| Insurance.Professional Indemnity.Cert of Currency | - Business Name and ABN needs to match. If it doesn't match, government certified evidence must be provided to link the ABN or business names together. This is ideally a letter or download from ABR showing the linkage
- The minimum amount for Professional Indemnity Insurance is $10,000,000 AU
- If the policy amount is not in AUD a conversion at the time of processing is to completed to ensure the non AUD amount is greater then the 10,000,000 AUD amount
- Must be current
- Must state one of the accepted types as listed in the below table
- If the policy does not list one of the accepted types a Product Disclosure Statement (PDS) is required before escalation.
- If PDS states on of the accepted types – the insurance and PDS needs to be uploaded together for approval
- If the PDS does not specify Professional Indemnity it will be escalated
| Accepted Types |
|---|
| Professional Indemnity | | Errors and Omissions | | Professional Liability |
Self Insurance
If the company indicates 'Self Insured' = Letter to be uploaded from the governing body which has approved the self insurance;
Please click on the following link to see the current list of approved Self Insured companies in Australia: http://www.srcc.gov.au/self_insurance/current_licensees. | - Issue Date = Start of coverage date listed on policy
- Expiry Date = Coverage end date listed on policy (If the policy is paid on a monthly basis the expiry will be set when the next payment is due)
- Insurer = Insurer will be listed in policy content
- Policy Number = as specified on the policy
- Item = Professional Indemnity
- Amount Description = Same as item
- Amount = as specific on policy (must for a minimum of $10,000,000 AU)
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