Sydney-based insurtech Upcover has launched professional indemnity and public liability insurance for nurses, with monthly payment options available.

It provides comprehensive cover for nurses, nurse practitioners, in-patient nurses, doulas, and nursing students and has been tailored for nurses requiring insurance with the Australian Health Practitioner Regulation Agency (AHPRA).

With limits up to $20 million, it covers nurses for IV infusions, cosmetic injectables and respite care services, physical injury, error of judgment, trips, slips & falls, negligence, defamation, bad professional advice, third party damage, and breaches of privacy legislation from a loss of personal information.

CEO and co-founder Skye Theodorou, an Insurtech Australia Director, says the new product targets Australia’s 350,000 nurses and meets Nursing and Midwifery Board of Australia requirements.

“A large portion of our customers fall into this category and we’re constantly looking for ways to offer helpful general advice for all occupations,” she said.

The insurtech says many nurses may be unaware that insurance offered by their union is 'umbrella' insurance which only provides cover if nurses have another insurance policy that doesn’t respond to a claim.

Founded in 2019, Upcover offers coverage for small businesses and sole traders underwritten by ProRisk under an authority to bind cover on behalf of Swiss Re. In July, it raised $4.7 million in seed funding and debt in a round backed by QBE LMI GM Patricia Priest and former Zurich Insurance Global Life CEO for APAC Colin Morgan.

Upcover plans to add tools of trade, glass, personal accident and management liability cover this year. It already offers live professional indemnity, public and products liability, cyber privacy liability, covid bounceback insurance and commercial motor.