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02 Dec 2019
The Psychology Board of Australia’s (the Board) revised Professional indemnity insurance arrangements registration standard (PII) came into effect on 1 December 2019.
The revised PII registration standard was published on 31 July 2019 to give practitioners time to understand the revised requirements. You should make sure you have read and understand the revised registration standard1 and know what you need to do to meet it. Some of the main changes are outlined below and you can read the registration standard in full on the Standards and Guidelines page of the Board’s website.
Every time you renew your registration you must declare you have met and will continue to meet the PII registration standard requirements.
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 Board has published more information including FAQ’s to assist practitioners to understand the PII requirements.