FAQs

Pacific Indemnity Underwriting Solutions Pty Ltd ABN 14 606 511 639 is a boutique underwriting agency specialising in professional risk insurance products. The Australian Financial Services Licence number of Pacific Indemnity is 480863.

Launched in September 2015, Pacific Indemnity is led by Jun Acance who is one of the industry’s most respected professional risk underwriters and is widely known for his expert underwriting knowledge having led the CGU Professional Risks business unit for over 15 years and having in excess of 25 years experience with professional risk insurance. Jun is supported by a team of highly skilled and experienced underwriters.

Pacific Indemnity issue policies on behalf of:

• CGU Australia Pty Ltd (CGUA), ABN 62 004 478 960 – AFSL No: 700014.
• Zurich Australian Insurance Limited (Zurich), ABN 13 000 296 640 – AFSL No. 232507.

On 1 October 2025 via Scheme Transfer, IAG moved its Intermediated Insurance Australia (IIA) division from Insurance Australia Ltd (IAL) to a newly authorised insurer within IAG – CGU Australia Pty Ltd (CGUA).

As a result, Pacific Indemnity now issue policies on behalf of CGUA. For more details, see ‘What does the Scheme Transfer from IAL to CGUA mean?’ below.

The Scheme Transfer has enabled IAG to move its Intermediated Insurance Australia (IIA) division from Insurance Australia Ltd (IAL) to a newly authorised insurer within IAG – CGU Australia Pty Ltd (CGUA).
The IIA division manages the CGU brand.

What is the Scheme Transfer Effective date?

The Scheme Transfer took effect on 1 October 2025. Namely, this is the date when the IIA business moves across to CGUA. From 1st October 2025 CGUA has:

• Become the insurer of the transferred policies (from IAL to CGUA).
• Become the underwriting entity for the CGU brand.
• Become responsible for claims liabilities relating to the business and policies that transfer.
• Transact business under its own AFSL.

Are there any changes affecting policyholders or Agency Partners from the Scheme Transfer Effective date?

There are no impacts to policyholders – terms and cover provided by policies remain unchanged.
Claims and policies will continue to operate and be renewed in the same way. There are no changes to policy wordings, complaints handling or any other aspect of the broker or policyholder experience. The only change is that CGUA is now the insurer.
The day-to-day operations and CGU brand remain the same.

Any further questions?
If you have any questions please contact CGU direct on 1300 110 639 or email CGUALicence@iag.com.au, or you can find more information at https://www.iag.com.au/cgua-licence.

This diversification will allow Pacific Indemnity to offer an expanded product portfolio to meet the needs of our partner brokers and their clients.

This partnership provides access to general liability products.

Zurich Australian Insurance Limited is part of the Zurich Insurance Group, one of the largest public companies in the world (91st in 2017 according to Forbes).  This provides an assurance that we are partnering with a formidable company that will give us the confidence and diversity to provide the additional product of general liability. Together with Insurance Australia Group, the largest local insurer, our key strategic insurers provide assurance of strength and stability in these challenging times.

Standard & Poors have affirmed the financial strength rating of Insurance Australia Group at AA-

Pacific indemnity is led by Jun Acance who is one of the industry’s most respected professional risk underwriters and is widely known for his expert underwriting knowledge having led the CGU Professional Risks business unit for over 15 years and having in excess of 29 years experience with professional risk insurance. Jun is supported by a team of highly skilled and experienced underwriters.

Please refer to the detailed document link on our Professional Indemnity Risk Appetite and Contact List

Please refer to detailed document link on Broadform Public Products Liability Features Benefits Appetite Oct 22

For any general liability inquiries, please contact:

Rhythm Valera:  0421 773 143 or email rhythm.valera@pacificindemnity.com.au

Michael Taylor:  0401 625 997 or email michael.taylor@pacificindemnity.com.au

Persons and companies who provide advice or service of a specialised nature, whether for a fee or not, are required by law to provide that service or advice with due care and skill so as not to cause their client or a third party loss, damage or injury. If they do cause loss damage or injury then the aggrieved client or third party may make a claim to recover or be indemnified for that loss, damage or injury. Professional Indemnity insurance provides cover to pay any such claims on behalf of the insured. In addition, the insurance will provide cover for legal and other costs incurred in investigating and defending such claims.

A Claims Made policy is a form of insurance contract which only covers claims made against the insured during the policy period arising from facts that were first discovered by the insured in that policy period. The claim may arise from acts, errors or omissions at any time (subject to any retroactive cover limitations). If the insured first becomes aware during the policy period of facts that might give rise to a claim – then the insured may notify the insurer (pursuant to Section 40(3) of the insurance Contracts Act) and any claim which eventuates from the facts so notified will also be covered under the policy which is in force at the time of notification, notwithstanding that the claim was not made during the policy period.

