Experien General Insurance Services helps medical practice with a $60k business insurance claim

We know that medical professionals are short on free time. Most of the day is spent working on clinical matters and very little time is left over for administration tasks such as insurance.

When a new practice is built or purchased, insurance ranks low on the “to do list”. So it’s not surprising to see a policy hastily arranged at the last minute. And then never revised year after year.

But with the chance of needing to ever claim on a business insurance policy being non negligible, it can be disastrous to have cover in place that has gaps when you may need it most. For example, very few practices has business interruption cover, which can be crucial if a practice is forced to be closed for a period of time.

We come across practices that are underinsured and some who are paying much more than they should be given how competitive the market can be. The ease of simply rolling over the policy year after year is tempting – no forms, no admin, no call centres. The reality, however, is that the industry changes over time and passivity could mean you are paying too much or missing out on coverage.

Whether your turnover/billings have grown, your practice category has changed or you’re looking for better features or pricing, it’s worthwhile being informed of what else is available and having your policy reviewed. And using a broker can also save you on cost.

The claims story and testimonial below highlights the value we can add.

Contact Experien General Insurance Services here to find out more.

The information provided contains general information and examples and does not take into account your personal objectives, financial situation or needs. It is important, before deciding whether to act on any of the topics, that you consult a licensed or authorised financial adviser, such as Experien General Insurance Services, if you require financial advice that takes into account your personal circumstances. Each policy is different and different insurers have terms that differ from one to another. You will need to read the Product Disclosure Statement of each insurer to note the specific terms that will apply.