Work you perform as an employee in an occupation outside HSU membership coverage. PII provides you with the legal protection and support you will need if there is an issue with your professional practice at work. The information provided will be kept confidential in accordance with the Privacy Act 1988 cth. It is essential for anyone working in the health, aged care and community sectors – especially those who work with vulnerable people. Definitions For the purposes of Professional Indemnity Insurance Underwritten by CGU, our Professional Indemnity insurance is specifically tailored to meet the risk exposure of accountants, tax agents and bookkeepers, as well as accounting practices that offer financial planning advice and services. Yes. We operate through interconnected global platforms with a unified mission and common purpose built around our underwriting, product and distribution. It also covers contract, IP and trademark disputes. Locked Bag 3, Australia Square, Sydney NSW 1215. The excess or deductible under a Professional Indemnity policy is no different to that under any other policy, being the amount the insured will contribute to each and every claim. Unintentional breach of copyright and/or confidentiality. No. 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. Sometimes things can go wrong when you run a business. Information included on the HSU website is intended to be a guide only and does not supersede the policy issued by the underwriter, Vero. 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. Alternatively, you can find your branch by state and find more information about your union’s benefits. The HSU and its employees cannot provide financial advice or advice on your insurance needs to you. THE RIGHT INSURANCE COVER Through IPA Insure you can reduce your risk exposure by securing cover for: 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. With cover available up to £2 million, don’t let the risk of a slip-up damage your business’ wellbeing. The range of benefits available to members varies from branch to branch across Australia. Members can be sued individually for Good Samaritan acts. Will I receive immediate legal assistance? It indemnifies the professional liability of the insured for only the claims made during the policy period on account of covered malpractices, negligence, errors & omissions, violation of good faith or misrepresentations committed within the same policy term. Get representation and support from those who know your workplace rights. Why choose Professional Indemnity Insurance? Employment practices breaches limit of liability is $1,000,000 in the aggregate. Getting called into a meeting with the boss can be scary. Indemnity insurance provides protection for you against claims for breach of professional duty because of a … In those days, the employer engaged a team of professional designers and presented the plans and specifications to the contractor to build. 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. 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. The HSU also provides professional indemnity insurance for members at no extra cost. Professional indemnity insurance pays the legal costs in defending you, as well as any compensation payments that may be due to your client as a result of your mistake. Why you need professional indemnity insurance. Please visit Microsoft to upgrade to MS Edge. We pride ourselves on the standard of our work of which our reputation is built, but unfortunately mistakes do happen. Professional Indemnity insurance works in a similar way to other third-party insurance products. All financial members are covered by the HSUWA’s professional indemnity insurance. Failure to do so may lead to your claim being denied. Yes. Professional indemnity insurance has been created to protect you and your business against costly litigation and for those that think there is a “one-size-fits” all type of insurance plan, think again – steer away from these offerings, as they seldom present the type of comprehensive cover your business requires; plus it is far better to tailor your cover to suit your specific, individual needs and requirements. 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. 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. The insurer will appoint a solicitor from their panel to act on your behalf. S .I. 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. Be part of a movement that will always campaign for secure jobs, stronger communities and a fairer society. Is there a waiting period?No, the policy is available to members as soon as they join and have made their membership payment. All Professional Indemnity Insurance plans we offered are quoted on a bespoke case-by-case basis. HSU officials visit workplaces regularly to provide support and assistance to members. PII … If you’re unsure whether or not you need a Professional Indemnity Insurance policy here in the UAE. What are they going to say? If you have an ongoing claim it will cease if you become unfinancial. 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. The HSU continues to protect financial members by purchasing a Professional Liability Insurance policy on their behalf. Will you be put on the spot? Such loses are not covered by a general liability insurance 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. Any complaints or disputes are to be reported to HSU immediately. It is essential for anyone working in the health, aged care and community sectors – especially those who work with vulnerable people. Read the relevant Product Disclosure Statement (PDS); and. Background: Professional Indemnity for Construction. Free Professional Indemnity Insurance Quotes in Hong Kong . Visit our COVID-19 hub for the latest guidance and information. Note: Treatment provided under the European Health Insurance Card is not treatment under the Cross-Border Healthcare Directive (see Q. Professional indemnity cover is provided majorly on claims made basis. Cover is offered on an annual renewable basis but can also be offered for a specific project. It is not too long ago that Professional Indemnity (PI) insurance for contractors in the construction industry was practically unheard of. The overall maximum aggregate limit of all claims for any one period of insurance is $80,000,000. We can help with collective and individual issues around staffing, restructures, career progression and other matters. We will engage Marsh and/or the insurer (Vero) as required, to resolve the complaint/dispute. Professional Indemnity Insurance (PII) is a form of liability insurance that protects you at work. Professional Indemnity Insurance would pay out the financial damages awarded by a court of law and will also pay for related legal defense costs up to the limit specified in the policy. 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. All financial members are covered by the HSUWA’s professional indemnity insurance. Yes, there is a $2,000 excess on the policy, however the HSU will cover this cost for members. If you have any questions regarding specific cover, please contact the HSU to discuss. What if I become unfinancial with the Union, am I still covered? Please enable JavaScript to experience the full functionality of our website. With Provide, you save up to 25% on your annual premiums. Can my employer refuse to indemnify me if they deem I have acted outside my duties? To find out what other benefits you are entitled to, please contact us on 1300 478 000. PLEASE READ THE POLICY WORDING CAREFULLY. You can also call or email us for advice whether it’s about your pay and conditions, workplace change, health and safety, disciplinary matters or anything else concerning you at work. Known circumstances of existing claims against members. Professional Indemnity Insurance policies vary between branches, however, members are typically insured for a minimum of $10 million in individual indemnity. Defamation and libel. The sum insured is $20 million (and $80 million in any one policy year)*. 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. Employers may not be able to indemnify their employees due to insufficient insurance arrangements or impending insolvency. 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. WHO CAN BUY PROFESSIONAL INDEMNITY? Professional Indemnity insurance is cover that will protect you and your business in the event of allegations of negligence being made against you which has caused your client a financial loss as a result of your negligence, mistakes or oversights. This normally arises as the result of any actual or alleged negligent acts, errors or omissions and can be both in respect of a professional practice, a professional appointment or an individual project. Employers may seek to recover financial losses when members are deemed to have acted outside the scope of their normal duties or authorities. Take a look at some of the examples below . I am retired, would this policy extend to me while I was working? 8). Ensure your rights and conditions at work are fought for, protected and improved. We’ve partnered with Aviva to offer professional indemnity insurance that protects you against a potential negligence claim. Professional indemnity insurance covers against a wide range of scenarios, including: Professional negligence (i.e. That’s because our digital operating model creates lower overheads, and we pass every dollar saved back to our clients. © 2021 HSU New South Wales Branch. 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. 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. 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