2013-14 Aon PII Renewals
Aon Risk Solutions is the APS approved broker for professional indemnity insurance (PII) which combines malpractice, public and products liability under the one policy.
This cover satisfies the requirements of The Australian Health Workforce Ministerial Council and The Psychology Board of Australia.
Further, it provides extensive coverage to compensate for Inquiry Costs associated with complaints heard by the registration boards (which currently forms approximately 90% of claims).
APS members are offered Aon’s PII policy at a considerably reduced premium - a benefit that saves them an amount greater than their annual APS subscription fee.
To find out more about this cover, you can call the Aon team on 1800 805 191. Alternatively you can visit Aon’s website:
Obtaining professional indemnity insurance is an important way of managing your professional risks.
As a key member benefit, the Australian Psychological Society (APS) offers in excess of 15 years’ experience in negotiating with various insurance brokers to develop a professional indemnity insurance product suited to the professional risks of their members.
When selecting a preferred provider we have considered selection criteria related to the following areas:
The current insurance broker endorsed by the APS is Aon Risk Solutions which administers a professional indemnity insurance policy underwritten by CGU Insurance.
The Aon policy offers free run-off cover which means that if you have either retired from the profession or moved into the public sector you will be covered for any claims made against you as a result of past actions.
Here’s an example for you:
Six months ago Mr Smith retired from his private practice offering psychological services. Last week Mr Smith was surprised to find out that a patient from his private practice had made a claim against him. As Mr Smith’s Aon insurance policy includes run-off cover, he is still covered for the claim.
So, if you are about to retire, cease working as a psychologist, or move into the public sector, and you wish to retain professional indemnity insurance cover, all you need to do is notify Aon of your changed circumstances, and you will be placed on the run-off cover list. You will not have to pay any further insurance premiums, but are reminded that if you recommence work as a psychologist, you will need to take out a new policy.
If you would like to learn more about what professional indemnity covers visit the professional indemnity insurance page on Aon’s website.
Ph: 1800 805 191
Sam Small HQ is a new portal on the Aon website that provides advice, information and resources to help members make more informed decisions around their insurance purchasing.
To find out more, visit aon.com.au/samsmall