48Contents of invoices given to eligible medical practitioners

48 Contents of invoices given to eligible medical practitioners

A medical indemnity insurer must ensure that each invoice it gives to an eligible medical practitioner relating to a contract of insurance between the insurer and the practitioner that provides professional indemnity cover for the practitioner for a premium period includes the following: (a) the amount of the membership fee for the practitioner or, if there is no such fee, a statement to that effect; (b) the amount of subsidy payable to the insurer on behalf of the practitioner relating to the premium period or, if no such subsidy is payable, a statement to that effect; (c) a statement that the amount of subsidy is subject to adjustment depending on the practitioner’s income and changes in the practitioner’s circumstances; (d) the amount of the premium; (e) the amount of stamp duty on the contract; (f) the amount of GST relating to the contract; (g) a statement that GST is not payable in relation to a subsidy.

Note: Section 34ZV of the Act requires invoices for premiums increasing the insurer’s liability for run‑off cover support payment to include certain extra matters relating to that payment.