One of many licence conditions, real estate and business agents are required to hold professional indemnity insurance cover to protect for claims made against us relating to acts or omissions committed in our professional capacity.
We choose to insure our business with Aon. Our insurance covers all states where we do business.
In addition to professional indemnity insurance, we contribute to the Property Services Compensation Fund, which was set up by NSW Fair Trading, to assist people who are out of pocket because an agent has failed to account for money held in statutory trust accounts.
Our contribution is a requirement of our responsibilities under compliance.