It is essential for anyone working in the health, aged care and community sectors – especially those who work with vulnerable people. Indemnity insurance provides protection for you against claims for breach of professional duty because of a negligent act, error or omission relating to your work. Defamation and libel. The policy covers members who work in the private sector then work in the public sector or vice versa, providing they remain a financial member of the union and are employees working in occupations which fall within the coverage of the HSU. Professional Indemnity Insurance (PII) is a form of liability insurance that protects you at work. Known circumstances of existing claims against members. Get representation and support from those who know your workplace rights. HSU officials visit workplaces regularly to provide support and assistance to members. If you become unfinancial you will not be covered any longer by the Professional Liability Insurance policy. Professional Indemnity insurance works in a similar way to other third-party insurance products. The HSU continues to protect financial members by purchasing a Professional Liability Insurance policy on their behalf. Members who also work for themselves “part time – private practice work” in addition to their usual employment are also automatically insured for Professional Liability Insurance provided that the member’s additional income earned from their own “part time – private practice work” does not exceed $75,000 per annum, any one financial year. All financial members are covered by the HSUWA’s professional indemnity insurance of $20 million for any one claim (and $80 million aggregate in any one policy year)*. Unintentional breach of copyright and/or confidentiality. These can be costly and disruptive to a business to defend and compensate for, all of which the business may not have the financial resource to fund. Does the policy cover members who work in both the public and private sector where they have different employers? Professional Indemnity insurance – also known as PI insurance or PII – is intended to protect professionals and their businesses in the event of claims made by a client (or third party) suggesting that they have suffered loss as a result of non-performance, breach of contract and/or professional negligence in the services provided. Why you need professional indemnity insurance. Take a look at some of the examples below . This normally arises as the result of any actual or alleged negligent acts, errors or omissions and can be both in respect of a professional practice, a professional appointment or an individual project. Background: Professional Indemnity for Construction. Professional Indemnity Insurance - At Zensurance we simplify the process of getting professional indemnity insurance. With Provide, you save up to 25% on your annual premiums. HSU members shall give notice in writing or by email to Marsh and the HSU as soon reasonably practicable of every Occurrence, and shall forward to the Insurer all information relevant to such Occurrences that the Insurer may reasonably require, in particular every demand, writ, summons, proceeding, impending prosecution, inquest. Your browsing experience may be affected by not having the most up to date version. The overall maximum aggregate limit of all claims for any one period of insurance is $80,000,000. Such loses are not covered by a general liability insurance policy. Join today and stand with over 43,000 workers in health, ambulance, aged care, disability care, and private health! The HSU and its employees cannot provide financial advice or advice on your insurance needs to you. © 2021 HSU New South Wales Branch. The sum insured is $20 million (and $80 million in any one policy year)*. Professional indemnity policies are issued on “claims made basis” which stipulates that all known circumstances must be reported to the insurer during the policy period. It indemnifies the professional liability of the insured for only the claims made during the policy period on account of covered malpractices, negligence, errors & omissions, violation of good faith or misrepresentations committed within the same policy term. If you have Professional Indemnity Insurance then we can’t guarantee that you still won’t lose sleep over losing a customer but at least it may lessen the burden somewhat. Professional indemnity insurance has been created to protect you and your business against costly litigation and for those that think there is a “one-size-fits” all type of insurance plan, think again – steer away from these offerings, as they seldom present the type of comprehensive cover your business requires; plus it is far better to tailor your cover to suit your specific, individual needs and requirements. Yes. In important disciplinary meetings and processes, the HSU will provide members with ongoing support and representation to see that members know their rights and any outcomes are fair. Definitions For the purposes of Professional Indemnity Insurance Professional Indemnity insurance allows everyone in the practice to do their jobs, confident in the knowledge that we’ll be there to support you in the event of a claim. Information included on the HSU website is intended to be a guide only and does not supersede the policy issued by the underwriter, Vero. HSU members who are ordinarily deemed to be employees though employed as contractors are covered providing that they are also insured by their employer’s Professional Indemnity Insurance policy. Can my employer refuse to indemnify me if they deem I have acted outside my duties? Locked Bag 3, Australia Square, Sydney NSW 1215. Why has insurance been provided for HSU Members? Yes. The cover under the members Professional Liability Insurance policy is provided at HSU’s discretion and the terms and conditions of the policy may be subject to change without notice. Professional Indemnity Insurance The HSU continues to protect financial members by purchasing a Professional Liability Insurance policy on their behalf. The policy includes Unlimited Retroactive Date excluding Known Claims and Circumstances. Professional Indemnity Insurance policies vary between branches, however, members are typically insured for a minimum of $10 million in individual indemnity. Please visit Microsoft to upgrade to MS Edge. PI insurance essentially provides a professional with insurance cover in respect of any allegation made against him for professional negligence in the practice of their profession. THE RIGHT INSURANCE COVER Through IPA Insure you can reduce your risk exposure by securing cover for: Firstly, If you follow the link you will come to the HSU membership benefits page where it states a number of reasons why the union provides professional indemnity insurance: Members can be sued as individuals. WHO CAN BUY PROFESSIONAL INDEMNITY? Below are their contact details:Marsh Pty Ltd PO Box H176 Australia Square NSW 1215, Tel: 02 8864 8365 E-mail: claims@hsu.asn.au. Professional Indemnity Insurance would pay out the financial damages awarded by a court of law and will also pay for related legal defense costs up to the limit specified in the policy. The HSU also provides professional indemnity insurance for members at no extra cost. Is there a waiting period?No, the policy is available to members as soon as they join and have made their membership payment. Our Public Health Awards system is broken. What if they ask you to sign something you’re not sure about? 