Professional Indemnity Insurance
Why has insurance been provided for HSU Members?
- Members can be sued as individuals.
- Employers may not be able to indemnify their employees due to insufficient insurance arrangements or impending insolvency.
- Employers may seek to recover financial losses when members are deemed to have acted outside the scope of their normal duties or authorities.
- Members can be sued individually for Good Samaritan acts.
Terms and Conditions of Professional Indemnity Insurance Policy
Who is qualified for this cover?
- HSU NSW financial members, who are employees of medical establishments, 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;
- Is not lawfully required or permitted to indemnify the HSU NSW Member
- Is lawfully required or permitted to indemnify the insured but is unable to do so because it is insolvent, in administration or does not have a valid insurance policy in place that indemnifies the HSU NSW Member.
- Financial members of HSU NSW
- HSU NSW Members who perform part-time private practice work, provided that the members additional income earned does not exceed $100,000 per annum and such work is of a similar nature to their usual employment.
- HSU NSW 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.
The policy will not cover:
- Dishonest criminal acts
- Fines or penalties imposed
- Known circumstances of existing claims against Union Members
- Work you perform as an employee in an occupation outside HSU NSW membership coverage
- HSU members that generate greater than $100,000 per financial year from private practitioner work
- HSU NSW’s (safety net) Professional Indemnity Insurance policy covers the vast majority of HSU NSW members’ occupations however we are precluded at law to provide any coverage for medical practitioners. Some examples of occupations deemed to fall within this category are;
- Anaesthesia Registrars
- Dental Officers/Specialists/Surgeons/General Dentistry
- Medical Officers
The sums of the insured are:
- The limit of indemnity or maximum sum insured on any one claim is $20,000,000
- The overall maximum aggregate limit of all claims for any one period of insurance is $80,000,000
- The policy excess is $2,000 per claim inclusive of costs and expenses.