The Federal Government is echoing a message it’s been pushing for years regarding the availability of affordable professional indemnity (PI) cover. It is encouraging groups to work with the Professional Standards Council to reduce premiums and become eligible for a cap on civil liability.

But this time the message is a little different. The NSW Bar Association has become the first professional body to get accreditation under Commonwealth law. In the past groups had to seek professional accreditation with states and territories separately.

Despite the fact that PI premium rates have reduced substantially for most professions over the past 18 months, Assistant Treasurer Peter Dutton says the Government is “committed to supporting access to affordable professional indemnity cover”.

“I welcome applications for prescription at the Commonwealth level by other professional groups that have worked with the Professional Standards Council to develop strong risk management practices that focus on the best outcomes for their customers” he said.

“One way this can be achieved is for professional groups to demonstrate a genuine commitment to consumer protection, professional development, risk management and complaints-handling.”