Most insurance policies covering liability (whether a public liability policy or other form of liability policy) will provide cover for claims arising out of events occurring during the policy period.

A Claims Made policy is different in that the date of the event is not relevant (except if retroactive cover is limited) – what is important is when the insured first became aware of the claim or the facts which might give rise to the claim.

Claims Made policies will typically exclude cover for claims arising from ‘known claim circumstances’ as at the policy inception. If an insured does not notify a claim during the period of the policy in force at the date of the claim, then cover under that policy may be in question. Any subsequent policy will typically exclude cover for that claim.

A failure to disclose known claims to a new insurer is likely to have several consequences. Firstly cover under the expiring policy for that claim will not be triggered if that claim is not notified to the expiring insurer before policy expiry; secondly, an insured has a duty of disclosure to the new insurer. A breach of that duty of disclosure may have negative consequences for cover under the new policy. As a minimum that claim will be excluded from cover under the new policy by reason of the known claims and circumstances exclusion.

A Professional Indemnity (PI) policy written on a Claims Made basis only covers claims first made during the policy period and claims arising from facts first discovered and notified during the policy period. Once a policy expires no new claims can be made on that policy notwithstanding that the work giving rise to the claim may have occurred during the policy period. Any claims made after the policy expiry will not be covered if a policy is not then current. Accordingly, if you don’t renew your policy you will not be covered if a claim then is made arising from work done in the past. This is particularly important to note if you are no longer in business, you may like to enquire about obtaining run-off cover.

A Civil Liability is a liability one party has to another party arising under the civil law as opposed to the criminal law or statutory law – although some statutes give rise to civil liability – particularly related to consumer protection. Typically civil liability results in claims for compensation.

Continuous cover is in effect a loyalty bonus – so that if an insured first becomes aware of facts that might give rise to a future claim in one policy period but fails to notify that to the insurer then so long as the insured renews cover with the same insurer (without any hiatus in cover) then (subject to the terms of the continuous cover clause in that policy wording) the insurer will not apply the known circumstances exclusion in the policy in which the claim was notified. The insured will be entitled to cover under the later policy subject to qualifications – such as the limit and scope of cover not being more than under the policy in force at the time the claim could have been originally notified – and possibly cover being potentially reduced due to any prejudice suffered by the insurer arising from the delayed notification.

If the excess is inclusive of costs – the excess will be required to be paid towards costs and expenses incurred in investigating and defending claims.

If the excess is costs exclusive the excess will only be required to be paid when a claim settlement payment is made.

If the limit is inclusive of costs then investigation and defence costs are not covered in addition to the policy limit.

A Costs Inclusive limit is therefore more restrictive than a costs exclusive policy limit.

The policy limit is typically an aggregate limit. The policy will typically have a limit any one claim (which is the policy limit) and any number of smaller claims can be covered up to the amount of the policy limit. The policy may be subject to a reinstatement or a higher aggregate limit – which may define how many policy limit amounts the policy will cover in the aggregate.

A reinstatement is a multiple of the policy limit (typically one) for unrelated claims. Subject to the policy wording, a reinstatement may be triggered after the first claim.

An aggregate limit is the limit in aggregate for all claims in the policy period. It may be equal to the policy limit (equivalent to no reinstatement) of more typically may be multiples of the policy limit – equivalent to number of reinstatements.

The policy will cover claims made arising from acts, errors or omissions which may have been made before the policy period. If there is no retroactive date then typically there is no limitation on retroactive cover. If a retroactive date is specified then claims will only be covered if they arise out of acts, errors or omissions after that specified retroactive date.

Only our partner brokers can be issued with a username and password to utilise the Broker Portals to obtain quotes for Professional Indemnity and Broadform Public & Products Liability.

If you are a partner broker requiring a login, please speak to your underwriting contact or email us at admin@pacificindemnity.com.au

Don’t know about the Broker Portal? Please have a look at this document to see how it works:

• Welcome to the Pacific Indemnity Broker Portal

Click the FORGOT PASSWORD link on the Login page to go to the ‘reset password’ page.

Enter the details (please enter your email) and click ‘submit’. An email containing a link to reset and create a new password will be sent.

What steps can I take if I am experiencing financial hardship?

We offer support for those experiencing financial hardship.

If you are experiencing financial hardship or having difficulty in making any payments related to your insurance policy, we may be able to assist you.

You can find details of our Financial Hardship Policy here. Please print and complete.

If you would like to discuss your situation, you can contact us on 03 9042 3506.

Please submit your Statement as to Property and Means to claims@pacificindemnity.com.au.

You can contact the National Debt Helpline on 1800 007 007 for free financial advice and counselling.