65 of 2015 obliges all healthcare professionals who are providing cross-border healthcare (under this Directive) in the State to have professional liability insurance and to provide evidence of this if requested by an Authorised Officer. PLEASE READ THE POLICY WORDING CAREFULLY. Be part of a movement that will always campaign for secure jobs, stronger communities and a fairer society. Will this policy pay my legal defense expenses? 6 | Professional Indemnity Insurance Policy Professional Indemnity Insurance Terms and Conditions THIS POLICY COVERS CLAIMS FIRST MADE AGAINST THE INSURED (AND, IN RELATION TO INSURANCE CLAUSE 3, LOSS OR DAMAGE OCCURRING) AND NOTIFIED TO THE INSURER DURING THE PERIOD OF INSURANCE. It also covers contract, IP and trademark disputes. I am retired, would this policy extend to me while I was working? Professional Indemnity Insurance. When we stand together, our voices can’t be ignored. We can help with collective and individual issues around staffing, restructures, career progression and other matters. Will I receive immediate legal assistance? Who needs Professional Indemnity in the UAE? With cover available up to £2 million, don’t let the risk of a slip-up damage your business’ wellbeing. Members can be sued individually for Good Samaritan acts. If your profession or business requires you to advise others, you could be exposed to claims for breaches in duty of care. Protect healthcare heroes with paid pandemic leave, COVID-19: Support the Disability Sector Now, Suite 46, Level 1, 255 Drummond Street Carlton VIC 3053. PII provides you with the legal protection and support you will need if there is an issue with your professional practice at work. Ascot Group is one of the world’s pre-eminent specialty risk organizations. Failure to do so may lead to your claim being denied. What else is included? PII … If you’re involved in an incident leading to allegations of breach of a professional duty, which causes loss or damage to a client, your professional indemnity insurance can help to ensure you don’t have to pay all of the resulting compensation directly (subject to the level of cover and excess^). That’s because our digital operating model creates lower overheads, and we pass every dollar saved back to our clients. Don’t get left out on your own – join today! Employers may not be able to indemnify their employees due to insufficient insurance arrangements or impending insolvency. Yes, there is a $2,000 excess on the policy, however the HSU will cover this cost for members. It is essential for anyone working in the health, aged care and community sectors – especially those who work with vulnerable people. Before you make a decision about your own insurance, or any insurance product, you should: Click here for a copy of the policy wording.Click here for a copy of the certificate of currency. Information included on the HSU website is intended to be a guide only and does not supersede the policy issued by the underwriter, Vero. Get a free quote, it's quick and easy! Employers may not be able to indemnify their employees due to insufficient insurance arrangements or impending insolvency. You can also call or email us for advice whether it’s about your pay and conditions, workplace change, health and safety, disciplinary matters or anything else concerning you at work. Seek independent financial or insurance advice where necessary. It’s worth bearing in mind that even if you’ve done nothing wrong and a client makes an unfounded or spurious claim against you, it can cost significant sums of money to defend yourself. HSU financial members for claims resulting from any actual or alleged breach of duty that are made and notified to the insurer during the relevant policy period and where the members employer; HSU members who perform part-time private practice work, provided that the members additional income earned does not exceed $75,000 per annum and such work is of a similar nature to their usual employment. If you’re unsure whether or not you need a Professional Indemnity Insurance policy here in the UAE. Any complaints or disputes are to be reported to HSU immediately. What are they going to say? All financial members are covered by the HSUWA’s professional indemnity insurance. Some examples of occupations deemed to fall within this category are; The limit of indemnity or maximum sum insured on any one claim is $20,000,000. All Professional Indemnity Insurance plans we offered are quoted on a bespoke case-by-case basis. We’ve partnered with Aviva to offer professional indemnity insurance that protects you against a potential negligence claim. ACTU Member Connect is 100% union-owned and provides HSU members discount rates for goods and services such as wine, car rentals, financial planning, insurance and entertainment. Professional Indemnity Insurance Ireland. Professional indemnity insurance (PI), also known as professional liability insurance, covers you for claims where clients have lost money due to mistakes in your professional services. Using the example above if the excess was $10,000 then the amount the insurer will pay will be reduced by this amount. The information provided will be kept confidential in accordance with the Privacy Act 1988 cth. The Professional Liability Insurance Policy is paid out of existing membership revenue. If you work in Allied Health, the HSU is here to support you. 8). If you have any questions regarding specific cover, please contact the HSU to discuss. If in the course of your work of advising clients, you make a mistake or fail to do something that