To be entitled to the benefits of the policy, you must be a current financial member of the HSU. Will you be put on the spot? Does the policy cover members who work in both the public and private sector where they have different employers? Professional indemnity insurance (PI), also known as professional liability insurance, covers you for claims where clients have lost money due to mistakes in your professional services. Indemnity insurance provides protection for you against claims for breach of professional duty because of a … Why has insurance been provided for HSU Members? Professional Indemnity Insurance The HSU continues to protect financial members by purchasing a Professional Liability Insurance policy on their behalf. The information provided will be kept confidential in accordance with the Privacy Act 1988 cth. We pride ourselves on the standard of our work of which our reputation is built, but unfortunately mistakes do happen. In important disciplinary meetings and processes, the HSU will provide members with ongoing support and representation to see that members know their rights and any outcomes are fair. The range of benefits available to members varies from branch to branch across Australia. ACTU Member Connect is 100% union-owned and provides HSU members discount rates for goods and services such as wine, car rentals, financial planning, insurance and entertainment. These can be costly and disruptive to a business to defend and compensate for, all of which the business may not have the financial resource to fund. 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. Failure to do so may lead to your claim being denied. Professional Indemnity Insurance policies vary between branches, however, members are typically insured for a minimum of $10 million in individual indemnity. To find out what other benefits you are entitled to, please contact us on 1300 478 000. Why you need professional indemnity insurance. Will this policy pay my legal defense expenses? Professional Indemnity Insurance Policies in Singapore generally begin from $500/year, for a starting amount of about $500,000 in coverage.Prices will vary depending on your business type and size. 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. The insurer will appoint a solicitor from their panel to act on your behalf. Using the example above if the excess was $10,000 then the amount the insurer will pay will be reduced by this amount. Members can be sued individually for Good Samaritan acts. The overall maximum aggregate limit of all claims for any one period of insurance is $80,000,000. Professional Indemnity Insurance. Yes, there is a $2,000 excess on the policy, however the HSU will cover this cost for members. Some examples of occupations deemed to fall within this category are; The limit of indemnity or maximum sum insured on any one claim is $20,000,000. It is not too long ago that Professional Indemnity (PI) insurance for contractors in the construction industry was practically unheard of. Before you make a decision about your own insurance, or any insurance product, you should: Click here for a copy of the policy wording.Click here for a copy of the certificate of currency. In those days, the employer engaged a team of professional designers and presented the plans and specifications to the contractor to build. It also covers contract, IP and trademark disputes. Professional Indemnity Insurance - At Zensurance we simplify the process of getting professional indemnity insurance. Employers may not be able to indemnify their employees due to insufficient insurance arrangements or impending insolvency. 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 RIGHT INSURANCE COVER Through IPA Insure you can reduce your risk exposure by securing cover for: Cover is offered on an annual renewable basis but can also be offered for a specific project. If you have Professional Indemnity Insurance then we can’t guarantee that you still won’t lose sleep over losing a customer but at least it may lessen the burden somewhat. Getting called into a meeting with the boss can be scary. Yes. Such loses are not covered by a general liability insurance policy. Don’t get left out on your own – join today! Our Public Health Awards system is broken. All rights reserved.Level 2, 109 Pitt St, Sydney NSW 2000 | ABN: 93 728 534 595, Delegates & activists are the backbone of our union. Professional Indemnity insurance works in a similar way to other third-party insurance products. If you become unfinancial you will not be covered any longer by the Professional Liability Insurance policy. It is essential for anyone working in the health, aged care and community sectors – especially those who work with vulnerable people. Professional indemnity insurance is a liability insurance designed to cover, either entirely or in part, sums to be paid by professionals, [...] either as damages or resulting from approved negotiated settlements, to third parties as compensation for losses arising from acts, errors or omissions committed by the professional during the conduct of its business activities. Ensure your rights and conditions at work are fought for, protected and improved. Yes. Cover is only provided in relation to claims that are made to you and notified to the insurer in the relevant policy period. Unintentional breach of copyright and/or confidentiality. What are they going to say? Indemnity insurance provides protection for you against claims for breach of professional duty because of a negligent act, error or omission relating to your work. If you have an ongoing claim it will cease if you become unfinancial. It’s worth bearing in mind that even if you’ve done nothing wrong and a client makes an unfounded or spurious claim against you, it can cost significant sums of money to defend yourself. 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. Information included on the HSU website is intended to be a guide only and does not supersede the policy issued by the underwriter, Vero. All financial members are covered by the HSUWA’s professional indemnity insurance. We can help with collective and individual issues around staffing, restructures, career progression and other matters. WHO CAN BUY PROFESSIONAL INDEMNITY? At the core of this is an innovative and modern technology eco-system, which enhances everything we do and creates a differentiated client experience. Get a free quote, it's quick and easy! Locked Bag 3, Australia Square, Sydney NSW 1215. PI insurance essentially provides a professional with insurance cover in respect of any allegation made against him for professional negligence in the practice of their profession. 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. Employers may not be able to indemnify their employees due to insufficient insurance arrangements or impending insolvency. Firstly, If you follow the link you will come to the HSU membership benefits page where it states a number of reasons why the union provides professional indemnity insurance: Members can be sued as individuals. 6 | Professional Indemnity Insurance Policy Professional Indemnity Insurance Terms and Conditions THIS POLICY COVERS CLAIMS FIRST MADE AGAINST THE INSURED (AND, IN RELATION TO INSURANCE CLAUSE 3, LOSS OR DAMAGE OCCURRING) AND NOTIFIED TO THE INSURER DURING THE PERIOD OF INSURANCE. What if I become unfinancial with the Union, am I still covered? All financial members are covered by the HSUWA’s professional indemnity insurance of $20 million for any one claim (and $80 million aggregate in any one policy year)*. Please visit Microsoft to upgrade to MS Edge. Professional Indemnity Insurance is designed to cover a qualified professional for claims arising from allegations that their specialist services or advice has caused financial loss to their customers. Professional Indemnity insurance – also known as PI insurance or PII – is intended to protect professionals and their businesses in the event of claims made by a client (or third party) suggesting that they have suffered loss as a result of non-performance, breach of contract and/or professional negligence in the services provided. The HSU also provides professional indemnity insurance for members at no extra cost. Get representation and support from those who know your workplace rights. Professional indemnity cover is provided majorly on claims made basis. Is there a waiting period?No, the policy is available to members as soon as they join and have made their membership payment. Professional Indemnity Insurance (PII) is a form of liability insurance that protects you at work. Each HSU branch provides designated lawyers who will give you a free initial consultation on any matter or full legal representation on industrial matters. S .I. 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