Medical Indemnity Insurance for Medical Practitioners
Medical indemnity insurance covers practitioners for both legal costs and the costs of awarded compensation if you are found to have caused harm by committing an error, omission or negligent act. As a health professional, your professional indemnity insurance covers both you and your patients if something goes wrong during medical care and your patient is harmed.
How do I obtain a professional indemnity insurance quote for my practice ?
Complete this initial one page form which should take less than two (2) minutes.
QUOTE FORM
You can partially complete and save the form for completion later if you wish also.
Our medical insurance partner has an Standard and Poors Financial Strength Rating of AA meaning you are insuring with one of the most financially strong company globally.
Queries and Answers on Medical Indemnity Insurance cover
1. Do I obtain any free introduction benefits for having Medical Indemnity insurance ?
Yes, you obtain free coverage for two months from commencement of cover
2. Can I start medical indemnity coverage whenever I want
Yes, there is a flexible date to start coverage
3. Am I insured for medical work in the past ?
Unlimited retroactive date for prior work undertaken – meaning covered for past advice at your medical practice before coverage commences
4. Am I insured for events in the past ?
Extended continuous cover for certain agreed prior known matters – meaning coverage can be agreed for known events prior to cover starting.
5. Is there an excess on my policy ?
No, nil dollar excess is applicable
6. What about Defence costs – are they part of, or in addition to my cover ?
Unlimited Defence costs in addition to your $ 20,000,000 limit meaning which is better
7. If I change cover, am I getting better coverage ?
Yes. There is no reduction in cover by changing cover plus you get additional benefits. You are covered by Difference in Condition “DIC” clause in your replacement policy plus obtaining additional
benefits in your replacement policy
8. As a Medical Practitioner I am concerned about privacy. How am I insured for Privacy ?
Privacy Breaches covering both fines and penalties including cost of notifying regulators and patients is insured.
9. If I have to go to court or arbitration, is my loss of income covered ?
Loss of income for time attending court or arbitration is insured
10. If I have Public Patients, am I covered ?
Yes, you are automatically insured for public patient claims in your practice where your hospital or area health service does not indemnity you.
11. I am just starting my practice. Can I obtain discounts ?
Yes, we provide massive savings for the first four years for doctors starting out in private practice
12. Do you offer a Medico-legal Hotline ?
Yes, a 24/7 hotline is provided to ensure if you an issue, it can be discussed immediately. We understand how stressful complaints and claims can be, and we want to ensure you can continue to operate effectively.
13. Can I obtain run-off cover, for if I am sued after I retire or leave practice work ?
Yes, you can obtain this coverage. A major difference between Liability and Professional Indemnity insurance is that Professional Indemnity coverage is Claims Made. You are insured only whilst you have a policy in place at the time of you notifying the claim to the insurer. However, run-off coverage when taken allows you to be insured after you retire or leave practice work.
14. What is the Financial Strength of our insurer ?
Our medical insurance partner has a Standard and Poors Financial Strength Rating of AA meaning you are insuring with the most financially strong insurance company globally. It is a subsidiary of a AAA rated company, of which there are literally only a handful in the world.
15. What is a Financial Strength Rating ?
Ratings are the current opinion of the financial security characteristics of an insurance organisation with respect to its ability to pay under its insurance policies and contracts in accordance with their terms
Medical Indemnity Insurance Claims
We recommend you notify immediately of any claims or complaints in order to minimize the impact to your reputation and day-to-day practice. The types of incidents where you should make contact to advise are :-
Service of court documents, especially a statement of claim or summons;
Receipt of a complaint from AHPRA, Medical Council or Board, Health Care Complaints Commission or the like;
Complaints from a patient either verbal or in writing;
Deaths that have been reported to the Coroner and where you have been closely involved in the care of the deceased patient;
Request from police seeking documents or a statement;
Receipt of correspondence from Medicare regarding provider numbers, item usage or audits;
Receipt of correspondence from a private health insurer querying charges, notifying of an audit or advising of a change in provider status;
Receipt of a request for medical records, whether from a patient, a third party or a subpoena;
A solicitor contacts you requesting a report or meeting about your medical management of their client;
Comments on social or print media that you consider could be defamatory.
Our goal is to strive for simplicity over complexity. We provide an insurance alternative rather than a medical defence organisation. There are no committees. No complex internal workings or boards. Committed claims specialists assist you through the process.
Because there are many varied types of incidents that can occur, we recommend you make contact if an incident could develop into a complaint or claim within your policy period.
Contact Business Insurance Specialists Pty Ltd for a quotation today.
