Important note: you must use our myCAV online system to update your insurance details. Find more information about myCAV.
You must be covered by professional indemnity insurance if you carry on a conveyancing business:
- through a company
- as a sole trader
- in partnership with other licensed conveyancers (each licensee in the partnership must take out their own cover).
If you are an employee only, you are covered by your employer's insurance only in cases where you are employed by a licensed conveyancer, not an Australian legal practitioner.
Marsh is the broker providing your conveyancers professional indemnity insurance.
You must arrange your conveyancers’ professional indemnity insurance through Marsh if you are:
- applying for a licence to conduct a conveyancing business
- renewing your conveyancers’ professional indemnity insurance.
For more information, visit the Marsh website or call 03 9603 2398.
Conveyancers must maintain a minimum of $2 million professional indemnity insurance at all times, as specified in the Ministerial Order by the Minister for Consumer Affairs.
Your conveyancers licence will be automatically suspended or cancelled if you are not covered by professional indemnity insurance.
You must notify the Business Licensing Authority immediately if your insurance lapses or is cancelled.
The Australian Institute of Conveyancers (Vic Division) manages the professional indemnity insurance policy in conjunction with Marsh and also provides support and education to assist the conveyancing profession.