MIPS' indemnity policy specifically excludes:
- Tax audits, however you can request assistance through MIPS Protections
- Replacement or restoration of lost medical records
- Fines and penalties (cover for fines and penalties is not usually insurable under any indemnity policy in Australia).
When making a indemnity insurance comparison in Australia it is important to consider both the policy features and if the pricing includes the same retroactive cover.
MIPS Protections
Where MIPS' indemnity policy cannot respond, MIPS provides assistance through MIPS Protections.
MIPS Protection provides discretionary assistance to members for disputes that arise in connection with employment, training, industrial relations and non-clinical registration and board issues. MIPS Protections applies to non-medical indemnity matters.
Find out more about, and see examples of, MIPS Protections cover.
Membership Quote
This is a summary only, you should read the full list of member benefits, including any terms and conditions which are outlined in the Member Handbook.
Understanding retroactive cover
Claims-made and medical indemnity insurance in Australia
Medical indemnity insurance in Australia is provided on a claims-made basis. This approach is different to some other countries, such as the UK, where cover is generally provided on a claims-incurred basis.
Claims-made insurance policies cover claims made in the period of insurance and notified to the insurer in the period of insurance.
This means that you are only covered under these insurance policies if you are a member at the time the claim is made against you and reported to the insurer. You are NOT covered for incidents prior to your retroactive date or previously known to you or matters that have been notified to you or your previous insurer or medical/dental defence organisation.
The MIPS Indemnity Insurance Policy is a claims-made insurance policy. You must notify MIPS of any claim made against you or any investigation or incident as soon as reasonably practicable after you first become aware of the claim or investigation.
Incident covered under claims made

Claim accepted. The claims occurs after the retroactive date and is reported within the membership (policy) period.
Incident not covered under claims made

Claim rejected. Claim reported after membership (policy) period cancellation, even though incident occurred within membership period.