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Improvements to professional indemnity policy for psychologists

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June 2018

A partnership that matters

Aon are proud to advise we have been reappointed as the preferred insurance broker for the Australian Psychological Society for another four and half years. With a committed association now exceeding 30 years, we are in a strong position to continue developing a competitive, quality and broad insurance solution which continues to evolve and address the common emerging risks and concerns of psychologists.
 
We are pleased to advise there will be no change to this year’s renewal premium and in addition, the following enhancements have been included at no additional cost*: 
 
  • Increased Cover; clients purchasing $2 million or $5 million in professional indemnity cover will now have their cover automatically increased to $5 million and $7 million respectively.
  • Automatic $20 million public and product liability cover;
  • Making a claim is stressful, now up to $5,000 can be rebated for counselling*
  • Right of Reply; for unfair findings where there is strong probability of a decision overturn, the policy will now provide financial assistance to cover part of the costs of senior counsel to appeal the decision up to $50,000*
  • Been hacked? Automatic cyber cover up to $100,000 is now included which includes cover for cyber extortion, privacy fines, breaches, multimedia liability and virus and hacking*
In addition, the fees have been reduced by $23.
 
The Aon insurance offer for 2018-19 continues to the following broad coverage features:
  • Inquiry costs cover
  • Run-off cover for psychologists moving to public sector employment at no additional cost
  • Cover for maternity leave*
  • Legal advice - up to 2 hours consultation per annum for any legal matter related to a member's role as a psychologist
 
For more information about Professional Indemnity Insurance for members of the Australian Psychological Society please contact the Aon Health team on 1800 805 191. 
 
*conditions apply. Please contact the Aon Health team on 1800 805 191 for full policy terms and conditions. 

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