What Insurance Do I Need for My Medical Practice?
Running a medical practice comes with unique responsibilities and unique risks. Whether you are a GP clinic, specialist practice, allied health practice, having the right insurance in place is essential for protecting your business, your patients, and your reputation.
In this guide, we break down the core insurance policies a medical practice needs, why they matter, how much cover is appropriate, and how a specialist broker like Morgan Insurance Brokers can help you get it right.
1. Medical Malpractice / Professional Indemnity Insurance
What Is Medical Malpractice Insurance?
Medical malpractice insurance often referred to as professional indemnity insurance protects your practice entity against claims of negligence, errors, or omissions arising from the treatment of patients.
Even if all your doctors, nurses, or contractors have their own individual indemnity cover, your practice can still be named in a lawsuit. This can occur when:
- An employee or contractor allegedly makes an error
- A patient believes the clinic contributed to or enabled negligent treatment
- The entity is accused of failing to supervise or maintain appropriate systems
In other words: even if practitioners hold their own PI insurance, your practice may still be dragged into the claim and you need protection.
How Much Cover Does a Medical Practice Need?
Your practice does not usually need the full $20 million limit that many GPs carry individually.
This is because the practice entity is rarely found solely liable for the full extent of damages. A more suitable level of cover for medical practices is typically:
- $1 million per claim
- $2 million per claim
- $5 million per claim
The right limit depends on:
- Size of the practice
- Number of practitioners
- Types of services provided
- Claims exposure
A specialist broker can help assess what is commercially sensible without overspending.
2. Business Package Insurance
A business package policy bundles multiple essential covers into one policy. What you need depends on whether you own the building or lease the premises.
If You Own the Building
You will generally need:
- Building insurance – covers structural damage from fire, storm, impact, vandalism etc.
- Property owner liability – protects you if someone is injured on the premises
You can also refer to our detailed guide:
Commercial Property Insurance for Medical Centres
If You Lease the Premises
You should consider:
- Contents insurance – furniture, fit-out, medical equipment
- Public liability insurance – injuries to visitors or patients
- Business interruption insurance – protects your income if your practice cannot operate after an insured event
- Glass insurance – often required under lease agreements
- Machinery breakdown – for essential equipment like air-conditioning and medical compressors
- Electronic breakdown – especially important for vaccine fridges, temperature-controlled medicines, and diagnostic equipment
A single equipment failure can lead to thousands of dollars in lost vaccines, this cover is often overlooked.
3. Cyber Insurance
Medical practices are high-value targets for cyber criminals due to the large amount of personal and sensitive health information stored.
A cyber attack can lead to:
- Loss of patient records
- Exposure of sensitive medical information
- Ransom demands
- Regulatory penalties
- Costly IT forensics and data recovery
- Mandatory patient notifications
- Business interruption
Cyber insurance helps cover these costs and ensures your practice can respond quickly and professionally after an incident.
Why Work With a Specialist Insurance Broker?
Insurance for medical practices is complex much more specialised than standard business insurance. At Morgan Insurance Brokers, we:
- Understand the healthcare industry and its unique risks
- Source multiple quotes from reputable insurers
- Recommend the right limits (not just what’s standard)
- Manage claims on your behalf to reduce stress and downtime
- Tailor cover to GPs, specialists, allied health, and multi-site clinics
You get expert advice, better pricing, and insurance that actually protects your business when something goes wrong.
Final Thoughts
Having the right insurance program gives you peace of mind and allows you to focus on what matters most—delivering high-quality patient care.
At minimum, most medical practices need:
- Medical malpractice / professional indemnity insurance (entity cover)
- Business package insurance tailored to whether you own or lease
- Cyber insurance to protect patient information
If you’d like a review of your existing policies or want to explore whether your clinic is properly protected, Morgan Insurance Brokers are here to help as specialists for medical centre insurance.
Single Contract Works vs Annual Contract Works Insurance
When you’re working in construction, whether you’re a builder, contractor, tradie, or developer, protecting your project from unexpected loss or damage is essential. Contract Works Insurance is designed to safeguard the physical building works, materials, and equipment that form part of a construction project. But choosing between Single Contract Works and Annual Contract Works can be confusing, especially if you handle a mix of different types of jobs throughout the year.
