Insurance for NZ Members
Aon Risk Solutions New Zealand introduces
a great insurance offering for IICT Members
Working closely with Aon, our recommended insurance partner, we’re proud to offer a product that specifically covers the Professional indemnity and Public liability risks faced by IICT members practicing in New Zealand.
Aon has negotiate competitive premiums for IICT members and has a dedicated specialist team experienced in the placement of professional liability insurance and associated risk management and claims support. Application for insurance is easy requiring completion of a short proposal form. We are also in the process of making it even easier through our on-line application process currently under development.
Professional Indemnity Insurance options of $1,000,000 or $2,000,000 indemnity limit from $241.50* including General Public Liability
*based on $1,000,000 indemnity and nil animal connected modalities.
** The base insurance offer is for individual health practitioners only, and provides a combined Professional Indemnity, General Public and Statutory Liability policy. Optional extensions to add a business entity or include employees is also available and is outlined in the proposal application.
No-one understands the risks of the health industry like Aon. They proudly help protect over 9,000 Allied Health Practitioners, and can cover over 1,000 modalities, they negotiate strongly with insurers to offer tailored professional indemnity insurance, at competitive prices. We are proud to partner with Aon.
Contact the Aon Professional Risks Team: +64 4 819 4126 or email: nz.IICT@aon.com
IICT partnered with Aon New Zealand to negotiate and deliver a tailored and competitive insurance offer to our members. Unlike a direct insurer, Aon access many insurance companies and provide the most competitive insurance offer. Aon New Zealand has been arranging professional liability insurance to health professionals for over 40 years.
Vero Liability Insurance is a specialist liability Insurer and underwriter of medical malpractice Insurance. In accordance with the Insurance (Prudential Supervision) Act 2010, Insurers receive a financial strength rating issued by Standard & Poors as follows:
A+ (good), issued by Standard & Poor's.
This insurance policy apply to the insured modality undertaken within the territorial limits of New Zealand only.
This insurance provides cover an individual health practitioner:
Options of $1,000,000 in respect of each and every claim and for all claims in the aggregate (the policy year) or $2,000,000 in respect of each and every claim and for all claims in the aggregate (the policy year)are available
This section of the cover does not involve any excess, i.e. all claims are paid in full up to the amount of cover.
Cover includes costs awarded against you as well as legal and other defence costs, whether the case against you is successful or not.
LEGAL AND DISCIPLINARY DEFENCE COSTS
This section will cover legal costs and expenses incurred in the defence of any action or enquiry brought against you such as Medical Disciplinary Hearings, Committees of Enquiry, Courts Martial, ACC Enquiries, Privacy Complaints Tribunal, Coroners Courts and the like.
PUBLIC / GENERAL LIABILITY – Claims resulting from products or ownership/occupation of property connected to your business as a health practitioner.
STATUTORY LIABILITY – Fines or Penalties made against you by an authorised body that claims jurisdiction to investigate, sanction or discipline following a complaint or concern over your competency or conduct in connection with your performance as a health practitioner. (exclusion apply for reckless or deliberate conduct)
You can apply for insurance at any time. The insurance will be for 12 months from the date the policy is put in place.
If you are currently insured then your will have a ‘retroactive date’ on your insurance policy. You will keep this date as it will be carried onto your new policy. All you need to do is provide us with evidence of your existing insurance, such as a copy of the policy schedule of insurance certificate (as long as it has the ‘retroactive date’ shown). By maintaining the retroactive date, you continue to be insured under the new policy for your past activities*
*excluding any claims you already know about and have or should have reported them to the previous insurer.
No, the policy can include more than one modality and only one premium is payable, based on the higher premium where modalities fall into different pricing categories.
Undertaking community or volunteer work is great way to be part of a community, but regardless of whether you are paid, it is still considered providing a professional service – if you are practising your modality. The great news is if you do any volunteer work at a charity or community event, in the form of the modality in which you are qualified, then you’re covered for claims. (anywhere in New Zealand)
You will need to advise Aon as you will be eligible for a different policy with different conditions and price.
Aon offer monthly premium instalments. Call us on +64 4 819 4126 and we can set this up for you!
An Aon representative will finalise the insurance for you and make the necessary payment arrangements. Once you have paid for the insurance a certificate will be issued.
Our policies are mobile and follow you wherever you practice within New Zealand.
No, as Aon’s combined Professional Indemnity, Public and Products Liability Insurance is written on a claims-made basis, Aon is unable to offer short-term policies. If you are ceasing practice, you may be eligible for run-off cover to protect you from any claims that may arise after you retire. The free run-off cover is only available if the policy period (12 months) in which you cease practice is paid in full.
No the base policy is just for you. If you employ staff or also trade under a company name you will need to include additional insurance options.
Aon contact you via email 2-4 weeks before the current policy expiry date. A fresh declaration to confirm contact details modality options is then completed by you and the premium paid for another 12 months.