PI and PL Insurance for Trainers and Assessors
If you are a Trainer and/or Assessor in the Transport, Construction, Plant, Aviation or other related industry, and are required to have Professional Indemnity & Public Liability Insurance, you need to read this article!
In conjunction with Austbrokers AEI and Vero Insurance Limited, TRANZnet members are now able to access Professional Indemnity (PI) and Public Liability (PL) insurance at a very competitive price.
(To apply for Membership click here)
With changes to the name of licenses for various types of plant such as forklifts, elevated work platforms, etc. as well as HRW areas all coming under the new "Licence to Perform High Risk Work" name, a lot of insurance companies could not understand that only the name had changed, and in fact, training and assessment for these licenses were becoming more stringent. The role of the Regulator in each jurisdiction as an "overseer" of the activity was virtually ignored.
Unfortunately the "High Risk" part of the name caused most insurance companies to state that this would require a separate policy and would dramatically increase prices. Another problem was the perception of Risk associated with our member's Dangerous Goods training.
After meeting with representatives from Austbrokers AEI and Vero Insurance Limited, we were able to demonstrate that training and assessment in these areas usually occurred in controlled environments with reduced risks, unlike car and heavy vehicle training and assessments that are conducted in with the general public.
Consequently Vero Insurance Limited came back with a very attractive PI and PL policy that includes a Statutory Liability Optional Extension. The cover includes all of our training activities, and also covers the provision of advice by consultants in these same areas.
This is the best coverage and value for money that we can find on the insurance market!
The policy is quoted on a number of criteria such as turnover, how many trainers/assessors under the policy, etc.
It is available to small one person operations up to larger national RTOs, providing the owner of the entity is a financial member of TRANZnet.
A copy of the Professional Indemnity Policy is available for your perusal.
Don't delay, download and complete a proposal form and send it to Jim Bailey of Austbrokers AEI (his details are on the proposal form).
Once he receives your proposal, he will then prepare a quote and forward it to you.
The policy will normally run from 1 July to 30 June, but can be started at any time pro-rata, to run through to 30 June the following year.
New members joining throughout the year will also be eligible on the same pro-rata basis.