Knowledge Centre

Professional Indemnity Insurance  

Professional Indemnity (PI) Insurance cover is included as a complimentary reward for all Chartered Business Accountants in Practice (CBAP) designation holders in good standing, subject to specific criteria being met. The conditions and requirements are set by the external service provider, as CIBA is not a Financial Service Provider. CIBA will refer all PI Insurance matters to the appointed insurance broker.

Any CBAP designation holder that holds an additional specialist license with CIBA will automatically have specialist insurance included into their PI Cover. If a CBAP performs specialist services without a CIBA license, their professional liability will not include the specialised service.

Do I qualify for PI Insurance?

To qualify for this reward CBAPs need to comply with the following:

  • Ensure that renewal invoices are paid in full either:

    • Within 7 days of the invoice date, or

    • A debit order arrangement was signed up for to settle the invoice within 3 months from the invoice issued date (1 July renewals debit orders should be settled on/before 30 September and 1 Jan renewals on/before 31 March).

  • Submitted their annual NOCLAR Declaration

  • Submitted their annual CPD Declaration

  • Submitted their FIC Declaration

  • CPD compliant as per the CIBA’s CPD Policy

  • Does not have any pending disciplinary investigations against them or have been found guilty of misconduct

  • Have completed and submitted their insurance questionnaire, and such questionnaire has been received by the appointed insurance broker.

How To Activate Your PI Insurance

  1. Log into your cpd@myciba membership profile

  2. Scroll to My Rewards and click on Reward Partners

  3. Scroll to the PI Insurance Service Provider and select the Interest Form

  4. Complete the insurance questionnaire that opens

  5. The membership team will review the completed forms and forward the approved ones to First Equity

  6. First Equity will send a PI Policy Schedule back to CIBA, which will then be uploaded to My Rewards, under the heading My Professional Indemnity Insurance

    If you submitted the insurance questionnaire but do not receive a PI Policy Schedule within 5 business days, you must contact support@myciba.org and follow-up.

How to view your PI Insurance letter

  1. Login to the Membership system

  2. Select My Rewards

  3. Click on My Professional Indemnity Insurance

  4. Select the View button next to the PI Policy document.

Renew your PI Insurance annually

  1. Renew your CIBA membership and

  2. Comply with the qualifying criteria.

If your membership has been suspended or terminated, for whatever reason, your PI insurance cover will be suspended for the duration of the suspension of your membership or terminated, as the case may be.

CIBA regularly communicates with members regarding changes to the membership value proposition and associated rewards. Please ensure your contact details on your membership people remain accurate and up to date to ensure you don’t miss out on essential tools made available to you. PI Insurance is subject to conditions listed in CIBA’s Terms and Conditions.

Need Help?

Any assistance required for technical enquiries, membership related queries, access to the system you need to log into your member profile and:

  1. Submit a support ticket