Professional Indemnity Insurance
Professional Indemnity & Public Liability Insurance is a mandatory requirement for all practising members. It is also a requirement by health funds in order to become registered as a recognised provider.
In these days of ever increasing litigation, anyone not affording themselves this protection risks their personal assets if sued. Members may hold insurance cover from any company, as long as it meets the minimum cover of $2M of professional indemnity and $10M in public liability. This section of the policy may also be referred to as ‘civil liability’ or ‘per policy occurrence limit’.
Exceptions to the above is Chinese Herbal Medicine practitioners who must hold a minimum of $5M in professional indemnity and $10M in public liability.
There is no minimum on the aggregate amount. An ‘aggregate’ is the amount the policy is able to pay out over the policies’ term. Which is in most cases, 12 months. As an example, if your indemnity portion is $2M with an aggregate of $10M, it allows payouts to a total of $10M in a single policy period.
Please note: The CMA do not have any direct affiliations or ‘incentive agreements’ in place with any insurance providers, we allow our members to obtain a policy that best suites their needs and budgets.
Below are some insurance options and contact details for each. Many other insurance providers for natural therapies practitioners are available.
Level 3, 179-191
New South Head Road
Edgecliff NSW 2027
Suite 2, Level 1
230 Balaclava Road
Caulfield VIC 3161
Toll Free: 1300 249 268
Quotes & Applications can be made directly online.
AON Risk Services Australia Limited
Level 51, 80 Collins Street
Melbourne VIC 3000
Toll free: 1800 805 191
Fax: 03 9211 3510
Cnr Darling & High Streets
Echuca VIC 3564
Toll Free: 1300 659 626
Fax: (03) 5482 6020
501A Elizabeth Street
Surry Hills NSW 2010
Contact number: (02) 8399 3744