10 Dec 2015
A revised registration standard for Professional indemnity insurance (PII) arrangements has today been published by the Osteopathy Board of Australia.
The revised standard will come in to effect on 1 July 2016 and will replace the standard that is currently in place. This standard will apply to all registered osteopaths except those with non-practising registration. Practitioners will need to meet the obligations of the revised standard either
This registration standard does not apply to the current cycle of renewals (that is, it does not apply to late applications for renewal received in December).
The key change in the revised PII arrangements registration standard is that the minimum amount of cover specified in the current standard ($20 million) has been removed from the standard. The revised standard aims to take a more contemporary and flexible approach, and requires registrants who are taking out their own insurance to do an objective self-assessment, informed by policies provided by insurance providers, to ensure they have adequate and appropriate insurance arrangements or professional indemnity cover for their practice. Further changes have been made to improve the clarity and workability of the standard, and understanding of the requirements and obligations of registrants. There have been some minor changes to the requirements relating to run-off and retroactive cover to avoid duplication and provide more clarity.
An insurer providing PII to osteopaths must generally be registered with the Australian Prudential Regulation Authority (APRA) or be a Lloyd’s underwriter (APRA’s website contains a list of registered general insurers).
National Boards will shortly publish more information about the revised PII arrangements registration standard which explains the requirements and what is expected of practitioners, in addition to some common FAQ.
The revised standard was approved by the Australian Health Workforce Ministerial Council on 27 August 2015 and was reviewed as part of a scheduled review of standards. A public consultation was held as part of the review, and the submissions to public consultation are published on the Board’s website. A brief consultation report which outlines the public consultation, rationale for any changes and proposed way forward (including areas where further work is planned) has also previously been published by National Boards.
More information about the revised PII arrangements standard, including a brief consultation report and FAQs, can be found on the Professional indemnity insurance arrangements page of the AHPRA website.