Professional Indemnity

PROFESSIONAL INDEMNITY FOR PSYSSA MEMBERS

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PsySSA has negotiated a comprehensive indemnity insurance package on behalf of its members through FNB. Professional Indemnity Insurance as provided by Hollard through FNB Insurance Brokers is designed to indemnify the insured Professional against pecuniary losses arising out of:

• 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 in the aggregate
Plus 1 Reinstatement of: R2 500 000
Excess: R7 500 each and every claim
Annual Premium: R1 999.00 per member (Incl. 15% VAT and Broker Administrative Fee
of R50)

2) Limit of Indemnity: R3 000 000 in the aggregate
Plus 1 Reinstatement of: R3 000 000
Excess: R7 500 each and every claim
Annual Premium: R2 316.00 per member (Incl. 15% VAT and Broker Administrative Fee
of R50)

3) Limit of Indemnity: R5 000 000 in the aggregate
Plus 1 Reinstatement of: R5 000 000
Excess: R7 500 each and every claim
Annual Premium: R2 695.00 per member (Incl. 15% VAT and Broker Administrative Fee
of R50)

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 in the aggregate
Plus 1 Reinstatement of: R2 500 000
Excess: R7 500 each and every claim
Annual Premium: R2 480.00 per member (Incl. 15% VAT and Broker Administrative Fee
of R50)

5) Limit of Indemnity: R3 000 000 in the aggregate
Plus 1 Reinstatement of: R3 000 000
Excess: R7 500 each and every claim
Annual Premium: R2 943.00 per member (Incl. 15% VAT and Broker Administrative Fee
of R50)

6) Limit of Indemnity: R5 000 000 in the aggregate
Plus 1 Reinstatement of: R5 000 000
Excess: R7 500 each and every claim
Annual Premium: R3 669.00 per member (Incl. 15% VAT and Broker Administrative
Fee of R50)

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 the excess of R2 500 for each and every claim n
• Business Identity Theft R250 000.00 with Nil excess applies to option (A)
• Business Identity Theft R500 000.00 with Nil excess applies to option (B)
• Defamation R100 000.00 with the excess of R2 500 for each and every claim applies to option (A)
• Defamation R250 000.00 with the excess of R2 500 for each and every claim applies to option (B)
• Documents R250 000.00 with the excess of R2 500 for each and every
• Additional reporting period / Run-Off Cover for 36 months (PsySSA Members)
• HPCSA / Other Statutory Body Defense Costs: R500 000 per policy period with the excess of R5 000 for each
and every claim

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

• Statutory Defense Costs R250 000 with an excess of R 2 500 for each and every claim (Sub-Limit of Public
Liability Section)
• Wrongful Arrest R250 000 with an excess of R 2 500 for each and every claim (Sub-Limit of Public Liability
Section)

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

Limit of Indemnity: R2 500 000 in the aggregate
Excess: R7 500 each and every claim
Annual Premium: R1042.00 per member (Incl. 15% VAT and Broker Administration Fee of R50)

• Breach of confidentiality does not apply to Students/ Interns
• Business identity theft R500 000.00
• Defamation cover does not apply to Students/ Interns
• Documents does not apply to Students/ Interns
• HPCSA costs / other statutory Body costs R250 000.00 with a R2 500.00 each and every claim excess
• Statutory Defense Costs (Sub limit of Public Liability section) does not apply to Students / Interns
• Wrongful Arrest (Sub-limit of Public Liability section) is not applicable
• 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.