This guide explains what Contract Works Insurance is, the difference between the two types of cover, what kind of projects you’d insure, and how a broker like Morgan Insurance Brokers can help you choose the right structure.
What Is Contract Works Insurance?
Contract Works Insurance (which is a form of Construction Insurance) protects construction projects against:
- Accidental damage to the works
- Fire, storm, flood (depending on insurer)
- Theft of building materials
- Vandalism
- Collapse
- Damage during transportation or temporary storage
- Third-party property damage or personal injury (when public liability insurance is included)
It’s essential cover that ensures your building project can continue, even if something unexpected goes wrong.
What Types of Projects Would You Insure?
You would typically insure any construction project where you're responsible for the works, including:
- New home builds
- Home extensions, renovations, and alterations
- Commercial construction
- Residential developments
- Fit-outs and shopfitting
- Civil works
- Pools and landscaping
- High-value or bespoke builds
- Projects where the principal or contract requires it
If the value, complexity, or contractual obligations are significant, Contract Works cover becomes even more important.
Single Contract Works vs Annual Contract Works
Both forms of Contract Works Insurance serve the same core purpose: to protect the project during the construction period.
The key difference is in how and when they apply.
Single Contract Works Insurance
Best for: One-off, unique, or high-risk projects
Single Contract Works Insurance covers one specific project only, from start to finish. You select the exact project address, value, duration, and risk profile.
Why choose Single Contract Works?
✔ You only want cover for one project
Ideal for contractors who build occasionally or take on one major project per year.
✔ The project is unusual or high-risk
Some projects don't fit the risk appetite of your annual insurer, for example:
- Basements
- Demolition
- Multi-storey additions
- High-value architectural builds
- Flood-prone locations
In these cases, placing the project separately avoids affecting your main annual policy.
✔ Higher excesses are acceptable or required
High-risk projects may require higher excesses. Instead of increasing your entire annual excess, you can isolate the project under a standalone policy.
✔ Your current annual policy can’t cover the project
Some insurers have strict underwriting rules. If your annual provider declines or limits the job, a single contract works policy is a clean solution.
Who typically chooses single project cover?
- Custom home builders
- Developers doing a one-off build
- Owner-builders
- Contractors handling one large project at a time
- Builders taking on a unique or complex job
Annual Contract Works Insurance
Best for: Builders completing multiple projects per year
Annual Contract Works Insurance covers all projects undertaken within a 12-month period, up to a chosen maximum contract value and turnover.
Why choose Annual Contract Works?
✔ You complete multiple projects per year
No need to arrange a new policy every time.
✔ It’s often more cost-effective
Australian insurers usually apply a cheaper rate when cover is structured annually rather than per project.
✔ Simpler administration
One policy, one premium, one renewal.
✔ Covers projects automatically (up to set limits)
As long as your jobs fall within your declared range (e.g., project values, type of works), they are covered without needing individual approval.
✔ Flexible coverage for variations
Construction often involves changes. Annual cover generally adapts more easily.
Who typically chooses annual cover?
- Volume home builders
- Renovation builders
- Commercial building companies
- Civil contractors
- Trade businesses completing several projects regularly
What Are the Differences in Cover?
Both types provide similar base protection, but some differences exist across insurers:
| Feature | Single Contract Works | Annual Contract Works |
|---|---|---|
| Coverage basis | One specific project | All projects within 12 months |
| Premium | Based on single contract value | Based on annual turnover & project limits |
| Rate | Usually higher | Usually cheaper overall |
| Underwriting flexibility | Very flexible; tailored to the project | More standardised |
| Project approval | Required for each standalone policy | Automatic cover (within limits) |
| Excess | May vary per project | Generally consistent |
Coverage may differ between insurers especially for storm, flood, or defective workmanship extensions.
How a Broker Helps You Choose the Best Structure
Why Work With Morgan Insurance Brokers?
