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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 by MDA National Insurance in one of two ways.

  1. Run-off Cover Scheme (ROCS)
  2. MDA National Insurance Run-off Indemnity Insurance Policy

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 a Run-off Professional Indemnity Insurance Policy 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:

  • are aged 65 years and have retired permanently from private medical practice;
  • have not engaged in private medical practice at any time during the preceding period of 3 years;
  • have only ever worked in public medical practice and have not undertaken any paid medical practice at any time during the preceding period of 3 years;
  • have ceased (temporarily or permanently) medical practice because of maternity;
  • have ceased medical practice because of a permanent disability; or
  • have left Australia permanently having practiced in Australia on a Visa sub-class 422 or 457.

A doctor's estate will also be eligible for ROCS after the doctor's death.

Further information on this scheme is available upon request or from the Department of Health at www.health.gov.au

Run-off Professional Indemnity Insurance Policy

If you are not eligible for ROCS but require indemnity for your past or prior practice, you should consider the Run-off Professional Indemnity Insurance Policy issued by MDA National Insurance. Download the Product Disclosure Statement here. This document contains the policy wording and important information you should be aware of when deciding to apply for the Run-off indemnity Policy.

Please don't hesitate to contact us on 1800 011 255 if you need more information