• Run-off insurance cover

  • Comprehensive run-off insurance cover – for your ongoing peace of mind and protection

    When you’re a doctor planning to retire or have a break from medical practice, you have a couple of options to consider for professional indemnity insurance.

    The Australian Government introduced the Run-Off Cover Scheme (ROCS) on 1 July 2004 to provide run-off insurance cover to medical practitioners who have ceased private medical practice and who satisfy specified eligibility criteria, and to the estates of deceased medical practitioners. Under ROCS, the government guarantees to pay the cost of medical indemnity insurance claims against eligible medical practitioners covered by the scheme.

    As a medical practitioner, when you become eligible for ROCS cover, your last medical indemnity insurer issues a ROCS insurance policy. The government will reimburse the insurer for any valid claims it pays under that ROCS policy. If you aren’t yet eligible for ROCS but are going to retire or take an extended break, you can apply for a Practitioner Indemnity Run-off Policy from Avant.

  • Are you eligible for our retirement reward plan?*

    The Retirement Reward Plan* is one way we share our financial success with members. The plan gives us the ability to return surplus capital to eligible members by way of dividend, when they permanently retire from paid medical practice.

    Find out more >>
    Larry Fingleton Retire Avant menber
  • Run-off Cover Scheme or Practitioner Indemnity Run-Off?

  • A medical practitioner becomes eligible for ROCS if they:

    • are 65 or over and have retired from private practice; 
    • are under the age of 65 and have not engaged in private practice or medical practice at any time for the preceding 3 years; 
    • have ceased practising due to permanent disability; 
    • are deceased (their estate is eligible for ROCS); 
    • leave Australia after working under visa class 422 or 457 and have left Australia permanently; or
    • are on maternity leave.

    Find out more here.

    Avant’s Practitioner Indemnity Run-off Policy is available to practitioners who have been members of United Medical Protection, MDAV or have held medical indemnity insurance with Avant Insurance. It is available when you:

    • permanently retire;
    • cease private practice;
    • cancel your indemnity policy for another reason; or
    • do not meet the eligibility criteria for the government ROCS scheme.

    If you plan to take a break from your career to start a family, you will need to ensure that you have the appropriate level of run-off cover to protect you from any incidents that may have occurred during your career but have not yet been notified to insurers. You may be eligible for the Government ROCS scheme. Contact Avant today on 1800 128 268 to learn more.

  • Key features of our Practitioner Indemnity Run-off Insurance Policy^

  • Up to $20 million in civil liability cover for claims, including legal defence costs incurred with our consent and any claimants' legal costs that you have been ordered to pay.

    Up to $500,000 cover for disciplinary, criminal or coronial proceedings or investigations arising from healthcare you have provided in the past.

    We will continue to cover you under in most circumstances, even if you inadvertently fail to notify us of an insurance claim, complaint or incident prior to the policy period if you have continually remained insured with us. Terms and conditions apply.

    Your policy automatically covers you anywhere in Australia, however, we will extend cover for insurance claims and legal fees which arise out of the healthcare that you provide outside of Australia (excluding the USA). This cover is subject to time limits.

    Up to $500,000 cover for disciplinary, criminal or coronial proceedings or investigations arising from healthcare you provide as a medical practitioner.

    Insurance covering you for unpaid healthcare that you provide, including acting as a Good Samaritan, writing a referral or as a volunteer at a sporting event.

  • ^Cover is subject to the full terms, conditions and exclusions of the policy.

  • Important documents

    Download the insurance policy booklet (including the product disclosure statement and category of practice guide) for Avant's Practitioner Indemnity Run-Off Insurance Policy (if you're not eligible for ROCS)
    Download the insurance policy booklet (including the product disclosure statement) for Avant's Run-Off Cover Scheme (if you're eligible for ROCS)
  • *The Retirement Reward Plan reflects the current policy of the Board for determining which members of Avant are eligible to participate in the Retirement Reward Plan and any Retirement Reward Dividends declared by Avant. The Retirement Reward Plan is entirely at the discretion of the Board and no member will be eligible to receive a Retirement Reward Dividend until such time as the Board declares a dividend in favour of that member. The Retirement Reward Plan is subject to change, suspension or termination by the Board at any time.

    #IMPORTANT: Avant travel cover for trips commencing 1 January 2019 is available under a Group Policy between QBE Insurance (Australia) Limited (ABN 78 003 191 035, AFSL 239545) (QBE) and Avant Mutual Group Limited (ABN 58 123 154 898 ) (Avant). The Policy is underwritten by QBE and Avant may receive a benefit for arranging cover. For full details including the restrictions, terms, conditions and exclusions that apply, please read and consider the Product Disclosure Statement, Avant’s Financial Service Guide and Avant’s Terms and Conditions of Travel Insurance Cover available at avant.org.au or by contacting us on 1800 128 268. An excess may apply, depending on policy and claim type. For Interns and RMOs, travel insurance is subject to registration with Avant prior to each trip.