How much does medical indemnity insurance cost for doctors ?

The range of professional indemnity prices from insurer to insurer for any one doctor can be wide.  Each medical practitioner is different and will have pricing based on their own unique circumstances and history as assessed by each insurer.  For example, a doctor working part time will pay less than if they worked full time. A broad illustration of pricing (per annum) ranges for selected individual doctors seen over 2019/2020 showed the following broad ranges below. Please note that pricing is not indicative of the broader occupation groups as they were based on specific individuals with specific levels of billings, history and other factors.

• General Practitioner : $3,750 to  $8,000
• Cardiologist interventional : $4,800 to $9,500
• Anaesthetist : $5,000 to $10,000
• GP – Procedural : $6,000 to $12,000
• Radiologist : $14,000 to $23,000
• Vascular Surgeon : $22,000 to $30,000
• Orthopaedic Surgeon : $38,500 to $52,000
• OBGYN : $65,000 to $92,000

There is a wide range of factors, that differ from insurer to insurer, and can include (but are not limited to) :

  1. Practicing category including whether or not procedures are performed or not and the mix of practice areas between higher and lower risk categories
  2. How much work is done privately versus in an employer indemnified setting (eg public sector work)
  3. How much work is done each year (billings are often used as a proxy)
  4. How long the practitioner has been working for
  5. The history of past regulatory claims and civil claims of the practitioner
  6. If the practitioner is new to private practice
  7. Whether the doctor is eligible for Government support for their premiums or not

Experien General Insurance Services (Experien) is a national insurance brokerage firm that arranges cover for doctors with 3 medical indemnity insurers. We help many doctors in the private sector with their medical indemnity insurance, and we give Doctors the valuable alternative to dealing directly (on their own) with insurers. We research the market to help find better coverage, pricing or other factors.  If you engage us for a review, then we will not charge you if don’t decide to use us any further.  A review is complimentary and without any obligations.

When doctors renew their indemnity insurance, many consider using Experien to review their policies. By comparing insurers, we have highlighted major differences in the pricing and features of different policies.  If you want to change insurers or take out coverage with an insurer we work with, then we can do all the work for you.

General advice on this website has been prepared without taking into account your objectives, financial situation or needs. Before acting on the advice, consider its appropriateness. Consider our disclosure documents, which include our FSG and each insurer’s Product Disclosure Statements (PDS) for insurance products.Please click here for our Financial Services Guide, which includes important regulatory disclosures regarding our license, remuneration and complaints handling.