How Protected Are You Using a Property Advisor?

From The Elephant In The Room Property Podcast | Inside Australian Real Estate Chris Bates

When you hire a property advisor, there’s an assumption built into that decision: you’re getting expertise, guidance, and some level of protection if things go wrong. But how much of that protection actually exists—and where does it break down?

In this episode, we unpack the role of Professional Indemnity (PI) insurance in property advice, and what it really tells you about accountability, risk, and the quality of advice you’re relying on.

Joining us is Polina Kesov, an insurance specialist with over two decades of experience working behind the scenes on claims, risk, and policy structures. Together, we explore the blurred line between “execution” and “advice,” why many buyer’s agents and property investment advisors may not be properly covered for the services they’re offering, and how something as simple as a policy exclusion can leave both advisors and clients exposed.

We also dive into why claims in property advice are so rare—not because everything is working, but because proving loss is complex, delayed, and often not actionable. From cookie-cutter strategies and disclaimers to the growing use of AI in advice, this episode breaks down the structural gaps that most investors never see until it’s too late.

If you’re relying on professional guidance to make high-stakes property decisions, this conversation will change how you assess risk. Because in property, it’s not just about whether the investment performs—it’s about what happens if the advice behind it doesn’t.

Episode Highlights

04:17 — Can Property Advisors Actually Get Covered?

06:01 — What Makes a Property Advice Claim Valid?

09:25 — Repeat Offenders and the Lack of Transparency

11:42 — Marketing Hype vs Where Advice Crosses the Line

16:10 — How Claims Impact Insurance Renewals

21:01 — Real Claims Against Buyer’s Agents Explained

24:55 — Why Insurers Act as Hidden Risk Partners

27:52 — How to Choose the Right PI Insurance Cover

29:58 — What a Certificate of Currency Really Tells You

31:44 — Why You Must Verify Advice Scope in Writing

33:40 — Multiple Claims: A Major Red Flag

35:45 — Licensing Gaps and Disclosure Obligations

37:57 — AI Advice: Who’s Liable When It Goes Wrong?

39:38 — What Questions Should You Ask an Advisor?

41:14 — Why Property Advice Claims Stay So Low

47:47 — SMSFs and Trusts: Where Advice Gets Risky

50:14 — Vicarious Liability: How Risk Spreads Fast

53:22 — Key Takeaways Every Investor Should Know

About the Guest

Polina Kesov is an insurance advisor with over 20 years of experience working alongside Australian businesses on risk, claims, and insurance coverage. Specialising in professional indemnity, she has a deep understanding of how advisors are assessed, insured, and held accountable when things go wrong.

Throughout her career, Polina has worked closely with professionals across the property, finance, and advisory sectors, giving her a unique, behind-the-scenes perspective on how claims are evaluated and where systems succeed—or fail. Her expertise extends beyond policy setup into real-world outcomes, including how insurers interpret liability, manage disputes, and determine whether a claim is paid.

Known for her practical, no-nonsense approach, Polina is passionate about improving awareness around risk and helping both professionals and consumers understand the fine print that often gets overlooked. Her insights offer a rare look into the mechanics of protection in the property industry—where assumptions don’t always match reality.

Connect with Polina

Resources

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If you have any questions or would like to be featured on our show, contact us at:
The Elephant in the Room Property Podcast - [email protected]
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