Mini Policy
At the request of CPA Australia, Fenton Green & Co. has arranged a Mini Professional Indemnity Insurance policy (Mini Policy) with ACE Australia Ltd. This policy is designed specifically for CPA Australia members who perform "Private" and/or "Honorary" services.
Please note however, that the Mini Policy provides limited cover only. You should consider the following before you decide to proceed with the product.
The Mini Policy will not cover you:
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If you promote your business to the public, or
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If you generate more than $7,500 in a year, or
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If you hold a Public Practice Certificate or a Limited Public Practice Certificate or are operating a Public Practice, or
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If you undertake any work in the following activities:
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Audit of Public Companies
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Any other work undertaken for Public Companies
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Receivership, Insolvency, and/or reconstruction services
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business valuations, mergers or acquisitions
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Financial Planning
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For run-off for any work done in a Public Practice
The Mini Policy is issued to CPA Australia to cover members who apply for this cover and are eligible. The policy starts on 31st December, and will expire on 31 December, . If a member's application is approved the cover under that policy will only commence upon receipt of the premium and will also expire on
31st December, .
The Mini Policy will only provide
$500,000 of cover for any one claim.
The Policy has an
aggregate limit of $20,000,000
for the total of all claims made against all insured members - once that limit is exhausted the Mini Policy will cease to provide any further protection to any member.
Application for this insurance can be made online by
clicking here
or by submitting the form from the brochure (additional cost involved - download below)
2011 Mini Policy Brochure
Mini Policy Wording
Pro-Bono Policy
CPA Australia has also now purchased a separate policy which covers their members against claims that result from the provision of pro-bono and/or voluntary accounting work done for community based organisations. This cover is provided by CPA Australia free to their members. CPA Australia simply asks that members who undertake any of this work "opt-in" from the CPA Australia website to record your inclusion.
Pro-Bono Policy Wording
Pro-bono & Voluntary PII FAQs December 2010
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