QLS Approves 15% Reduction in Professional Indemnity Insurance Levies for 2026/27

The reduction follows another year of strong performance by the insurance scheme, managed by QLS in conjunction with Lexon Insurance. Lexon CEO Michael Young attributed the improved financial position to the profession's focus on risk management, which has resulted in consistently low claims costs. This financial stability has enabled meaningful savings to be passed directly back to the profession.

In addition to the substantial rate reductions, all major scheme innovations introduced in recent years will remain in place for 2026/27. These include:

• A 7.5% No Claims Discount, benefiting more than 93% of eligible practices.
• Relaxed claims loading thresholds, with loadings now only applied when a practice's loss ratio exceeds 100%, up from the previous 60%. Any annual loading is also capped at 4% of the expected claim cost.
• The reduced excess structure introduced last year.

The 15% Early Management Response (EMR) discount, subject to a $1,000 minimum and $40,000 maximum, also remains a core feature of the levy model, with more than 55% of practices currently participating.

Practices seeking additional protection beyond the standard $2 million per-claim limit can again access optional top-up insurance through Lexon. Applications can be made via the QLS renewals portal.

QLS and Lexon have reaffirmed their commitment to maintaining broad and favourable policy terms, including:

• $2 million per claim in most cases.
• Unlimited number of claims.
• Innocent party protection.
• Free run-off cover.

These features remain central to the scheme's intent of providing comprehensive, reliable protection for Queensland practitioners.