Professional Indemnity FAQ

Continuous Cover Extensions - When do they apply?

What is "continuous cover"? When do we offer this?

Many insurers are under the impression that this is some sort of loyalty bonus. Well this is not really true. There is however an advantage to stay with the current insurer and that is due to the situation of a known circumstance.

It means that if someone who was insured with us in unbroken successive periods notifies a claim circumstance in the subsequent period which should have been notified in the earlier period, then that claim will be covered under the latter policy but there remains conjecture amongst many insurers. Is it subject to the lesser limit of the two applicable policies. Or is it the policy that it should have been reported in? Issues of 'non-disclosure' and 'known circumstances' exclusions will not be raised simply because an insured does not need to disclose matters that ought to be of common knowledge, however prejudice due to delayed notification may be taken into account in the adjustment of the claim.

Then we have the added situation of having clauses found in the some wordings saying that if in the third year the insured then goes to a different insurer, that allowance for the known circumstance will be void. This applies even if the insurer decides to decline to offer renewal. There is some legislation that may be tested on this. There are also some insurers now giving continuous cover if the insured was with a different insurer the year before. A brilliant marketing move.

Latest News

CPR joins Ausure

We would like to announce to all our Clients, Prospective Clients, Suppliers and Insurers, that Cooper Professional Risks Pty Ltd trading as CPR Insurance Services, will be leaving National Adviser Services Pty Ltd (NAS) and joining Ausure Pty Ltd as a Corporate Authorised Representative from 5 March 2018.

Fundamentally, there is no difference to you, except our Invoices will look a little different, and the Banking details will be in a different name and account number. Everything else at CPR stays the same.

There are a number of reasons we have made this decision, but the primary reason is for what we believe is best for our clients.

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Special offer to CPR Insurance clients

Employsure are providing a FREE Business Health Check to all our clients and gives you the opportunity to receive an analysis of the health and safety requirements in your workplace. Also. Employsure  will review your employment agreements as well as your wage rates helping you to avoid workplace claims.

Ordinarily this would cost you at least $1,250 but because you are a CPR Insurance client, it is free!

It involves the following review for you.

SAFECHECK

A specialist Work Health and Safety Consultant will visit your workplace and carry out:

A review of your business’ current work health and safety policies, procedures and systems to identify areas of concern or non-compliance

Following the review, you will receive a report summarising the findings and the health and safety

Status of your workplace

WAGE CHECK

A Wages Adviser will review your rates of pay and produce a Wage Check report.

The review will be conducted against the industrial instrument applicable

A report will be supplied advising if the wages are compliant and what steps to take to achieve compliance

CONTRACT REVIEW

A Document Consultant will review an employment agreement and provide recommendations.

The review will highlight compliance issues with the Fair Work Act 2009 as well as best practice

The report will make recommendations to achieve compliance and provide protection to your business.

This will remove any areas of potential dispute and risk

So what do you have to lose? Contact us on 07 3123 1137 and arrange 

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