Tailored Insurance for Psychologists
Psychologists insurance includes both Professional Indemnity and Public Liability in one policy.
Why do Psychologists need Professional Indemnity insurance?
You have patients that rely on your counselling to help them with any number of issues they’re dealing with, and it’s your help that can get them back on their feet. As you’re helping people when they may be at their most vulnerable, your advice may be misinterpreted by a patient, and this could have a negative impact on that person’s life. If the patient believes that you’ve been negligent, they could make a claim against your business and seek to hold you accountable for damages.
Psychologist Indemnity insurance is designed to protect you if something goes wrong while you’re treating a patient, it includes cover against a wide range of risks like claims of professional negligence.2
If you're practising, you need Professional Indemnity insurance arrangements in place that meet the Psychology Board of Australia standard.3
Why do Psychologists need Public Liability insurance?
You may practise from your premises, or you might travel to see your clients. Whatever the case may be, there are risks all around you. For instance, Dr Joe Bloggs enters your practice to have an animated conversation about the differences between Freud and Jung with you. While he’s walking through the waiting room, thoughts of his mum spring into his head, and he’s so distracted that he runs headfirst into Jane, who has a large cup of boiling herbal tea in her hands. Jane's herbal tea flies skyward and comes cascading down all over poor old Doc Joe. Now Joe is left with burns from the tea and a suede jacket that will never be the same. You could be held liable for Joe's injuries and the damage to his coat.
Psychologist Liability insurance provides cover for legal liabilities if a member of the public makes a claim that they were injured, or damage was caused to their property because of your business dealings or on your premises.2