Members may cancel at any time during a membership year by completing a Cancel Your MIPS Membership form.
It is important that you understand that medical indemnity in Australia is offered on a claims-made basis. Effective from your cancellation date you will no longer be covered for any new incidents or claims that are subsequently notified to MIPS even if those events occurred while you were a member of MIPS.
To ensure you are covered for your past practice you need to obtain appropriate retroactive cover from your new indemnity provider and notify them of any new matters. Existing notifications prior to your cancellation date that are ongoing will continue to be managed by MIPS.
The cancellation policy is stated in the Member Handbook Combined Financial Services Guide and Product Disclosure Statement.
Direct debit payer?
If you pay your membership fee via direct debit instalments you may have an outstanding account balance if your pro-rated refund does not exceed your current balance once the cancellation fee is applied. Please contact MIPS to obtain a quote before cancelling.
