Mortgage and Finance Brokers Professional Indemnity
Finance Insurance
AUD 750 /year
AUD 5M
AUD 500
All States
No
- Crime
- Professional Indemnity
- Statutory Liability
- licensed credit representatives including mortgage broking
- finance broking
- mortgage administration
- leasing and hire purchase
- chattel
Product Overview
Mortgage and Finance Brokers Professional Indemnity by ProRisk Underwriting Pty Ltd sits in ProRisk’s specialist professional indemnity suite for finance professionals. It is built for licensed credit representatives who work in mortgage broking, finance broking, mortgage administration, leasing, hire purchase, and chattel business.
The policy brings together professional indemnity cover with crime and statutory liability sections in one package. This structure helps brokers manage advice, fraud, and regulatory exposures under a single program, subject to the policy terms.
About Mortgage and Finance Brokers Professional Indemnity by ProRisk Underwriting Pty Ltd
Cover limits of up to AUD 5 million are available, with a starting excess of AUD 500 shown on the product listing. It has a minimum annual cost from around AUD 750, giving brokers a rough entry point.
The product is listed as available in all Australian states with no separate broker contract requirement. Brokers can move from the product page into ProRisk’s ProBind quote‑and‑bind platform or reach out to the named ProRisk contact.
ProRisk highlights extra support services across its policies, such as legal and contract assistance available from day one. Brokers who want to explore this cover further can use the ‘Contact Underwriter for Quote’ option or follow the product document links.
Mortgage and Finance Brokers Professional Indemnity by ProRisk Underwriting Pty Ltd FAQs
What professional services can typically be supported by this policy structure?
ProRisk’s wider professional indemnity wordings focus on organisations that provide design, advice, specification, or supervision services.
Within that, Mortgage and Finance Brokers Professional Indemnity by ProRisk Underwriting Pty Ltd targets licensed credit representatives in mortgage, finance, and leasing, hire purchase and chattel work.
Is Mortgage and Finance Brokers Professional Indemnity by ProRisk Underwriting Pty Ltd suitable for small and growing practices?
The IB Markets listing shows a minimum annual cost from around AUD 750 and limits up to AUD 5 million.
This range can fit smaller broker firms starting out, as well as growing practices that need higher professional indemnity and liability limits.
How does this cover relate to regulatory expectations on credit representatives?
Mortgage and Finance Brokers Professional Indemnity by ProRisk Underwriting Pty Ltd is described as designed to meet the needs of mortgage and finance brokers acting as licensed credit representatives.
ProRisk also notes that professional indemnity insurance is required by law for some professions and sometimes required by contract with clients.
What cover sections are highlighted for Mortgage and Finance Brokers Professional Indemnity by ProRisk Underwriting Pty Ltd?
The product lists three cover sections for this policy under Coverage.
These are crime, professional indemnity, and statutory liability, which together address crime‑related exposures, advice and service risks, and certain statutory obligations. This mix supports the Finance Insurance line of business, and readers can explore the broader finance insurance context on the category guide.
What extra services may be available alongside this professional indemnity cover?
Mortgage and Finance Brokers Professional Indemnity by ProRisk Underwriting Pty Ltd comes with additional support services from the start of cover.
These services include whistleblower hotlines, contract reviews, complimentary legal advice, and privacy policy updates, which sit alongside the core professional indemnity protection.
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