HOME SUSTAINABILITY ASSESSORS & ENERGY RATERS

In conjunction with leading, APRA approved insurer, we offer a tailored policy wording providing cover which is compliant with your requirements under the Green Loans Program, as set out by the Department of the Environment, Water, Heritage and the Arts (DEWHA).   Professional Indemnity and Public Liability insurances under the facility provides broad policy coverage with extremely competitive premiums, as per the below indications.  Premiums Indications per Insured Contractor: Option 1)   Individual / Sole Trader                    Professional Indemnity Insurance – Limit of Indemnity $2,000,000                    Liability Insurance – Limit of Liability $10,000,000                    Premium $682.00 (includes GST, plus Stamp Duty) Option 2)   Company (Individual Contractor)                    Professional Indemnity Insurance – Limit of Indemnity $5,000,000                    Liability Insurance – Limit of Liability $10,000,000                    Premium $814.00 (includes GST, plus Stamp Duty) per person                    Each additional named insured who is an employee of the company,                 can be included incurs for an additional $300.00 (includes GST, plus                  Stamp Duty) We invite you to obtain a quotation and compare to your current insurance arrangements.   Optimum Insurance Services Pty Ltd have access to an insurance facility specifically designed to suit the requirements of Home Sustainability Assessors and Energy Raters providing services under the Green Loans Program in Australia.

LIKE A QUOTATION?

Simply complete a proposal form and return to us by email, fax or post. 

     Home Sustainability Assessors & Energy Raters - Insurance Proposal Form 
     
In most cases we can provide you with our quote within 1 working day. 

If you would like to discuss your specific needs or have any questions regarding completion of the proposal form, please do not hesitate to contact us.

FREQUENTLY ASKED QUESTIONS

Why do I need Professional Indemnity and Public & Products Liability insurance?
If you are a professional conducting Home Sustainability Assessments (HSAs) under the Green Loans program, the Department of Environment, Water, Heritage and the Arts requires that you have these insurances as part of your contract with the Commonwealth.

The minimum levels of cover required are as follows:

·         Public Liability                    $10,000,000

·         Professional Indemnity         $2,000,000 (Individuals), $5,000,000 (Companies)

What about cover for my vehicle(s), equipment and office?
Optimum Insurance Services can provide you with a range of insurance solutions providing broad coverage at competitive premiums for your vehicle(s), equipment and office.

In addition, we can also arrange cover for the most important assets in your business, you and your staff. Please contact us for assistance with Workers’ Compensation insurance, Personal Accident insurance, and Life insurance.

What is Professional Indemnity insurance?
Professional Indemnity insurance protects an individual and/or company against claims made against them by a third party for financial compensation arising from a breach of their professional duty.

Does your current policy provide adequate insurance cover?
It is important that you understand the extent of your policy coverage and your insurance requirement. Many insurance policies provide limited cover, for example, in is quite common for some insurance companies to provide limited or no cover for Personal Injury and/or Property Damage. Depending on the Insured Occupation, there may or may not be an exposure that requires this cover.

Policy coverage is always subject to the terms, conditions and exclusions of the insurance contract and policy wording provided by the insurer. 

The importance of understanding the extent of your policy coverage and it’s limitations is vital to ensure that you are adequately protected in the event a claim should arise from a breach of your professional services.

Insurers Policy Wordings       
Each insurance company has their own policy wording. This means that coverage can vary considerably from one insurer to another.  It is important that you compare each policy based on the appropriateness of cover for your individual business needs. 

What is a Claims Made Contract?
Professional Indemnity policies are “Claims Made” policies, that is they only cover Claims made or Known Circumstances that you become aware could reasonably be expected to give rise to a claim that arise during the period of insurance. Acts or omissions may have occurred in a prior period and, as long as the act or omission, was after the retro-active date, the policy will extend to those prior acts.  

It is essential to maintain continuity of Professional Indemnity insurance cover (no gaps in the period of cover) as Claims made against you or Circumstances of which you become aware could give rise to a claim, will not be covered if they are not disclosed within the period of insurance where they first arise.  

If there is any claim or potential claim or even a circumstance that could reasonably be expected to give rise to a claim, it should be reported to your insurer immediately it is known, regardless of your own view as to fault. If you know of a claim or circumstance and it is not reported within the insurance period in which it arises your insurance policy is unlikely to respond.

‘Known Circumstances’  
A 'known circumstance' could be defined as any fact, situation or circumstance, which a reasonable person in the insured’s professional position would have thought, might result in someone making a claim against him/her. Therefore if a claim arises after the inception date of the policy from a fact, situation or  circumstance that the insured knew or should have known, at the time of the commencement of the policy that might give rise to a claim, it would normally be excluded as it arose from a ‘known circumstance’.  

The Importance Of Notifying All Known Circumstances
By notifying all circumstances that might give rise to a claim, during a policy period, an insured can get the benefit of their statutory rights under Section 40(3) of the Insurance Contracts Act 1984 (the Act). Section 40(3) provides an insured with statutory rights to notify a circumstance or insured, to an insurer, during the currency of the policy. If a claim eventuates against an insured from the notified circumstances, then the insurer cannot deny indemnity, despite the fact that the claim arose outside the period of insurance. Therefore, any fact, situation or circumstance, which a reasonable person in the insured's professional position would have thought might result in someone making a claim against them, should be notified to their current insurer. 

Changing From One Insurer To Another (Notification Of Known Circumstances)
If you change insurers, you will need to notify your insurer of every conceivable circumstance before the expiry date of your policy. If this is not done, and if a claim was to occur in the future from a circumstance not previously notified, you may be left uninsured, with neither the previous or the current insurer accepting liability for the claim. The prior insurer may deny the claim as the insured failed to notify the circumstance or claim during the period of insurance