Insurables — Australian business risk, sourced and dated

Conveyancers: professional indemnity requirements in New South Wales

Cover for legal liability arising from professional advice or services, written on a claims-made basis.

Data as at

Verified for New South Wales

  • Licence liability condition: Yes. The Conveyancers Licensing Act 2003 (NSW) provides that "it is a condition of a licence that the holder be insured as required by any such regulations", so professional indemnity cover is a licence condition rather than a commercial choice. The amount and terms are set by regulation rather than in the Act itself, and should be checked against the current regulation rather than assumed. NSW · effective 2006-12-15 NSW Fair Trading · 2026-08-24
  • Licence evidence required: At licence application and at renewal. Evidence takes the form of a certificate of currency in the licence holder's name, or in the name of the employer where the conveyancer works for a licensed firm rather than on their own account. NSW · effective 2006-12-15 NSW Fair Trading · 2026-08-24
  • Licensing body: NSW Fair Trading, under the Conveyancers Licensing Act 2003 (NSW). A conveyancer's licence authorises certain legal work on property transactions — the sale or lease of land, the sale of a business, the grant of a mortgage or other charge on property — without the holder being an admitted lawyer. NSW · effective 2006-12-15 NSW Fair Trading · 2026-08-24

What contracts commonly ask for

Principals and head contractors set their own insurance requirements, and those are frequently higher than a licence condition. The requirement that binds is the higher of the two, and both have to be read from the actual document.

What this cover costs

This site publishes no cost benchmark for this cover. A benchmark needs a real sample of documents, and none is published until the sample is large enough to compute a median honestly. A benchmark from a handful of policies is a guess with a decimal point.

Sources