Professional Indemnity

PROFESSIONAL INDEMNITY FOR PSYSSA MEMBERS

PsySSA has negotiated a comprehensive indemnity insurance package on behalf of its members through FNB Brokers. Professional Indemnity Insurance, underwritten by iTOO Special Risks (Pty) Ltd in association with Hollard Insurance Company (Pty) Ltd through FNB Brokers, is a non-life insurance policy designed to indemnify the insured professional against pecuniary losses arising from:

• A Negligent Act
• Error or omission, which causes loss to be suffered by his/her client or a third party.

Option (A) excluding Public Liability cover: The Medical Malpractice/ Professional Indemnity cover options for Qualified Psychologists are as follows:

1) Limit of Indemnity: R2 500 000.00 in the aggregate
Plus 1 Reinstatement of R2 500 000.00
Excess: R7 500.00 each and every claim
Annual Premium: R2 099.00 per member (Incl. 15% VAT, 20% Broker Commission and R50.00 Broker Administrative Fee)

2) Limit of Indemnity: R3 000 000.00 in the aggregate
Plus 1 Reinstatement of R3 000 000.00
Excess: R7 500.00 each and every claim
Annual Premium: R2 432.00 per member (Incl. 15% VAT, 20% Broker Commission and R50.00 Broker Administrative Fee)

3) Limit of Indemnity: R5 000 000.00 in the aggregate
Plus 1 Reinstatement of R5 000 000.00
Excess: R7 500.00 each and every claim
Annual Premium: R2 830.00 per member (Incl. 15% VAT, 20% Broker Commission and R50.00 Broker Administrative Fee)

A deductible of R7 500.00 each and every claim in respect of online therapy / telepsychology during the COVID-19 Pandemic however an increased deductible of R15 000.00 each and every claim in respect of online therapy is applicable Pre / Post Covid-19 Pandemic.

Option (B) including Public Liability cover: The Medical Malpractice/ Professional Indemnity cover options for Qualified Psychologists are as follows:

4) Limit of Indemnity: R2 500 000.00 in the aggregate
Plus 1 Reinstatement of R2 500 000.00
Excess: R7 500.00 each and every claim
Annual Premium: R2 604.00 per member (Incl. 15% VAT, 20% Broker Commission and R50.00 Broker Administrative Fee)

5) Limit of Indemnity: R3 000 000.00 in the aggregate
Plus 1 Reinstatement of R3 000 000.00
Excess: R7 500.00 each and every claim
Annual Premium: R3 091.00 per member (Incl. 15% VAT, 20% Broker Commission and R50.00 Broker Administrative Fee)

6) Limit of Indemnity: R5 000 000.00 in the aggregate
Plus 1 Reinstatement of R5 000 000.00
Excess: R7 500.00 each and every claim
Annual Premium: R3 853.00 per member (Incl. 15% VAT, 20% Broker Commission and R50.00 Broker Administrative Fee)

A deductible of R7 500.00 each and every claim in respect of online therapy / telepsychology during the COVID-19 Pandemic however an increased deductible of R15 000.00 each and every claim in respect of online therapy is applicable Pre / Post Covid-19 Pandemic.

The Extensions are applicable in the aggregate, and form part of the Limit of Indemnity:

• Breach of Confidentiality: R250 000.00 with excess of R2 500 for each and every claim – applies to option (A) and (B)
• Business Identity Theft: R250 000.00 with Nil excess for each and every claim – applies to option (A)
• Business Identity Theft: R500 000.00 with Nil excess for each and every claim – applies to option (B)
• Defamation: R100 000.00 with excess of R2 500.00 for each and every claim – applies to option (A)
• Defamation: R250 000.00 with excess of R2 500.00 for each and every claim – applies to option (B)
• Documents: R250 000.00 with excess of R2 500 for each and every claim – applies to option (A) and (B)
• Additional reporting period / Run-Off Cover for 36 months (PsySSA Members)
• HPCSA / Other Statutory Body Costs: R500 000 per policy period with excess of R5 000 for each and every claim – applies to option (A) and (B)
• Statutory Defense Costs (Sub-Limit of Public Liability Section): not applicable to option (A)
• Wrongful Arrest (Sub-Limit of Public Liability Section): not applicable to option (A)

Extensions applicable to Public Liability Cover only: (Only applicable to Option B)

• Statutory Defence Costs (Sub-Limit of Public Liability Section): R250 000.00 with an excess of R 2 500.00 for each and every claim
• Wrongful Arrest (Sub-Limit of Public Liability Section): R250 000.00 with an excess of R 2 500.00 for each and every claim

Option (C): The Medical Malpractice/ Professional Indemnity cover option for Students / Intern Psychologists is as follows:

Limit of Indemnity: R2 500 000.00 in the aggregate
Excess: R7 500.00 each and every claim
Annual Premium: R1 095.00 per member (Incl. 15% VAT, 20% Broker Commission and R50.00 Broker Administrative Fee)

• Breach of Confidentiality: does not apply to Students/ Interns
• Business Identity Theft: R500 000.00 with Nil excess for each and every claim
• Defamation cover does not apply to Students/ Interns
• Documents cover does not apply to Students/ Interns
• HPCSA Costs / Other Statutory Body Costs R250 000.00 with an excess of R2 500.00 for each and every claim excess
• Statutory Defence Costs (Sub limit of Public Liability section) does not apply to Students / Interns
• Wrongful Arrest (Sub-limit of Public Liability section) does not apply to Students / Interns
• The additional reporting period and reinstatement of cover does not apply to Students / Interns
• Students and Interns must be under supervision by a fully qualified professional in their field of study, where the professional is always at hand to provide guidance, check the progress of treatment and check proposed treatment plans prior to implementation thereof where necessary.

Please note: As per the HPCSA Professional Indemnity Insurance is no longer mandatory, however, members are strongly advised to get covered.