Professional indemnity, management liability and cyber cover options for virtual and fractional CFOs providing financial leadership to Australian businesses. Talk to a specialist broker.
Tell us a little about your business and we’ll be in touch to discuss your insurance requirements.
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As a virtual or fractional CFO, you’re often providing the kind of high-level financial advice and decision-making that boards, investors and lenders rely on directly, not as a peripheral service. Sol Insurance Brokers can help you explore cover options that reflect the real weight of that responsibility.
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Is designed to help protect you against claims arising from an error, omission or alleged negligence in the financial advice, forecasting or reporting you provide, including where that advice is relied upon by boards, investors or lenders, subject to policy terms.
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Can help cover the costs of defending claims relating to your management decisions, statutory liability or employment-related disputes arising from your role, subject to policy terms.
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Can help cover the costs following a data breach, hacked account or ransomware event affecting the financial systems and records you manage, subject to policy terms.
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Can help cover your laptop and other portable work equipment against risks such as theft or accidental damage, subject to policy terms.
Depending on your business and circumstances, additional covers may include, but are not limited to, Business Interruption, Personal Accident & Illness and Workers Compensation, where relevant and subject to policy terms, conditions and exclusions.
Financial forecasts or cash flow projections that turn out to be materially wrong, leading a client to make a costly decision
A misstatement or omission in financial reporting relied on by a board, investor or lender
Advice given on a capital raise, financing arrangement or M&A transaction falling outside your policy's scope
A cyberattack or unauthorised access affecting the financial systems and records you manage for a client
Confidential financial information being disclosed to the wrong recipient
Being named in a dispute where a board or investor claims financial loss from a decision you were involved in
Important: The information provided on this page is general in nature and does not take into account your individual circumstances. Insurance cover, terms, conditions and exclusions vary between insurers and policies. Your insurance requirements will depend on your business activities, contracts, assets and individual circumstances. Please refer to the relevant policy wording and documentation for full details of cover. The risks listed above are general examples only, for illustrative purposes, and do not confirm that your individual policy will respond to any particular claim.
It depends on your engagement structure. If you’re providing advice independently, or your decisions carry executive-level weight, liability can sit with you personally as well as the practice you’re engaged through. We can help you understand where your own cover may be needed.
Many professional indemnity policies contain specific exclusions for mergers, acquisitions and financing activities. Since virtual and fractional CFOs increasingly work in this area, it’s worth checking your policy wording carefully, we can help you find a policy that reflects the full scope of your work.
Professional indemnity generally responds to claims about the advice or services you provide, while management liability generally responds to claims about your conduct as a decision-maker, such as employment disputes or regulatory action. Many virtual CFOs carry both.
It can. Policies are usually written around your declared scope of work and client base, so it’s worth telling your broker about all the engagements you hold so your policy limits and terms reflect your actual exposure.
Portable equipment cover can generally include your laptop and related equipment against theft or accidental damage while you’re working from different locations, subject to policy terms and any security conditions.
Tell us a bit about your business and one of our brokers will be in touch.
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