Choosing between single and annual Contract Works Insurance isn’t just about cost—it’s about risk, compliance, and practicality.
A broker like Morgan Insurance Brokers can help you:
✔ Analyse your pipeline and determine the most cost-effective option
They’ll compare whether insuring each project separately or using an annual structure will give you better value.
✔ Identify insurer limitations that may affect your jobs
Some insurers won’t cover certain project types. A broker can source alternatives quickly.
✔ Ensure you meet contract requirements
Government, developers, and principals often have strict insurance obligations. Morgan Insurance Brokers makes sure you are compliant.
✔ Tailor coverage to the project
Higher-risk or specialised jobs can be placed separately so they don’t impact your annual premium.
✔ Navigate claims and contract disputes
Expert claims support means less stress and faster resolution.
✔ Access a network of specialist construction insurers
Better coverage, competitive premiums, and expert advice.
Final Thoughts: Single vs Annual, Which Is Better?
The right choice depends on your business model:
Choose Single Contract Works if:
- You only need cover for one project
- The project is complex, high-risk, or unusual
- Your annual insurer cannot cover it
- You want to isolate the risk from your main policy
Choose Annual Contract Works if:
- You handle multiple projects throughout the year
- You want simplicity and automatic cover
- You want a cheaper rate overall
- You want consistent excesses and easier administration
If you're unsure which structure is right for you, Morgan Insurance Brokers can assess your project pipeline, insurer appetite, and risk profile to determine the most cost-effective and suitable option.
Commercial Property Insurance for Medical Centres
Owning a medical centre as a commercial investment property comes with unique risks. From specialised tenant fit-outs to constantly evolving healthcare regulations, medical buildings need solid insurance protection. This guide explains what cover you need, why it matters, and how to ensure you’re properly protected as a commercial landlord with the correct commercial property insurance.
1. Why Commercial Property Insurance for Medical Centres Matters
Medical centres have high-value equipment, constant foot traffic, and strict operational requirements. As a landlord, your responsibilities focus on protecting the building, not the medical practice inside it, yet your exposure is significant if something goes wrong.
A tailored commercial property insurance policy covers risks such as:
- Fire, storm, vandalism, water damage
- Building repairs or full rebuilding
- Loss of rent
- Liability exposures associated with the property
- Tenant risks and complex medical fit-outs
This type of asset is too valuable to leave underinsured or incorrectly insured.
2. Business Interruption: Why 24 Months Should Be Your Minimum
Business interruption (loss of rent) protects your rental income if your building becomes untenantable due to an insured event. For medical centres, 24 months should be the minimum indemnity period, and here’s why:
a. Rebuilding takes longer than it used to
Shortages in trades, materials, council approvals, and permit delays can push reconstruction well beyond 12 months.
b. Medical centres need specialised fit-outs
Healthcare fit-outs involve plumbing, electrical, disability access, compliance, and council health approvals—significantly extending reinstatement time.
c. Tenant relocation and return times vary
Even after the building is repaired, tenants may need extra time to reinstall their medical equipment, comply with regulations, or resume operations.
Choosing 24 months ensures your rental income is protected throughout the entire rebuild and reoccupation period, not just the first half.
3. Why Commercial Property Owners Liability Is Essential
Property Owners Liability protects you if someone is injured or their property is damaged due to your building.
For medical centres, this is crucial because:
- Foot traffic from patients increases slip-and-fall exposure
- Visiting contractors (pathology, chemists, cleaners) create additional risk
- Any structural or maintenance issue could trigger a claim
- Medical centres often operate extended hours, increasing the chance of incidents
If a patient or contractor is injured due to a hazard on your property, you could be held liable even if the tenant is in occupation. The right cover protects your financial position.
4. What You Need to Provide for an Accurate Insurance Quote
Your broker or insurer will need the following:
✔ Tenancy Listing
Details of each tenant, their business type (GP, pathology, radiology, allied health), and floor area.
✔ Annual Rental Income
Accurate figures ensure correct business interruption cover.
✔ Building Replacement Value
A professional building insurance valuation is recommended, medical centres have complex structures and compliance requirements that increase rebuild costs.
