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Professional Indemnity Insurance for BAS Agents/Self Employed Bookkeepers

AAT Australia is pleased to announce the introduction of a new professional indemnity insurance program for members. This follows a comprehensive review resulting in significant premium savings, improved cover terms and increased scope of risk coverage.

Our new insurance broking partner is Focus Insurance Brokers and the policy is underwritten by well-known insurer AIG.

New premium rates are as follows:

Indemnity Limit -
Professional Indemnity (PI)
  Fee Income:   Premiums (Includes all charges and GST)*   Optional packaged PI and Public Liability (Indemnity limit $10M)




  $0 - $100,000   $235   $470




  $100,001 - $250,000   $285   $530




  $250,001 - $500,000   $330   $575

*Small variations may occur in premium cost due to different state stamp duty charges



This policy automatically covers the following Professional Services:

  • Bookkeeping services, including payroll processing and record-keeping services;
  • BAS Services
  • Training and education on computer accounting software packages
  • Payroll consultancy services including but not limited to non-legal advice on award wages, individual contracts and enterprise bargaining agreements, provided always that such advice is given by duly registered and qualified BAS Agents.


Bookkeepers whose gross fee billings exceed $500,000 can apply for the insurance and premiums will be subject to individual negotiation.

You can apply for the new cover online or call 03 9595 0224. You will receive a quotation within 24 hours of submitting your application and your policy documentation will be issued within 24 hours of making payment.

The new AAT Australia professional insurance cover exceeds the Tax Practitioners Board standards for the mandatory insurance required for registered BAS agents under the legislation.


The new program includes the following benefits:

  • The new cover is available now to first time Member purchasers or holders of a current professional indemnity policy.
  • Unlimited retroactive cover. This means that the policy will cover claims arising from all past BAS Agent / bookkeeping services.
  • Individual $1,000,000 limits of liability and options for higher limits are available.
  • Legal defence costs are paid in addition to the indemnity limit. In the event of a claim where the limit is $1M, the insured has in addition, a like amount for legal costs associated with finalising the claim.
  • The policy provides for two automatic reinstatements of the limit of liability. In the event of a claim exhausting the initial limit of $1million the amount is reinstated up to 2 times to cover any subsequent claims which may arise during the period of insurance i.e $3,000,000 in the aggregate for damages claims and the same amount for legal costs.
  • The policy offers a civil liability coverage and is designed to cover a claim arising as a result of breach of professional duty committed by the insured or any contractor appointed and working for the insured but does not cover the contractor themselves.
  • The previous $0 -$75,000 income band has increased to $100,000. Members whose income have been in excess of or will increase to a level above $75,000 can access a lower premium. Higher income bands to $250,000 and $500,000 have also been introduced.
  • Cover for claims arising from loss of documents, including electronic data and the cost of restoring or replacing lost data.
  • Cover for claims arising from breach of privacy or confidentiality
  • Inquiry costs up to $100,000 for  legal and defence costs in relation to inquires under the disciplinary rules of a professional body to which the insured is a member, coronial inquiry, or royal commission
  • Fidelity cover up to $50,000 due to fraudulent or dishonest acts or omissions by employees  (excludes sole traders)
  • Free run-off cover post retirement when you have been insured under the program for two or more years. This saves you having to purchase a policy to cover potential new claims arising from work performed prior to your retirement.  You must apply for this cover in writing.
  • Lower excess in the event of a claim - $250 – payable only in the event that compensation is paid. The excess does not apply to legal defence costs and expenses.
  • Optional public liability insurance cover up to $20M is also available at very competitive premium rates.


Cover may be extended to cover other activities that fall outside BAS agent / bookkeeping service i.e. management consulting, HR consulting, etc. Extension of the cover is subject to application, quotation and approval by the insurer.

AAT Australia Affiliates who are or intend to be registered BAS agents can access the policy subject to certain conditions.

Should you require the policy document it will be sent to you with the insurance quotation following the completion of your online application.

For all policy enquiries, please contact Focus Insurance Brokers on 03 9595 0224 or email david@focusinsurance.com.au.

We encourage all members to take advantage of our new professional indemnity insurance program.





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