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InterPrac Insurance

Professional Indemnity Insurance

InterPrac, in conjunction with the NTAA and an Australian owned insurance brokerage firm, has developed a leading edge Professional Indemnity Insurance Policy for its members.

The policy comes out of years of research, development and negotiation with underwriters and insurers by the team at NTAA and InterPrac. The policy is now managed by InterPrac General Insurance and by no other affiliation. InterPrac General Insurance continue to monitor the claims ensuring comprehensive and competitive cover to protect accountants.

Protect Your Ability To Advise

Over three years ago, we introduced an NTAA endorsed PI insurance policy for our members.  We believe that it has directly assisted in the reduction of the cost of PI cover. In an ongoing effort to provide you with the very best cover, we continue to negotiate newer and better endorsements and exclusions for the policy.

Insurance Renewal

If you still prefer to do it manually, please download the proposal form from our website, complete it and fax it to us on 1300 369 312. If you have already completed a proposal for another PI provider, fax it to us on 1300 369 312 and we can offer you a quote.

How do I know if I am covered under the NTAA Scheme?

You are covered under the NTAA Professional Indemnity Insurance Scheme if you are insured with an insurance broker.

We have received comments from members regarding concerns that they may not be covered under the NTAA Policy if they have a claim that relates to a previous insurance period. This is factually incorrect. Our new policy covers claims arising out of work undertaken in any previous policy period just as long as a current policy is in place and all previously known claims or circumstances that could give rise to a claim have been notified.

Strength in Numbers

The more NTAA members that join the scheme, the greater will be our purchasing power with the chosen insurers. Increased membership of the scheme has already resulted in a reduction in premiums and we are presently working on a wider product range for NTAA members.
We would like to encourage you to try our service, compare our policy and pricing, knowing that your association is working to provide you with the best policy at the most competitive price.

The NTAA Professional Indemnity Policy includes:

• Part IVA cover as standard;
• Single excess applies to multiple claims arising from same originating cause;
• Continuity of Cover & Retroactive Date – unlimited, excluding known claims and circumstances;
• Legal and Defence Costs in addition to your limit of indemnity (this is a major benefit and one that most other policies do not offer);
• Automatic Fidelity cover for $250,000;
• Unlimited Reinstatements of the Limit of Liability;
• Cover for Audit activities provided as standard;
• Automatic extension for Australian Auditing standards;
• Cover for newly created & acquired subsidiaries;
• CPA, NIA and ICAA recognised;
• Cover for Prior Corporate Entities
• Joint Venture Liability;
• Lost Documents covered as standard;
• Underwritten by Lloyd’s of London; and
• Low rate and low excess.

We hope you will give us your support so we can continue to try to bring you the very best in PI cover and continue to apply downward pressure on the cost.

Call 1800 086 666 for a quote.