The more accurate your information, the more accurate (and reliable) your cover will be.
5. How Morgan Insurance Brokers Can Help
Morgan Insurance Brokers are specialists in commercial property insurance, including assets with medical tenants. Here’s what sets them apart:
- Expert understanding of medical centres and the unique risks involved
- Access to multiple insurers to find the best coverage and premium combination
- Tailored policies, not generic one-size-fits-all packages
- Assistance with building valuations, risk assessments, and tenancy reviews
- Dedicated claims support to guide you through complex reinstatement and loss-of-rent claims
With experienced specialists on your side, you avoid gaps in cover, underinsurance issues, and costly mistakes.
Final Thoughts
Medical centres are valuable, complex commercial assets, your insurance should reflect that. With the right commercial property policy, 24-month business interruption cover, and essential liability protection, you safeguard both your building and your income.
Morgan Insurance Brokers can help you secure the best cover and ensure your investment remains protected long-term.
How Major Life Events (Marriage, Mortgages, Children) Should Trigger a Life Insurance Review
Life insurance provides you and your family with financial security and peace of mind when you can no longer. However, the terms of your life insurance are typically agreed in line with your lifestyle and details. So, if any major life events occur that change your circumstances, it is important to review your life insurance to ensure that it will still protect you as you expect it to.Â
As changes happen in your life, you may need to update and change your life insurance to protect the changes. So, what is a life insurance review, and why do major life events trigger a review?
What Is A Life Insurance Review and Why Is It Important?
A life insurance review is a check-up on your policy to understand if its terms still meet your demands. It reviews things, such as:Â
- Coverage amount (term or permanent cover)
- Beneficiary details (i.e trust arrangements)
- Policy TypeÂ
It is generally recommended to conduct frequent life insurance reviews (for instance, every 3-5 years) to ensure that details are updated and your life insurance still protects you the way you need it to. You’ll generally be confirming that you’re not paying too much for coverage that you don’t need, or paying too little and not being prepared for the worst.Â
Another important time to review your life insurance is when a major life event occurs. This can include marriage, having children or buying a home. When these life events occur, it may change your circumstances by adding responsibilities and people that you care for, and will therefore want to protect under your life insurance.
How Do Major Life Events Trigger A Review?
These events can change your priorities, responsibilities and duties. So, it’s important to review your life insurance and ensure it is updated.
Marriage:
If you get married, it may mean merged finances and joint financial responsibilities. You may want to consider adding them to your life insurance so they're protected for the future, as they’ll be responsible for your finances and other debts in case of death.
Mortgage:
Buying a home actually triggers an insurance reassessment as you’ll have new responsibilities and debts to insure and protect. You’ll want to ensure that this is clear on your life insurance policy so that your family are protected from financial liability and hardship in case of death.
Children:
When your family grows, so does your financial responsibility. There’s a lot to consider, including education and day-to-day expenses. Both parents must be covered to ensure future financial stability and health.Â
How To Review Your Policy
To effectively review your policy, you should assess your needs and how they’ve changed since you purchased your life insurance. When it comes to life insurance, you want to know that you’re getting the best deal possible, so compare quotes with other insurers to cover your bases and secure yourself a policy that protects you and your family.Â
It’s always best to seek expert advice from an insurance broker, like Morgan Insurance, who can help you navigate the ins and outs. We’ll give you the clarity you need whilst prioritising your interests.Â
How Morgan Insurance Can Help
When you partner with Morgan Insurance to help navigate and review your life insurance, you get an expert. We know the market better than anyone else, so we can help secure you a policy that protects you exactly as you need it to. We’ll leverage our market knowledge to secure you the best deal and guide you through your policy.Â
Sometimes all you need is clarity and detail. That’s exactly what you’ll get with us. We don’t want any part of your insurance policy to be unclear, so we’ll help you understand exactly how you’re covered. And we’ll be there for ongoing support, review and claims handling when required. So, you never need to wonder what comes next.Â
Get In Touch Today
Protect your family and their financial stability today with Morgan Insurance as your broker and partner. We’ll review your current policy and ensure that you’re set up for the future. Don’t leave it until tomorrow; get in touch with our team today.Â
Contact us on 1300 109 778.