could cause financial loss to another person then you need this type of cover. Professional Indemnity Insurance (PII) is a form of liability insurance that protects you at work. If my second job is a registered business, will it be insured? The insurer will appoint a solicitor from their panel to act on your behalf. Free Professional Indemnity Insurance Quotes in Hong Kong . Membership of the HSU entitles you to a huge range of member benefits; from professional indemnity insurance, enterprise bargaining, workplace advice and assistance, free legal advice and exclusive discounts on a range of goods and services. To find out what other benefits you are entitled to, please contact us on 1300 478 000. No. The range of benefits available to members varies from branch to branch across Australia. Professional indemnity insurance covers against a wide range of scenarios, including: Professional negligence (i.e. It is not too long ago that Professional Indemnity (PI) insurance for contractors in the construction industry was practically unheard of. We will engage Marsh and/or the insurer (Vero) as required, to resolve the complaint/dispute. Cover is offered on an annual renewable basis but can also be offered for a specific project. S .I. Alternatively, you can find your branch by state and find more information about your union’s benefits. All rights reserved.Level 2, 109 Pitt St, Sydney NSW 2000 | ABN: 93 728 534 595, Delegates & activists are the backbone of our union. Professional Indemnity insurance is cover that will protect you and your business in the event of allegations of negligence being made against you which has caused your client a financial loss as a result of your negligence, mistakes or oversights. This could include, medication errors, client deaths, misconduct allegations, if you are sued by a client and so on. Professional services include any designs, advice, or consultations you carry out for a client. Professional Indemnity Insurance Policies in Singapore generally begin from $500/year, for a starting amount of about $500,000 in coverage.Prices will vary depending on your business type and size. Professional indemnity insurance, also referred to as PI insurance, is a type of business insurance that covers you for costs if you make a mistake in a piece of work for a client that causes them financial or reputational loss. Yes, the policy will also give coverage to retired members as long as the incident that gave rise to the claim occurred whilst you were a financial member of the HSU. Note: Treatment provided under the European Health Insurance Card is not treatment under the Cross-Border Healthcare Directive (see Q. Would the personal information I provide be kept confidential? Long-term peace of mind. Professional indemnity insurance pays the legal costs in defending you, as well as any compensation payments that may be due to your client as a result of your mistake. For further details visit www.memberconnect.com.au. Work you perform as an employee in an occupation outside HSU membership coverage. Yes. HSU members must immediately report any claims or circumstances which may lead to a potential claim. Will you be put on the spot? Professional indemnity cover is provided majorly on claims made basis. Professional Indemnity Insurance is designed to cover a qualified professional for claims arising from allegations that their specialist services or advice has caused financial loss to their customers. Employers may seek to recover financial losses when members are deemed to have acted outside the scope of their normal duties or authorities. Sometimes things can go wrong when you run a business. To be entitled to the benefits of the policy, you must be a current financial member of the HSU. No. In those days, the employer engaged a team of professional designers and presented the plans and specifications to the contractor to build. How to claim Professional Liability Insurance, Claims are managed by the HSU insurance broker, Marsh. In important disciplinary meetings and processes, the HSU will provide members with ongoing support and representation to see that members know their rights and any outcomes are fair. making a mistake in a piece of work for a client) Loss of documents or data. Read the relevant Product Disclosure Statement (PDS); and. All financial members are covered by the HSUWA’s professional indemnity insurance. The excess or deductible under a Professional Indemnity policy is no different to that under any other policy, being the amount the insured will contribute to each and every claim. Ensure your rights and conditions at work are fought for, protected and improved. You must be a full member of the Union at the time the Occurrence becomes known to the member to be covered under this policy. Visit our COVID-19 hub for the latest guidance and information. Professional indemnity insurance is a liability insurance designed to cover, either entirely or in part, sums to be paid by professionals, [...] either as damages or resulting from approved negotiated settlements, to third parties as compensation for losses arising from acts, errors or omissions committed by the professional during the conduct of its business activities. At the core of this is an innovative and modern technology eco-system, which enhances everything we do and creates a differentiated client experience. We operate through interconnected global platforms with a unified mission and common purpose built around our underwriting, product and distribution. However, because CCW works with a number of providers offering this type of coverage, we are able to give you an in-depth comparison of the market when it comes to securing your professional liability. We pride ourselves on the standard of our work of which our reputation is built, but unfortunately mistakes do happen. Employment practices breaches limit of liability is $1,000,000 in the aggregate. Cover is only provided in relation to claims that are made to you and notified to the insurer in the relevant policy period. Please enable JavaScript to experience the full functionality of our website. What if I become unfinancial with the Union, am I still covered? Underwritten by CGU, our Professional Indemnity insurance is specifically tailored to meet the risk exposure of accountants, tax agents and bookkeepers, as well as accounting practices that offer financial planning advice and services. If you have an ongoing claim it will cease if you become unfinancial. 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