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Important information

Duty of disclosure

Before you become a member, renew, extend, vary or reinstate your membership you must disclose to MIPS anything that you know, or could reasonably be expected to know, that is relevant to MIPS’ decision to provide membership to you. For example, you must disclose your previous claims history or previously unreported incidents or circumstances from your healthcare activities that could lead to complaints, claims or legal actions or Australian Health Practitioner Regulation Agency AHPRA healthcare board investigations against you. When you apply for membership you will be required to complete a series of mandatory questions including:

  • what membership classification best describes your professional practice
  • details of your registration history
  • your medical indemnity insurance history, including insurers.

Your duty of disclosure does not require you to disclose any matter:

  • that diminishes our risk
  • that is common knowledge
  • that we know or in the ordinary course of business ought to know
  • where we have waived compliance with your duty of disclosure.

If you fail to comply with your duty of disclosure, MIPS Insurance may be entitled to reduce its liability under the Indemnity Insurance Policy or other insurance covers (possibly to nil) and we may be entitled to cancel your membership. If your nondisclosure is fraudulent, your insurance cover may be void.

Explanation of membership fee

The membership fee is individually calculated based on your membership classification (including location) for your current and past practice for up to three previous membership periods. See the Member Handbook for how your membership fee is calculated.

Run-off Cover Scheme (ROCS) (medical only)
The ROCS levy amount is calculated at a rate of 5% of the medical indemnity cover premium paid for you by MIPS. For more information visit mips.com.au/rocs or see the ROCS FAQ at health.gov.au

Premium Support Scheme (PSS) (medical only)
The PSS is an Australian Government scheme designed to help eligible doctors with the costs of their medical indemnity insurance. You can make an application to receive a PSS subsidy at mips.com.au/pss

If you apply for a subsidy, PSS details will be outlined in this Member Benefit Statement. GST is not payable in relation to a subsidy. If you are advanced a subsidy, it is a Government requirement that you complete a Final Determination Statutory form verifying your ‘actual gross private medical income’ within 12 months of the relevant subsidy period. This figure will be used to determine the actual subsidy you are eligible for. Any change to your income or circumstance may result in an adjustment.  Any PSS subsidy advanced to you for which you are no longer eligible must be repaid to MIPS before MIPS will offer an invitation to apply for a renewal of membership. If you fail to repay this subsidy, MIPS is required to notify Medicare Australia which will likely impact any future entitlements to the PSS.

For more information, please visit the Department of Health website and refer to the PSS Frequently Asked questions at health.gov.au

Privacy

MIPS takes your privacy seriously. MIPS must collect, use, hold and disclose personal information to carry on its business operations. How we collect, use, hold and disclose information is governed by the Privacy Act and the Australian Privacy Principles. MIPS’ Privacy Statement is available from mips.com.au/privacy.

Cooling-off period

You may cancel your membership by notifying MIPS in writing within 30 days of membership having commenced unless you have made a claim or notification. If you exercise your right to cancel your membership, your full membership fee will be returned less any tax or duty paid on your behalf, which is not refundable to MIPS. If your membership is cancelled after the 30 day cooling off period, we will refund that part of the membership that represents the unexpired period of your membership, less an administration fee.

Copy of member declaration

I declare that I have either received or had an electronic copy made available to me of the Member Handbook Combined Financial Services Guide and Product Disclosure Statement. I agree to the terms and conditions, and any amendments from time to time, of my membership, as outlined in the MIPS Constitution. I understand that if my membership fee or other liability to MIPS is in arrears for more than one month, I shall then cease to be entitled to any benefits of membership from MIPS from the date when such membership fee or other liability fell due. I further understand that the Board may, by resolution, cancel my membership if I do not comply with MIPS’ Constitution, or if my conduct should be deemed to be prejudicial to the interests of MIPS. I further understand that if my membership is cancelled or not renewed I will not be entitled to cover under the insurance policies that MIPS obtains for the benefit of its members. I further declare that I have read and understood my duty of disclosure and that the information about me is accurate. If during the period of my membership, my circumstances change and the information that I have provided to MIPS is no longer accurate, I will promptly inform MIPS of the new information.