In the UK, licensed medical practitioners engaged in private practice must have medical indemnity insurance that meets the relevant board’s “PII Licensing Standard.” AHPRA is where you may find the standards. Medical indemnity insurers must adhere to the Medical Indemnity Act’s minimum policy criteria, which apply to all medical indemnity insurers. The insurance policy by Insync Insurance must offer adequate retroactive coverage for situations arising from an earlier practice in the UK that would otherwise be uninsured.
Medical Malpractice by Entity – Medical Centers and Day Clinics
It is critical for the medical centre and day clinic owners/operators to recognize “who” and “what” are protected under their medical indemnity insurance policy. One of the greatest frequently asked questions is why the practice requires a practice entity policy when the individual physician has their own medical indemnity “private” coverage.
Medical Indemnity Insurance for Doctors: Some Important Facts
- A doctor’s personal policy may be adequate if you are a single-doctor practice with no additional doctors, and you completely own the practice entity and hire a few personnel who are always overseen. A classic solo GP office that hires a nurse and a receptionist, is an example of this sort of practice. Check with your medical indemnity insurance to see if your practice and employees are covered under your policy.
- If you work with other physicians, rent rooms to others, don’t wholly own the business or have employees who perform healthcare services in their own right (e.g. cosmetic operations), practice insurance may be needed to accept the practice’s medical indemnity exposures.
Indemnity insurance for medical professionals
The insurance coverage given and the rates charged by insurers differ significantly. Some medical indemnity insurers, for example, combine the doctor’s medical indemnity coverage with a “free” or “discounted” practice policy. While this appears to be a liberal approach, it may only be appropriate for the particular practice ownership models.
All medical specialists who are unsure whether or not their practice entity requires its own practice insurance should contact their insurer or a qualified Medical Insurance Indemnity agent. An expert insurance consultant will look over your practice structure and, if necessary, give you a price for Medical Indemnity Insurance Practice Entity.
This article is intended to be general in nature and does not constitute legal or medical counsel. Before depending on any content, you must get legal, medical, or other expert counsel, and make proper clinical decisions based on your unique circumstances. Individuals who follow any of the suggestions in this book must use their own independent judgment or seek appropriate expert advice relevant to their own practice. Compliance with such guidelines does not imply that the health professional or practice is fulfilling its responsibility of care to patients and anyone who comes into touch with it. The insurance company is not liable to you or anyone else for any consequence you may suffer as a result of using this material.
Conclusion:- You may not only safeguard yourself, your patients, and your medical practice by choosing the correct indemnity case, but you can also make the claim procedure as simple as stress-free as possible if the need comes.