NDIS Audit Requirements

As a registered NDIS Service Provider, you are required to have insurance cover as part of your NDIS Audit requirements.

The NDIS Quality and Safeguards Commission states that all registered NDIS providers must have:

• Professional Indemnity Insurance
• Public Liability Insurance
• Personal Accident Insurance

As a registered NDIS Service Provider, having appropriate insurance arrangements in place is a requirement that Auditors need to verify as part of your NDIS Certification Audit or Verification Audit and they will ask to see a certificate of currency for these insurances, during your NDIS Audit.

Insurance for NDIS Registered Service Providers

NDIS service providers may be newly formed businesses or have been delivering services for years. Either way, as an NDIS  registered provider, they now face new business risks arising from delivering services within the disability industry. They will be signing new NDIS service agreements and handling the personal information of NDIS participants.

Many service providers may have come from other industries like age care, cleaning and transport and are unsure as to how these new specific risks affect their existing business and what additional risk prevention measures need to be taken. 

To help businesses account for this NDIS disability-related business risk, MyCareSpace is partnering with insurance experts that understand the risks that an NDIS service provider faces and can offer specialised disability insurance cover. 

BizCover has tailored NDIS insurance solutions that are more accessible to your business. Let BizCover advise you on how to protect yourself against these new business risks and ensure all the correct insurances are in place when you get audited. 

What type of insurances are available to NDIS Registered Providers?

There’s no ‘one-size-fits-all’ when it comes to insuring a business, just as there are no two businesses that are exactly the same.

Your insurance needs will vary depending on a variety of factors, such as, your trade, and the type of business you run. It will also be influenced by the size and location of your business and your appetite for risk. 

A 'shop front' will face different challenges and risks, to say, a mobile or home-based provider. 

Typical cover you would consider including are as follows:

1. Public Liability Insurance (required by NDIS)

Public Liability insurance protects your business if a customer, supplier or member of the public is injured or sustains property damage as a result of your negligent business activities.  

Small business owners have a legal responsibility to take reasonable steps for the safety of their customers, suppliers and the community and for their property.  

Chances are like many other small businesses, if you were faced with a public liability claim, the financial impact of paying the claim and associated legal fees (including defence costs) could potentially send you out of business. That’s why you should consider Public Liability insurance to provide the financial protection your business deserves.  PL Insurance is an NDIS requirement.

2. Professional Indemnity Insurance (required by NDIS)

This is a must if you are providing a service or advice. It protects professionals against liability for damages, and the legal costs associated with defending yourself against claims arising from an act, omission, or beach of duty in the course of your work. PI Insurance is an NDIS requirement.

3. Personal Accident Insurance (required by NDIS)

An accident or serious illness could force you to stop working for an extended period, not only leaving you without an income, but also unable to pay your ongoing expenses and overheads to keep your business running. These might include your rent, telephone, salaries and electricity.

4. Management Liability Insurance

Management Liability Insurance protects the company and the people who manage the company, such as the Company Director and Senior Managers, against the risks and exposures of running the business – your liability for mismanagement.

It covers against allegations and acts of misconduct and legislative breaches, including statutory fines and penalties, defamation, statutory breach of duty, OH&S issues, unfair dismissal, and sexual harassment.  

5. Building and Contents Insurance

Building insurance covers the cost of repairing or rebuilding the business premises (that you own) as a result of fire, storm and other perils specified in the policy.

Contents insurance covers your business contents or stock if they were damaged in a fire, storm or due to malicious damage or some other defined event listed in the policy. This could include things like trading stock, fixtures and fittings, business furniture etc.

6. Cyber Risk - important if you are working from home or delivering telehealth

If you have a website for your business or you store sensitive customer information on your computers or laptops, you should think about holding a Cyber Liability policy.

With the current environment where most people are working from or even delivering their face to face services in the form of teletherapy, this is especially important.

Cyber Liability Insurance protects your business in the event of a cyber attack. The legal costs, reputational costs and business restore costs associated with a data breach can have a significant impact on your business, not to mention the damage it can cause to your reputation.

What insurance do Disability Service Providers need if they are not NDIS Registered?

If you are providing services or products within the disability industry and are not NDIS registered, you still face the same risks and would need to consider the same insurance cover.

Want to know how to get your cover instantly?

We have chosen to partner with BizCover, who has tailored and affordable insurance solutions to protect NDIS Service Providers against the risks they face.  

These solutions are accessible instantly online and over the phone. No more lengthy documents and questionnaires, it’s a paperless experience. Apply online and an agent will contact you almost immediately.

Need to speak to an Agent?

Call 02 8287 65 76 to speak to a Biz Cover agent to find out what cover is right for your business.

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