for a free, no obligation quote.