RE: MEDICAL MALPRACTICE /PROFESSIONAL INDEMNITY FOR PSYSSA MEMBERS

As Medical Malpractice / Professional Indemnity covers is mandatory for all professional Psychologists, please see the terms and conditions below, offered by FNB Insurance Brokers, the Policy is underwritten by Hollard Insurance Company (Pty) Ltd.

 “All registered psychologist, must obtain professional indemnity cover, which must be fully maintained at all times” as per the Health Professional Act 56 of 1974.

Cover commences from 1 January to 31 December.

The terms and conditions are as follows:

Limit of Indemnity R2 500 000 in the aggregate (Includes one Reinstatement)
Deductable/Excess R7 500 each and every claim
Premium  R1135.00 (VAT Incl.) per member, per annum

The above mentioned Limit of Indemnity (including one reinstatement) can be increased at an additional premium as follows:

  • R3 000 000 in the aggregate = R1310.00 per member, per annum
  • R5 000 000 in the aggregate = R1525.00 per member, per annum
  • Deductible/Excess: R7 500 each and every claim

Optional extras: Public Liability cover

  • Indemnity Limit           : R2 500 000 in the aggregate @ R275 per member, per annum
  • Indemnity Limit           : R3 000 000 in the aggregate @ R355 per member, per annum
  • Indemnity Limit           : R5 000 000 in the aggregate @ R550 per member, per annum
  • Deductible / Excess: R750.00 each and every claim
  • Extensions applicable in the aggregate, and forms part of the Limit of Indemnity:
  • Statutory Defense Costs: R100 000 per claim/per policy period
  • Wrongful Arrest: R100 000 per claim/per policy period
  • Defamation: R100 000 per claim/per policy period
  • Deductable /Excess : R2 500.00 each and every claim.
  • Additional reporting period for 36 months (Psyssa Members Only)
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