Australian Immigration Daily News

Whilst Australian businesses may be starting to get back to normal, for many industries like the migration sector, COVID-19 has had a significant financial impact, something which will be continued to be felt until the borders start to re-open. 

With reduced cashflow it may be tempting to cut costs where possible, including cancelling or reducing your Professional Indemnity cover, particularly if you aren’t doing much work.  However, there are a number of very good reasons*  to hold onto your cover and to maintain  it with a reputable insurer.

1. Don’t risk your registration as having no cover or even an inadequate level of cover means you may not be registered to practice. Currently at a minimum you are required to hold $250,000 of Professional Indemnity Insurance. 

1. Mistakes from the past can cost you dearly.  Regardless of when you did the work, you are still liable for any mistakes that may have occurred months or even years ago. Your Professional Indemnity policy will provide cover on  a claims made basis (meaning it is triggered by when the claim is made against you) and once it is cancelled, there may not be  protection for any work conducted in the past. 

1. Insurance can cover more than the direct costs related to a claim.  Some policies extend to covering the fees and costs that relate to investigations and determinations made by official bodies, like OMARA.

Having reputable cover doesn’t need to break the bank.   BizCover currently offers a 28% discount for Migration Alliance members when purchasing Professional Indemnity insurance. Simply use the Promo Code MABIZ001 when prompted at the checkout.

The latest processing times of popular visas have been prepared by SearchMyANZSCO and are below:

The Department of Home Affairs confirmed on their website that it will no longer be accepting applications for Distinguished Talent Visa (Subclass 124).  This visa is designed for individuals to apply for permanent residency directly or via invitation through SkillSelect.  The primary criteria for grant of the visa is for the applicant to be outside Australia at the time of grant.

What does this mean for those wishing to lodge a new Distinguished Talent Visa Application?

Those applicants wishing to access the Distinguished Talent Visa via the Standard Stream or the Global Talent Independent Stream will need to lodge an application for Subclass (858) Distinguished Talent Visa.

Law Council President, Pauline Wright, said the jump from $690 to $3,330 will pose a severe threat to access to justice for migrants.

“The Law Council considers it unconscionable for the government to be imposing such an exorbitant rise in the cost of migration applications to the Court,” Ms Wright said.

“This fee rise is objectionable particularly when many refugee applicants and temporary visa holders receive no government support and, in some cases,have no access to work rights during the appeal process.”

There is a myth circulating in the migration profession that migration agents need to do 5 Category B CPD points in a registration year.

This is not the case.

Here is the reality: