POSSIBLE CHANGES TO INSURANCE RATES 2005

HypnosisAustralia, 2 September, 2005

By Dr Tracie O'Keefe DCH, Clinical Hypnotherapist, Psychotherapist & Counsellor
Editorial Director of HypnosisAustralia Online.

Australia has gone through a difficult time in recent years with higher insurance costs for professional liability for hypnotherapy. Since the collapse of HIH Insurance company four years ago, a profusion of different medical and paramedical practitioners have seen a phenomenal rise in the cost of covering their practices. Adding hypnotherapy to a practice incurred what was often 100% loading to the premium.

It is also likely that the poor regulation of hypnotherapy was partly responsible for the paranoia also exhibited by the insurance companies. Regulation and accountability, however, are the present buzz words among hypnotherapists, counselors, psychotherapists and their professional associations, with all taking action to demonstrate how they are organising their professions.

AON National Professional and Consumers Series for Risk Management are undoubtedly the biggest brokers in the industry. Phillip Armstrong, national manager of the Australian Counselling Association (ACA), has been liaising with both AON Insurance and Guardian to abolish the excess on hypnotherapy insurance for the next year. It is understood that discussion is still underway but the abolition of the excess is looking hopeful. ACA has more than 2500 members, even though only a small number practise hypnosis, but numbers, it seems, count at the negotiating table.

For many hypnotherapists the insurance premiums are due in the spring so it will be worth practitioners shopping between the big two companies before they settle their policies. Even those who often settle early might like to enquire exactly when a possible abolition might take place and schedule their paperwork accordingly.

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©HypnosisAustralia, September, 2005