Professional Indemnity Insurance

NZPsS Members who are Registered Psychologists may join the Society's professional indemnity insurance scheme.
Printable Proposal Forms & Invoice below.

What the Scheme Offers

- Professional Indemnity and Public Liability insurance. Financial assistance to pay for the costs of defending yourself against claims laid in respect of any civil liability arising from a breach of professional duty; or the cost of defending allegations that may not be justified. The Public Liability policy covers personal injury or property damage caused in connection with the insured's business. Cover options are $250,000 per claim (maximum $500,000 per year) OR $500,000 per claim (maximum $1,000,000 per year).

- Retroactive cover - for claims arising out of work done back to the inception date of continuous NZPsS membership; provided the claim is first made known to the insured after joining the insurance scheme.

- Cover for non-psychologist employees within a practice.

- An 0800 number for access to 'legal first-aid' from a dedicated medico-legal specialist lawyer in the event of a claim.

There are two tiers:

- Tier A for members who are NOT involved as specialist report writers accredited by the Family Court.

- Tier B for members who ARE INVOLVED as specialist report writers. Within Tier B are two premium levels: 1. if your earnings from Family Court work equates to less than 25% of total earnings; and 2. if your earnings from Family Court work equates to 25% or more of total earnings.

Intern Psychologist Student Subscribers of NZPsS can also obtain cover under the scheme AT NO COST.

NOTE - The importance of Uninterrupted Insurance Cover
Cover is provided on a 'claims made' basis. This means the policy must be in force when an alleged incident is first brought to the holder's attention.
What Happens on Retirement? - 'Run-off cover' is available to maintain protection for a period to protect against any claims made against you at a later date. For Tier A members, run-off cover premiums reduce progressively by 10% per year down to a minimum of 40% for 6 years and subsequent years if required. Tier B members, please request a quote for run-off cover.

To join the scheme you must be:

a) A Full Member of NZPsS and a Registered Psychologist with current APC

b) An NZPsS Student Subscriber registered as an "Intern Psychologist"

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This page last updated 02/04/2008