New PI insurance standard
June 15, 2010
THE new national Pharmacy
Board of Australia has published
details of its proposed Professional
Indemnity Insurance Registration
Standard, which is set to become
effective from 01 July as part of the
new national registration scheme.
The standard has been released
later than other parts of the
proposed registration standards
after the initial PI plan was rejected
by the Ministerial Council, on the
basis that a common approach by
the National Boards of all the
health professions should apply to
the mandatory rego standards.
The board says it believes that
the revised proposal “appropriately
accommodates pharmacists in all
practice settings, including
pharmacists who practice exclusively
in an employed position who would
meet the standard by being
indemnified by their employers”.
The proposed standard also
highlights the need for pharmacists
to consider PI insurance
arrangements separate from their
employer in cases where they
practice in locations other than
their principal place of employment.
“Practice may or may not be
remunerated and pharmacists who
provide advice about medicines in
situations not related to their
employment arrangements must be
indemnified and may require
additional coverage to ensure
compliance with the standard and
the National Law,” the board said.
Under the proposed PI standard,
all registered pharmacists,
including provisionally registered
pharmacists, are required to
maintain professional indemnity
insurance cover of not less than
$20 million for any single claim.
Policies must include suitable
‘run-off’ cover once the pharmacist
ceases to practice, and applicants
for renewal of general registration
must declare that they have not
practised as a pharmacist during
the previous year without all
professional indemnity insurance
requirements being met.
The above article was sent to subscribers in Pharmacy Daily's issue from 15 Jun 10To see the full newsletter, see the embedded issue below or CLICK HERE to download Pharmacy Daily from 15 Jun 10
