Mega Capital is a specialist in Professional Indemnity Insurance for Accounting firms. We have assisted a diverse range of Accounting firms, whose practices differ dramatically by:

• Revenue size;
• Mix of activities: including large components of auditing, insolvency, financial planning, corporate advisory mortgage/finance broking, etc; and
• Claims history

In addition, Mega Capital is listed by the ICAA as a broker who can assist with their members? PI insurance requirements.
A large percentage of our client base consists of Accountants. We have assisted over 15% of the BRW Top 100 Accounting Firms including numerous National practices with their PI insurance requirements.
We have seen that the level of premium and quality of policy coverage can range considerably between insurers and even within insurers.
For example:

• Average premiums for a $1m limit can range between 0.5% and 2% of revenue;
• Excesses range between $1,000 and $100,000 and may be each and every claim or each and every claimant;
• Limits of indemnity may include a reinstatement/s and may be inclusive or exclusive of costs;
• Fidelity cover may/may not be included;
• Policy endorsements may exclude claims arising out of:
  • Schemes deemed to be in breach of Part IVA of the ITA Act;
  • Mergers & acquisitions advice;
  • Business valuations and/or due diligence advice;
  • Investment Advice etc.

Therefore, it is important that you choose the RIGHT broker, one that is:

			not aligned to ONE insurer and has access to range of insurers
			a specialist in PI insurance and has a good knowledge of the Accounting industry and the requirements of the Professional Bodies
			not just a ?fax service? and willing to go into ?bat? for you

At Mega Capital, we will ensure that you begin the renewal process early, provide a comprehensive submission to the insurer(s) and that receive your quotation well in advance of the renewal date and NOT at the 11th hour..