Insurance
    You are here: 
  • Home » 
  • Insurance » 
  • Retirement, Run off and ROCS

Retirement, Run off and ROCS

Run-off Cover is a form of cover generally taken out by professionals when they retire or stop practising for a significant period of time. Medical negligence claims can be made against a medical practitioner years after the medical services were provided so it is important that Medical Practitioners have adequate protection after they cease practice.

Run-off cover can be provided through MDA National Insurance in one of two ways.

  1. Run-off Cover Scheme (ROCS)
  2. MDA National Insurance Professional Indemnity Policy – Run Off Category (refer to Professional Indemnity Insurance Policy Risk Category Guide)When considering Run-off Cover, you should be aware that the Australian Government has introduced a statutory Run-off Cover Scheme (ROCS) which means you may not need to purchase Run-off cover from us.   

Run-off Cover Scheme (ROCS) 

From 1 July 2004, the Australian Government introduced a Run-off Cover statutory indemnity scheme for doctors who practise in Australia. The scheme provides Run-off Cover to certain eligible doctors without the requirement for premiums to be paid. You are eligible for ROCS if you:

a) are aged 65 years or over and have retired permanently from remunerated private medical practice; 
b) are aged 65 years or over and have retired permanently from all remunerated medical practice; 
c) have not engaged in any remunerated private medical practice at any time during the preceding period of 3 years; 
d) have not engaged in any (including public sector) remunerated medical practice in the preceding 3 years;  
e) have ceased all remunerated (temporarily or permanently) medical practice because of maternity;  
f) have ceased all remunerated (temporarily or permanently) medical practice because of a permanent disability or 
g) have left Australia permanently having practiced in Australia on a Visa sub-class 422 or 457.

A medical practitioner’s estate will also be eligible for ROCS after the medical practitioners deathFurther information on this scheme is available upon request or from the Department of Health at http://www.health.gov.au/