Policy Material

Insurance

Alert No 107 Attach 0ne

• Professionals can’t get insurance for many types of work

• Consumers won’t be able to get the professional services they need:

professionals won’t be providing them because they can’t get insurance cover –

or they will have closed down altogether.

• Consumers also run the risk that a professional is not insured

but they won’t necessarily know this.

• It’s happening right here in the electorate of [….]

and it’s affecting many professions.

• It’s happening particularly to small business people

because the majority of professionals are in small business.

• Protects consumers – by requiring professionals to have professional indemnity insurance

and by requiring high professional standards and risk management.

• Protects professionals – by capping civil liability payouts

• Gives some certainty to insurers – because they can calculate likely payouts.

• Makes providers responsible only for the loss they themselves cause.

• Treat liability under the TPA in the same way as actions under State or Territory law.

• Nationally consistent basis – ‘one in, all in’

to avoid ‘forum shopping’

to avoid professionals leaving jurisdictions that don’t have PSL and PL.

(We can provide a pamphlet on the issues and a short paper on how national administration would work.)

• Finally, all three parts are essential: PSL + PL + TPA.