PraxisMutual · Indemnity

Policy document

Financial Services Guide

This guide tells you who is providing your financial service, on whose behalf, the services we offer, how we are paid, and how to make a complaint, so you can decide whether to use our services.

Please read this Financial Services Guide (FSG) carefully and keep a copy for your records. It should be read together with your policy schedule, the Product Disclosure Statement and the policy wording, which together form your contract of cover.

Version 1.0. Effective 1 July 2026. Praxis Mutual.

1. About this document

This Financial Services Guide (FSG) is given to you by Praxis Indemnity Insurance Pty Ltd. It explains the financial services we provide, who we provide them on behalf of, how we and our representatives are remunerated, and what to do if you have a complaint. It is designed to help you decide whether to use the services we offer.

2. Who provides the service, and on whose behalf

The financial service is provided by Praxis Indemnity Insurance Pty Ltd as the product issuer, with member services provided through Praxis Mutual Ltd, the member-owned mutual. Where a service is provided to you by an authorised representative, broker or other distributor, they act on behalf of, and under arrangements with, the licensee responsible for their conduct, and they will tell you who that licensee is.

3. Services offered

We deal in, and give general advice on, general insurance products — specifically medical indemnity cover for registered medical practitioners and their practice entities. This includes:

  • issuing, varying and renewing contracts of medical indemnity insurance;
  • providing general advice about that cover (information that does not take your personal objectives, financial situation or needs into account);
  • arranging run-off cover and helping eligible members access Commonwealth schemes.

We do not give personal financial product advice unless separately authorised and documented. Where only general advice is given, you should consider its appropriateness to your circumstances and read the Product Disclosure Statement before deciding.

4. Remuneration, commissions and conflicts of interest

We tell you how we and our representatives are paid so you can judge any influence on the service:

  • Premiums: we are remunerated from the premiums you pay for cover. Our employees are paid salaries and may receive performance-related benefits that are not directly tied to any individual product sale.
  • Distributors: where cover is arranged through a broker or authorised representative, that party may receive a commission, typically calculated as a percentage of premium, or a fee agreed with you. The amount or basis is disclosed to you before the service is provided.
  • Conflicts: we maintain a conflicts-of-interest policy and manage, and where necessary disclose or avoid, any conflict between our interests and yours.

5. Associations and relationships

Praxis Indemnity Insurance Pty Ltd is a wholly-owned insurer subsidiary of Praxis Mutual Ltd, the member-owned mutual. This is the structure used across Australian medical defence organisations, in which a member mutual is paired with an insurer that holds the capital and issues the contract. We will disclose any other material association or relationship that could influence the service we provide to you.

6. Complaints and dispute resolution

If you have a concern, the first step is our Internal Dispute Resolution (IDR) process, which aims to resolve complaints promptly and fairly. We acknowledge your complaint quickly, keep you informed of progress, and give you a written response with reasons. If your complaint is not resolved to your satisfaction, you can escalate it, free of charge, to an independent external dispute resolution scheme, whose determinations can bind us up to applicable monetary limits.

7. Compensation arrangements

We maintain compensation arrangements, including professional indemnity insurance, that are intended to cover claims arising from the conduct of our business and our representatives, including former representatives. These arrangements are designed to meet our obligations to you.

8. Privacy

We handle personal information, including sensitive health information, in accordance with the Privacy Act 1988 (Cth) and the 13 Australian Privacy Principles. See our privacy policy for details.

9. How to contact us

  • Provider: Praxis Indemnity Insurance Pty Ltd
  • Email: hello@praxismutual.au
  • Address: Level 1, 100 Collins Street, Melbourne VIC 3000

If anything in this guide is unclear, contact our team before you make a decision about your cover.

Need a hand? If anything in this document is unclear, our team is here to help — call contact us before you make a decision about your cover.