All professionals are responsible for the services they provide – a lawyer providing legal advice, an accountant providing taxation advice, a medical practitioner treating a patient.
Australian registered healthcare professionals (medical practitioners, nurses, dentists, optometrists etc.) are required by their registration to hold medical indemnity insurance (also referred to as professional indemnity) which complies with the standards set by their Registration Board. The standard for medical practitioners can be found at: http://www.medicalboard.gov.au/Registration-Standards.aspx
Medical indemnity in Australia is usually structured so that privately practising doctors will hold their own medical indemnity cover. A second policy, often referred to as ‘practice indemnity’ may be required to cover a practice entity and employees. Whether this second policy is required depends on numerous factors, and each insurer has their own definitions. Go to our Practice Indemnity page here to learn more.
Below are Questions and Answers. Please contact us if you would like to discuss, or request a quote
- The insured practitioner’s legal liability arising from demands for compensation alleging a breach of professional duty (e.g. error during treatment of a patient).
- The legal costs to defend or settle the claim
- Other legal fees for non-compensation claims – such as a medical board investigation or coronial inquiry
Policy cover varies widely by medical indemnity insurer. On top of this there are a range of other insurances you will likely need to cover other risks in your practice.
- The Medical Indemnity (Prudential Supervision and Products Standards) Act 2003.
- ROCS – Run-Off Cover Scheme
- HCCS – High Cost Claims Scheme
- ECS – Exception Claims Scheme
- PSS – Premium Support Scheme