Insurance FAQ’S

The insurance psychologists commonly hold depends on how they operate and the services they provide. This typically includes Professional Indemnity insurance, which is designed to respond to claims of professional negligence or breach of duty, and Public and Products Liability insurance, which is designed respond to third party bodily injury or property damage claims arising from business activities. Both covers may extend to investigation costs, and depending on the policy, defamation. Additional covers such as Commercial Property, Business Interruption and Employee Fidelity may also be relevant depending on business structure and services offered.

Professional Indemnity insurance is designed to cover claims arising from professional negligence, errors or omissions in the services you provide. Psychologists registered with AHPRA are generally required to hold Professional Indemnity insurance as a condition of their registration. Even practitioners who are not AHPRA-registered may find that their professional association or employer requires current Professional Indemnity cover. Without appropriate cover, you may be unable to practise and could be personally liable for legal costs and compensation claims. Speaking with an insurance broker can help you understand the level of cover appropriate for your circumstances.

The type of insurance plumbers typically have depends on how they operate and the work they perform. Common coverage can include Public and Products Liability insurance for third party injury or property damage, Tools of Trade insurance for tools and equipment, Commercial Motor Vehicle insurance and Workers Compensation if you employ staff. Additional cover may be needed depending on your contracts, locations and business activities.