Medical Practice Indemnity

 

Why do I need Practice Indemnity Insurance?

 

Traditionally, medical malpractice claims were made against individual medical practitioners stemming from clinical activities where insurance protection was adequately provided for under their personal medical insurance practitioners indemnity policy.

 

Today, we are seeing the following:

 

  • medical practitioners delivering medical services via complex ownership and business structures.
  • practices employing a range of nurses, practice managers, receptionists & other healthcare professionals in their day to day operations.
  • a shift towards proportionate liability spread across all parties involved, not just the medical practitioner.
  • an increasing exposure to vicarious liability claims where the practice may be liable for the acts of employees.
  • A trend towards non-clinical claims such as administrative errors and omissions, Medicare fraud by employees and disclosure of patient records in breach of privacy legislation.
     

All of which leads to a significant likelihood of gaps in insurance protection, which cannot be easily provided for by each medical practitioners individual medical indemnity insurance policy.

 

 

What does Practice Indemnity cover?

 

A Practice Indemnity Policy provides cover to the company or practice entity, its subsidiaries and their employees excluding medical practitioners (who must hold their own personal cover). Protection is provided for civil liability claims and investigations brought against the practice (entity) or an employee of the entity directly in connection with the provision of healthcare services.

 

Practice Indemnity provides healthcare professionals with security against legal liability arising from the conduct of their business or practice. Important features include Online Medicare Benefit Fraud, Privacy Complaints, Claims and Statutory Liability Fines and Penalties.

 

Protecting the risks of the practice through a suitably structured Practice Indemnity policy benefits both the practice and the medical practitioners by:

 

  • Ensuring a medical practitioner’s individual claims records are not impacted upon by claims made against the practice.
  • Protecting individual policy limits, where the medical practitioner’s policy limit will not be eroded because of claims made against the practice and the practice’s indemnity policy will not be affected by a claim made exclusively against a medical practitioner.
     

Important policy features

Civil liability

Covers claims for acts, errors and omissions of employees, and for the indirect responsibility of the practice for errors and omissions of medical practitioners and other healthcare professionals, and the cost to defend the claims.

Breaches of privacy laws

Cover for unintentional breaches of confidentiality and privacy laws which occur in connection with healthcare services.

mppii-icon1

Public relations expenses

Cover for the fees and costs of a public relations consultant to create a response to an event that has the potential to seriously damage the reputation of your business.

Loss of physical or electronic documents

Covering loss, destruction, deletion, damage, corruption or manipulation to physical and electronic documents or data.

Employee disputes cover

For employee contract disputes, including complaints under anti-discrimination or equal opportunity legislation for non-medical practitioners.

Statutory liability

Cover for defence costs in relation to breach of occupational health and safety law or environmental law.

Medicare Audits

Covering defence and investigation costs for inquires and audits conducted by Medicare.

Good Samaritan Acts

Protection for emergency first aid or medical assistance administered at the scene of a medical emergency, accident or disaster.