Just this month, the new NDIS Quality and Safeguarding Framework commenced in NSW and SA, with a new requirement for disability-sector service and care providers to obtain minimum levels of insurance.
Gallagher, the endorsed insurance broker for NDS members, said the new requirement is to ensure service providers and their clients have direct protection from the risks they face, by matching the organisation’s risk profile with the appropriate cover – ideally with the advice of professional brokers.
Pamela Howarth, account executive at Gallagher, said providers should take up professional indemnity, malpractice insurance, public and products liability insurance, and directors and officers’ insurance, all with adequate upper limits, to meet the minimum requirement, and urged them to seek the help of brokers to assess other requirements.
“Today’s insurance products allow providers of all sizes to shift the very real risks they face day-to-day to the balance sheet of an insurer, giving them the peace of mind to focus on the good work they do,” Howarth said. “The work we do with NDS and its members extends beyond just the placement of insurance. Having a trusted advisor makes a difference, especially for inexperienced insurance buyers and our role is to help them make an informed decision.”