Do HVAC Businesses Need Professional Indemnity Insurance?
When you work in the HVAC industry, clients rely heavily on your advice, technical expertise, system design, and installation quality. Whether you’re designing a complex commercial system or recommending a residential solution, one small oversight can lead to costly consequences, property damage, business interruption, or even claims from unhappy clients.
This is where Professional Indemnity (PI) Insurance comes in.
Do HVAC Contractors Need Professional Indemnity Insurance?
The short answer: If your HVAC business provides any advice, design, or specification, YES.
Many HVAC companies assume that public liability insurance is enough. But public liability only covers physical injury or property damage caused by your work. It does not protect you against financial losses resulting from advice or design mistakes.
Examples of PI-related risks in HVAC:
- Designing a system that fails to meet cooling or heating requirements, forcing a costly redesign.
- Incorrect equipment specification leading to excessive energy use or system failure.
- Advice that causes a client financial loss—such as poor airflow planning affecting a tenant’s operations.
- Certification or compliance errors for regulated environments (labs, hospitals, food processing, etc.).
In these situations, a client could claim that your professional advice caused them financial harm—and without PI insurance, you would bear the cost.
What Is Design & Construct Professional Indemnity Insurance?
For HVAC companies that design and build systems, a standard PI policy isn’t always enough. That’s where Design & Construct Insurance (D&C) Professional Indemnity Insurance becomes essential.
What makes D&C PI different?
It is tailored for businesses that combine professional services + physical construction, including:
- HVAC designers
- Mechanical services contractors
- Air conditioning installers
- Building services engineers
- Commercial refrigeration specialists
What D&C PI typically covers:
- Errors in HVAC system design
- Inadequate specification of materials or components
- Claims of professional negligence
- Failure to meet required performance standards
- Breach of professional duty
- Cost overruns due to design errors
- Defence costs, settlements, and legal fees
Example Scenario
You design and install an HVAC system in a commercial office. After completion, the building suffers from inadequate ventilation, causing discomfort and forcing staff relocation. The client demands compensation for:
- Repairs
- Downtime
- Lost productivity
A D&C PI policy can respond to these financial losses.
Why HVAC Businesses Choose Morgan Insurance Brokers
When it comes to professional indemnity insurance for HVAC work, you need a broker who understands the nuances of mechanical services, compliance obligations, and design-related risks. That’s where Morgan Insurance Brokers stands out.
1. Industry-Specific Expertise
Morgan Insurance Brokers specialises in trade and construction insurance and related PI policies. They understand:
- Mechanical and HVAC system design risks
- Complex commercial installations
- Contractual obligations for builders, engineers, and subcontractors
- Australian standards and regulatory requirements
This ensures you’re matched with a policy that actually fits your work, no generic templates.
2. Access to Specialist Underwriters
They work directly with insurers who provide Design & Construct PI, not just general PI. This means:
- Better policy wording
- More comprehensive protection
- Options for high-limit cover for major commercial projects
3. Help Navigating Contracts & Compliance
Many builders, councils, and government tenders now require PI cover. Morgan Insurance Brokers can:
- Review your contract requirements
- Explain insurance obligations
- Ensure you meet compliance without over-insuring
4. Fast, Responsive, Personal Service
No call centres. No delays. Just direct contact with a specialist who knows all the ins and outs of HVAC Insurance.
5. Support During Claims
If something goes wrong, they walk you through the claim process:
- Collecting evidence
- Communicating with insurers
- Negotiating on your behalf
This support can make the difference between a rejected claim and a successful one.
Final Thoughts
For HVAC contractors, especially those involved in design, specification, or certification, Professional Indemnity Insurance isn’t just an optional extra. It’s an essential layer of protection that shields your business from costly disputes.
Design & Construct PI ensures you are covered across both the professional and construction phases of your work.
And with a broker like Morgan Insurance Brokers, you get tailored, industry-specific guidance that protects your business properly.
