Medical Practice Insurance
Australia is a great place to practise medicine, but is an extremely litigious environment. Traditionally, medical malpractice claims were made against individual healthcare professionals, however today medical practitioners are delivering medical services via complex legal structures.
It is now becoming increasing likely that actions are made against the Legal Entities themselves, including its staff as well as, the individual healthcare professional.
This scenario gives rise to a number of questions:
- Who is liable for actions of employed or contracted staff and medical practitioners?
- Will Individual Practitioners policies respond to claims made against the business?
- Does the business require their own medical indemnity policies to protect its liabilities?
- What additional cover is required for my Practice?
Practice -medical indemnity Insurance
Medical Indemnity protects a company for its legal liability for claims made against them including , claimant costs and expenses arising from a breach of their professional duty relating to the provision of healthcare treatment, advice of services in the course of their business.
Policies vary and can include many extensions which, can be tailored to meet specific needs.
Does your Practice need its own Policy?
It is becoming an extremely and integral part of a Practices Risk Management procedure to investigate your Practices requirements for its own policy.
|Below is a simple summary of situations which highlights some of the circumstances in which you should consider purchasing a Practice Policy||Possibly||Yes|
|Sole Health Practitioner – don’t share staff||Yes|
|Legal Entity owed by a number of Doctors who are insured by different Insurers||Yes|
|Legal Entity –Corporate Entities who provide Healthcare Services and employs staff/consultants/contractors?||Yes|
|Legal Entity who provides support to Medical Practitioners providing medical services (billing etc.)?||Yes|
|Legal Entity who employs Medical Practitioners as employees/contractors to deliver services?||Yes|
|Legal Entity who provides different Medical treatments that are not covered by your individual Policy category|
As circumstances differ, we strongly encourage facilities to obtain independent advice from us, in order to establish your practices exposure and how best to cover these.
Policies can be tailored to meet a clients specific needs
Advantages of a Practices Policy
- Even if you, as an Individual medical practitioner, are fortunate enough to be covered by your individual policy for an action against your Practice, your own claims history will be tainted. This record will remain with you and influence your individual premiums.
- It reduces the mental anguish which, is likely to occur where you are relying on a number of individual policies to provide cover to the entity. This becomes even more relevant where you have a number of different Insurers involved who, all have their own views on the level which Practitioner’s policy should carry the major brunt of a claim.
- Having a separate policy provides peace of mind by ensuring that actions made against the legal entity and its staff will be covered (subject to the terms, conditions and exceptions of the policy), there is less chance of potential gaps in cover where individual practitioners rely on their own policies to cover the Practice.
- Where you incur vicarious liability for, actions of one of your staff, your own individual policy may be unaffected.
- Where there is a claim against multiple parties, the resulting loss will be apportioned depending on the damages. This reduces the impact on individual policies.
Types of Facilities among other’s that we can arrange cover for includes:
- Medical Practices
- Day Surgeries
- Medical Centres
- Radiology Practices
- Pathology Groups
- IVF Clinics
Hi I’m the Senior manager for Medical Indemnity and other Insurance requirements for your Medical Establishment
If you have any further questions regarding your Medical Indemnity and other Insurance requirements for your Medical Establishment, please contact Charles Gordon
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