Professional Indemnity Insurance & PAMDA: Business Brokers
Under the PAMD Act is it a requirement that real estate agents carry PI insurance?
No. The PAMD Act provides for the ability to prescribe insurance under the regulations. However, no insurance is prescribed for real estate agents in Queensland. That being said, prudent business practice is to obtain professional indenity insurance to cover for business broker negligence.
Joe Kafrouni, Legal Practitioner Director, Kafrouni Lawyers
Disclaimer
The information provided by Kafrouni Lawyers is intended to provide general information and is not legal advice or a substitute for it. Business people should always consult their own legal advisors to discuss their particular circumstances. Kafrouni Lawyers makes no warranties or representations regarding the information and exclude any liability which may arise as a result of the use of this information. This information is the copyright of Kafrouni Lawyers.
Liability limited by a scheme approved under professional standards legislation.
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