Damages and Fines Insurance Products

Compare 96 products offered for Damages and Fines Insurance from 39 companies including Medisure Indemnity Australia Pty Ltd, Asia Mideast Insurance and Reinsurance Pty Ltd, and Liberty International Underwriters - Australia.

Our Insurance Comparison Tool allows you to pick the policy that's right for you by displaying every Damages and Fines plan offered by Canada's leading insurance providers. If you have questions about this coverage area, check out our Frequently Asked Questions.

Compare Damages and Fines Insurance Policies

Products 1 to 10 of 96
Product name Max Coverage Min Premium Exclusions
Professional Indemnity by Procover Underwriting Agency Pty Ltd Max Coverage N/A Min Premium N/A


more details
Statutory Liability by QBE Insurance (Australia) Ltd Max Coverage N/A Min Premium N/A
  • dishonest, fraudulent, or malicious acts, or omissions
  • gross negligence or recklessness
  • wilful, intentional or deliberate breaches
  • wilful, intentional or deliberate failure to comply with any lawful notice, direction, enforcement action or proceeding under any act


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Statutory Liability and Supplementary Legal Costs by DUAL Australia Pty Ltd Max Coverage AUD20M Min Premium N/A
  • bodily injury and property damage
  • fraud
  • insured conduct
  • prior known facts
  • territorial limits


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Professional Indemnity - Valuers by Newline Australia Insurance Pty Ltd Max Coverage AUD25M Min Premium N/A


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Professional Indemnity - Real Estate Agents by Newline Australia Insurance Pty Ltd Max Coverage AUD25M Min Premium N/A
  • business broking
  • investment advice / finance / two-tier marketing
  • occupiers liability
  • valuation services


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Professional Indemnity - Miscellaneous by Newline Australia Insurance Pty Ltd Max Coverage AUD25M Min Premium N/A


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Professional Indemnity - Management Consultants by Newline Australia Insurance Pty Ltd Max Coverage AUD25M Min Premium N/A
  • any activities where the insured is required to have AFS license, but has failed to obtain one
  • hedging activities
  • insider trading
  • money laundering


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Professional Indemnity - Insurance Brokers by Newline Australia Insurance Pty Ltd Max Coverage AUD25M Min Premium N/A


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Professional Indemnity - HR and Recruitment Consultants by Newline Australia Insurance Pty Ltd Max Coverage AUD25M Min Premium N/A
  • on‐hired medical services


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Professional Indemnity - Environmental Consultants by Newline Australia Insurance Pty Ltd Max Coverage AUD25M Min Premium N/A
  • off‐site waste liability


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Frequently Asked Questions

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Can You Insure Damages And Fines?

Damages or a fine can be placed on an individual or organization either because they have breached a regulation or statute, or as a penalty after the outcome of a court case not found in their favour. As long as the investigation is not part of a criminal investigation then it is possible to cover certain penalties as long as they are allowable or insurable by law.

Who Can Insure Damages And Fines?

Any business or individual can make a mistake that can have a lasting impact. If a business suffers a cyber attack, causes an accidental impact to the environment or miscalculates a business transaction that violates a trading regulation then chances are they will be liable for a fine or penalty.

While there are insurance policies available that cover things like Professional Liability, Business Interruption or Legal Expenses, if a client faces a fine or penalty then that is a further cost to be considered.

Anyone running a business that could have a detrimental effect on another business or individual caused by their potential errors and omissions could benefit from including fines and penalties included as part of their insurance coverage.

What Does Insurance For Damages And Fines Cover?

Most standard insurance policies specifically exclude civil fines and penalties as they are normally demanded due to a criminal act. As with the insurability of punitive damages, there is no uniform view. Certain penalties are insurable, however, including acts of negligence, regulatory fines, and civil liability.

What Is Not Included In Insurance For Damages And Fines?

Any insurance policy that covers damages and fines will be very restrictive and specific. It is important to check the exact details as only a select few, not all, types of fine will be covered. However penalties to be paid for the following are almost certainly always excluded:

 

  • illegal or intentional acts
  • fraud
  • vandalism
  • price fixing
  • morally reprehensible behaviour

Can I Buy Stand-Alone Insurance For Damages And Fines?

At present it is unlikely to find a standalone product that only covers fines and penalties. However extended cover or add-ons to certain Professional Liability, Management Liability, Environmental Liability and Cyber insurance products are available. Each individual insurance policy will contain very carefully wording on what sort of fines related to their subject area are insurable.

The cost will either be included in the overall package or an amount calculated as extended cover taking into consideration the size of the company, the potential impact of a negligent act and the cost of previous similar fines awarded.