Aussie psychologists urged to use specific broker

By Cameron Brown | 18/06/2012 12:04:00 AM | 1 comments



The Australian Psychological Society (APS) has issued a glowing endorsement for one Australian broker and encouraged its 20,000 members to use it for all professional indemnity (PI) insurance.

The APS specifically endorses members using broking giant Aon.

It states: “Aon Risk Solutions is the APS-endorsed broker for professional indemnity insurance which combines malpractice, public and products liability under the one policy.

“This cover satisfies the requirements of The Australian Health Workforce Ministerial Council and The Psychology Board of Australia.

“Further, it provides extensive coverage to compensate for Inquiry Costs associated with complaints heard by the registration boards (which currently forms approximately 90% of claims),” said the APS.

It added that APS members are offered Aon’s PI policy at a considerably reduced premium – a benefit that saves members “an amount greater than their annual APS subscription fee.”

“As a key member benefit, the Australian Psychological Society offers in excess of 15 years’ experience in negotiating with various insurance brokers to develop a professional indemnity insurance product suited to the professional risks of their members.”

APS also offer a “considered selection criteria” for a preferred insurance broker:

  • Insurance product – extent of insurance coverage, premium level;
  • Working relationship – capacity of the insurance company to work collaboratively with the APS towards better risk management practices by psychologists, and advocate for members where necessary;
  • Knowledge and experience – depth of understanding of the psychology field, and related professional indemnity insurance matters;
  • Service delivery – staffing levels to process high volumes of applications, and ability to deal effectively with enquiries.

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Latest Comments

  • Concerned Psychologist on 18 Jun 2012 01:35 PM

    I believe this is a false statement "The Psychology Board of Australia (APS) has issued a glowing endorsement for one Australian broker and encouraged its 20,000 members to use it for all professional indemnity (PI) insurance."

    I have nowhere seen the Psychology Board of Australia make such a statement - it sounds like a statement the APS would make not the board.

    Please provide evidence or issue a correction/retraction immediately

    [IB EDITOR'S NOTE]

    From the APS' website:

    http://www.psychology.org.au/membership/benefits/insurance/

    Which states: "Aon Risk Solutions is the APS-endorsed broker for professional indemnity insurance (PII)"

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