Focus Insurance Brokers can arrange on behalf of registered migration agents the following insurance cover:
- Professional Indemnity Insurance
- Public Liability Insurance
- Property Insurance
- Management Liability Insurance
- Personal Accident and Sickness Insurance
Professional Indemnity Insurance
Migration Agents practicing under Australian jurisdiction must be registered with the Office of the Migration Agents Registration Authority.
Registered Migration Agents are bound by a Code of Conduct and are required to have an in-depth knowledge of Australian migration law and procedure and meet high professional and ethical standards.
The Office of the MARA regulates Australia’s registered migration agents to:
- ensure that clients receive high quality immigration assistance, and
- protect the interests of people receiving immigration assistance.
A mandatory requirement of registration is Professional Indemnity Insurance. This is noted under Section 292B of the Migration Act 1958. Migration agents should also be aware that from 1 January 2012 clause 2.3A of the Code of Conduct was amended to require registered migration agents to hold professional indemnity insurance for the period of their registration.
Regulation 6B of the Migration Agents Regulations 1998 prescribes the following:
1. Subject to subregulation (2), for subsection 292B(1) of the Act, professional indemnity insurance for at least $250,000:
a. held by an individual; or
b. held by an organisation of which the individual is a director, employee or member; is prescribed.
2. An individual is taken to have complied with subregulation (1) if he or she:
i. a member or employee of a partnership; or
ii. a director or employee of an incorporated legal practice; or
iii. a sole legal practitioner or an employee of a sole legal practitioner; and
b. has satisfied the Authority that he or she has a current legal practising certificate.
Whilst $250,000 is the minimum cover required, we recommend migration agents consider a higher level of cover.
Focus Insurance Brokers can arrange on your behalf a professional indemnity policy that has been tailored to meet the requirements of the Migration Act and the specific risk profile of a migration agent. Policy benefits include:
- Cover for claims made under common law
- Cover for MARA complaints / enquiries
- Cover for breach of contract
- Cover for breach of privacy / confidentiality
- Cover for allegations that your actions caused a third party financial loss
- Nil excess in the event of a claim
- Competitive premiums
- Legal defence costs will be paid in addition to your selected level of cover
To obtain a professional indemnity insurance quotation, please complete the form below.