Practice Policy

What Kind of Cover is Provided

The NZMII Practice Policy is a legally binding contract of insurance which provides GP and other health professional practices with comprehensive insurance protection.

The NZMII Practice Policy covers two main risks in respect of claims which fall within the scope of coverage:

• The risk of liability to damages or compensation; and 
• The costs of legal defence of any claim for damages or compensation or any investigation or other legal process;

The NZMII Practice Policy also provides cover for:

• The costs of travel and accommodation and loss of earnings arising from the need to attend an investigation or other legal process
• Adverse costs awards
• Punitive damages

How Much is the Practice Covered For?

The NZMII Practice Policy insurance will pay up to $4,000,000 per annum subject to a limit of $2,000,000 per incident. Included is cover for up to $250,000 in respect of punitive and exemplary damage claims. The insurance will also help pay up to $15,000 per annum for loss of earnings and up to a maximum of $20,000 for award of costs made.

1. Settlement/damages: $1,000,000 any one claim and $2,000.000 in the aggregate (including punitive or exemplary damages to a maximum of $250,000 for any one Claim and in the aggregate)
2. Legal expenses costs: $1,000,000 any one claim and $2,000.000 in the aggregate.
3. Reimbursement for travel and accommodation costs and for loss of earnings: Up of $1000 per day or part day to a maximum of $15,000 in total, any one Claim and in the aggregate.
4. Award of costs: To a maximum of $20,000 for any one Claim and in the aggregate.

Is the Practice Covered for Past Activities?

The NZMII Practice Policy is a claims-based insurance policy. This means that apart from current or pending claims or complaints against you, the NZMII Practice policy will respond to any claims arising from medical duties or functions performed by the practice prior to you taking the insurance cover.