Protecting professional practice:
Nurses face various risks in their professional practice, including the potential for claims of negligence or malpractice. Professional indemnity insurance (PII) provides financial protection against such claims, covering legal costs and any compensation awarded. This ensures that nurses can continue their practice without the fear of financial ruin due to unexpected legal issues.

For nurses who work for a medical facility, staff may be covered under the organisation's insurance policy. You should always check with your employer to be sure. For nurses who work as independent contractors, a private insurance policy will be needed.

Meeting legal requirements with Ahpra:
The Australian Health Practitioner Regulation Agency (Ahpra) mandates that nurses have appropriate PII arrangements as part of their registration standards. This requirement is in place to protect both the nurse and the public, ensuring that any professional indemnity, public liability and product liability is adequately covered. Compliance with Aphra’s standards is essential for maintaining registration and the ability to practice legally.

Professional Indemnity Insurance (PII):
Professional indemnity insurance protects nurses from legal claims arising from their professional duties. It covers claims of negligence, malpractice, errors, or omissions that result in harm to patients. This includes legal defence costs, and any compensation awarded. Nurses are legally required to have this insurance as part of their registration with Ahpra to protect their practice and patients.

Public Liability Insurance:
Public liability insurance covers nurses in case a third party, such as a patient or visitor, is injured or their property is damaged as a result of the nurse's activities or negligence. This could include situations like a patient slipping and falling in a healthcare facility or home environment. Public liability insurance provides coverage for legal costs and compensation related to such incidents.

Product Liability Insurance:
Product liability insurance applies to claims arising from the use of defective or harmful products, such as medical equipment or supplies used by nurses. For example, if a nurse uses a faulty thermometer or contaminated wound dressings that cause harm to a patient, product liability insurance protects the nurse from being held personally responsible. In most cases, this insurance is held by the product manufacturer, but it's relevant if the nurse is seen as responsible for using the product.

At Guild Insurance we offer combined insurance with professional indemnity insurance, public liability insurance and product liability insurance together in one policy.

Assessing coverage needs:
Choosing the right insurance involves evaluating the specific risks and requirements of your professional practice. Consider the following steps:

• Evaluate professional risks: Identify the potential risks associated with your practice, including the likelihood of legal claims arising from negligence or errors.
• Understand legal and regulatory requirements: Ensure that your insurance meets the standards set by Ahpra and other relevant regulatory bodies. This includes verifying that the policy covers all necessary aspects of your professional duties.
• Compare insurance providers: Look for insurers that specialize in professional indemnity insurance for healthcare professionals. Compare policies to find one that offers comprehensive coverage at a reasonable cost.
• Consult with a specialist: If you are unsure of the cover you require, please contact us at 1800 810 213 to speak to an insurance specialist.

By thoroughly assessing your coverage needs and understanding the requirements of your profession, you can choose an insurance policy that provides adequate protection and peace of mind.

Professional indemnity insurance covers you for your civil liability when a claim arises from a breach of your professional duty. Guild combines Professional Indemnity, Public Liability and Product Liability in one policy.

Business insurance is designed to protect business risk, for example, if you ran your own practice and required cover for contents, liability or business interruption cover.

You may have an Australian Business Number (ABN) for your contract work as a nurse. However, be sure to understand whether you need insurance as a professional to cover your professional duties as a nurse or as a business entity.