4 August

COMPLIMENTARY TOP UP INSURANCE COVER FOR PUBLIC PRACTITIONERS

Dear Member,

We wish to advise that CPA Australia has arranged a group Member’s Professional Indemnity Excess Insurance Policy for you as a Public Practice Certificate holder effective 8 October 2017. This will be at no additional cost to you.

The Member’s Professional Indemnity Excess Insurance Policy will provide PPC holders with an additional layer of protection over and above the existing levels of professional indemnity insurance (PII) you are already required to hold as part of the requirements of having a public practice certificate.

For those Members who are currently required to have a minimum of $2 million PII, the new Member’s Professional Indemnity Excess Insurance Policy will provide them with an additional $3 million PII for any one claim. 

If you are currently required to have $10 million PII you will be provided with an additional $5 million PII for any one claim.

The new Member’s Professional Indemnity Excess Insurance Policy is being underwritten by a combination of insurers, led by Chubb Insurance Australia Limited. A fact sheet with details of the Policy is being finalised and will be available on Thursday 10 August. The new Member’s Professional Indemnity Excess Insurance Policy will be provided with an annual aggregate limit of cover.

The new Member’s Professional Indemnity Excess Insurance Policy will provide an excess insurance layer of PII for you in addition to your own PII and only react if their existing compliant PII policy limit was exhausted.

CPA Australia is continuing to work with the Professional Standards Council (PSC) on CPA Australia’s existing application with a view to a new Professional Standards Scheme being in place as soon as practicable.

However, until that time we want to assure you the new Member’s Professional Indemnity Excess Insurance Policy will remain in place.

CPA Australia has scheduled a number of Public Practice Forums to explain details of the new Member’s Professional Indemnity Excess Insurance Policy, the changes required as a result of the lapse of the PSC Scheme, including changes to stationery and to answer any questions you may have.

We encourage you to attend one of these forums:

Sydney  Thursday 10 August 12.00pm – 1.30pm Register now 
Sydney Thursday 10 August 6.00pm – 7.30pm

Register now
Perth Monday 14 August 6.00pm – 7.30pm Register now
Adelaide Tuesday 15 August 6.00pm – 7.30pm Register now

Hobart Wednesday 16 August 6.00pm – 7.30pm Register now 

Melbourne Thursday 17 August 6.00pm – 7.30pm Register now 

Webinar Friday 18 August   Register now 

Canberra Wednesday 23 August 6.00pm – 7.30pm Register now 

Brisbane Thursday 24 August 6.00pm – 7.30pm Register now 

For our members in the Northern Territory please contact us via nt@cpaaustralia.com.au for more information.

Additional communication updates, including webinars and live chat sessions will be scheduled as required. 

If you have any questions please contact publicpractice@cpaaustralia.com.au.

Jeff Hughes
Chief Operating Officer Member Services

Peter Docherty
General Manager Public Practice

More information