The Australian Government Actuary has published its thirteenth report on the costs of the Australian Government’s run-off cover scheme for medical indemnity insurers.
The report can be found here.
This report considers the six private sector underwriters operating in Australia during 2016-17. They were :
– Avant Mutual Group Limited (Avant)
– Medical Indemnity Protection Society (MIPS)
– MDA National (MDAN)
– Medical Insurance Group Australia (MIGA)
– Guild Insurance (Guild), and
– Berkshire Hathaway Specialty Insurance Company (BHSI) distributed by Tego Insurance
Practitioners performing private practice become eligible for the Scheme by means of permanent retirement at age 65 years or older, cessation of private practice for three years, death, permanent disability or maternity leave. In addition, medical practitioners from overseas who have worked in Australia under an appropriate visa become eligible for the Scheme when they have permanently ceased medical practice in Australia and ceased to reside in Australia
Click here if you are a medical practitioner and wish to review your medical indemnity insurance.
