Doctors are required to hold a minimum amount of professional indemnity insurance as part of their annual Registration requirements.
This insurance is commonly referred to as medical indemnity insurance or practitioner indemnity insurance.
It is commonly understood that this insurance will help defend a Doctor and pay compensatory claims costs for civil legal actions brought against a Doctor based on a claim of negligence.
However, one of the most common causes of claim for such a policy is when a notification is brought against a Doctor with a Regulatory body like AHPRA or the HCCC. If this happens, then the policy may be triggered and fund defence costs for the insured in this regard.
The latest stats from AHPRA (for the year to June 22) show that the number of Regulatory Notifications brought against doctors has risen year on year. And this most likely means that the number of claims lodged against this type of policy could be rising and that in turn may put pressure on insurers to raise premium costs.
Some doctors choose to deal directly with insurers to arrange their medical indemnity insurance policies. But many now use Experien General Insurance Services to do this work for them. We deal with several insurers and can save Doctors time and potentially money in doing this work for them. Contact us to find out more.
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. Always read the Product Disclosure Document of an insurer before considering whether to take a policy of insurance. General insurance services are provided by Experien General Insurance Services Pty Ltd ABN 77 151 269 279 AFS Licence No. 430190 (EGIS) trading as Experien Insurance Services. EGIS arranges insurance and is not an insurer
