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Professional Indemnity Insurance
The HSU continues to protect financial members by purchasing a Professional Liability Insurance policy on their behalf.
Information included on the HSU website is intended to be a guide only and does not supersede the policy issued by the underwriter, Vero. If you have any questions regarding specific cover, please contact the HSU to discuss.
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
Who is qualified for this cover?
HSU financial members 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 member's employer: a) is not lawfully required or permitted to indemnify the HSU member b) 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 member.
HSU members who perform part-time private practice work, provided that the members additional income earned does not exceed $75,000 per annum and such work is of a similar nature to their usual employment.
HSU 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 members.
Work you perform as an employee in an occupation outside HSU membership coverage HSU members that generate greater than $75,000 per financial year from private practitioner work
HSU’s (safety net) Professional Indemnity Insurance policy covers the vast majority of HSU 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; Anesthesia Registrars Dental Officers/Specialists/Surgeons/General Dentistry Interns Medical Officers Members requiring coverage for these occupations can do so via their own professional associations.
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.
Employment practices breaches limit of liability is $1,000,000 in the aggregate.
To be entitled to the benefits of the policy, you must be a current financial member of the HSU.
You must be a full member of the Union at the time the Occurrence becomes known to the member to be covered under this policy.
HSU members must immediately report any claims or circumstances which may lead to a potential claim. Professional indemnity policies are issued on “claims made basis” which stipulates that all known circumstances must be reported to the insurer during the policy period. Cover is only provided in relation to claims that are made to you and notified to the insurer in the relevant policy period. Failure to do so may lead to your claim being denied.
The policy includes Unlimited Retroactive Date excluding Known Claims and Circumstances.
The cover under the members Professional Liability Insurance policy is provided at HSU’s discretion and the terms and conditions of the policy may be subject to change without notice.
The HSU and its employees cannot provide financial advice or advice on your insurance needs to you. Before you make a decision about your own insurance, or any insurance product, you should:
Consider your own insurance needs;
Read the relevant Product Disclosure Statement (PDS); and
Seek independent financial or insurance advice where necessary.
HSU members shall give notice in writing or by email to Marsh and the HSU as soon reasonably practicable of every Occurrence, and shall forward to the Insurer all information relevant to such Occurrences that the Insurer may reasonably require, in particular every demand, writ, summons, proceeding, impending prosecution, inquest.
Complaints and Disputes
Any complaints or disputes are to be reported to HSU immediately. We will engage Marsh and/or the insurer (Vero) as required, to resolve the complaint/dispute.
Frequently Asked Questions
Is there a waiting period?
No, the policy is available to members as soon as they join and have made their membership payment.
Will my fees go up for this insurance?
No. The Professional Liability Insurance Policy is paid out of existing membership revenue.
What if I become unfinancial with the Union, am I still covered?
No. If you become unfinancial you will not be covered any longer by the Professional Liability Insurance policy. If you have an ongoing claim it will cease if you become unfinancial.
Would the personal information I provide be kept confidential?
Yes. The information provided will be kept confidential in accordance with the Privacy Act 1988 cth.
If my second job is a registered business, will it be insured?
Members who also work for themselves “part time – private practice work” in addition to their usual employment are also automatically insured for Professional Liability Insurance provided that the member’s additional income earned from their own “part time – private practice work” does not exceed $75,000 per annum, any one financial year.
Can my employer refuse to indemnify me if they deem I have acted outside my duties?
Will this policy pay my legal defense expenses?
Yes. The insurer will appoint a solicitor from their panel to act on your behalf.
Will I receive immediate legal assistance?
Is there excess payable on the policy?
Yes, there is a $2,000 excess on the policy, however the HSU will cover this cost for members.
I am retired, would this policy extend to me while I was working?
Yes, the policy will also give coverage to retired members as long as the incident that gave rise to the claim occurred whilst you were a financial member of the HSU.
Does the policy cover members who work in both the public and private sector where they have different employers?
Yes. The policy covers members who work in the private sector then work in the public sector or vice versa, providing they remain a financial member of the union and are employees working in occupations which fall within the coverage of the HSU.