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31 Jul 2019
The Psychology Board of Australia (the Board), along with three other National Boards, has today published its revised professional indemnity insurance (PII) arrangements registration standard1 which will start on 1 December 2019 and replace the existing standard.
The Council of Australian Governments (COAG) Health Council approved the revised standard 30 June 2019.
The main change to the standard is that it no longer sets a minimum amount of PII cover. Practitioners are still required to do an objective self-assessment of their practice and should also seek advice from their insurer on the level of cover that is adequate and appropriate for their practice.
Additionally, the standard continues to clarify that run-off cover is required for matters that are not already covered, but now requires ‘appropriate’ run-off cover, rather than run-off cover for at least seven years. It also introduces information about the circumstances in which a practitioner is not required to have PII arrangements.
The revised standard will apply to applicants for renewal and applicants for initial registration. The revised standard is being rolled out to align with the renewal cycle, which will allow practitioners time to meet the requirements of the new standard. The standard was revised after a scheduled review, which included public consultation. The Board has also published a consultation report that provides a summary of the consultation process, rationale for any changes and a proposed way forward.
The following resources about the revised standards are available on the Registration standards page.
1 Registration standards define the requirements that applicants and registrants in the regulated professions need to meet to be registered.