| Psychologists Professional Indemnity Insurance - New Arrangements |
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The Psychology Board of Australia has imposed mandatory conditions for professional indemnity insurance which, in our view, our current group policy for VPA members does not meet. We were unsuccessful in our lobbying to have the Board accept Union group policies, despite the fact that other registration Boards have approved such policies. VPA members will have to take out their own policy at their own cost. We are please to be able to recommend to members the policies offered to VPA members by the IH Group. For an employed VPA member with no private practice income the cost will be $149.64 for the minimum cover of $500,000 For details of the IH Group PI policy and an application form go to www.vicpsych.org.au and click the IH Group button. How do the IH Group premiums compare with other PI policies? The cost to members of all IH Group policy options appear to be lower than the AON – APS member policy premiums. We invite members to do their own comparisons. Does the VPA receive any commission or other payments from the insurer? No, the VPA does not receive any ‘kickbacks’, however they may be described. All savings are passed on to members. What about the current VPA PI Insurance? When does it cease? Your current VPA insurance will cover you up to 30 June 2010. When should I take out my individual PI policy? You should take out a policy which commences on 1 July 2010, the date on which the PI requirements of the Psychology Board of Australia come into operation. Any Other Questions? Please read the information at http://www.msav.org.au/index.php?option=com_docman&task=doc_details&gid=753&Itemid=29 first, then if you have any questions Email us at This e-mail address is being protected from spambots. You need JavaScript enabled to view it What about MSAV members’ PI cover? The MSAV will continue to provide PI cover to its members as part of the membership fee. For this reason, scientists’ membership fees in 2010-2011 will be higher than the VPA and AHP membership fees; the difference reflects the inclusion of PI insurance cover for scientists, cover which is not included for pharmacists or psychologists.
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