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| Whilst the provision of Professional Indemnity Insurance is undoubtedly Saturn’s main focus, we do write a reasonable sized Medical Malpractice account. Whilst doctors, surgeons, nurses and the like have access to the Medical Defence Union for their insurance cover, many other healthcare professionals do not and this is where we can help. Our particular area of specialisation is in the field of complementary medicine and the like. We are more than happy to consider ‘group schemes’ on behalf of professional bodies/associations operating in this area who may be looking to provide an insurance solution for their members. |
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Whilst Medical Malpractice Insurance is not compulsory for many health professionals, it is nonetheless an essential purchase for any individual, company or partnership that provides advice or a service for a fee, particularly given the increasingly litigious society in which we live.
The cover provided by our competitively priced and dedicated Medical Malpractice wording will indemnify the individual, company or partnership against claims made against them by a third party for bodily or mental injury, illness, disease or death caused by any negligent act, error or omission committed in the course of their health care business.
Cover is provided up to a monetary limit for the aggregated value of all claims notified during the period of insurance, the amount being agreed when the policy is taken out (although it can normally be increased during the policy term or at renewal with our consent and for an additional premium). This is known as the Limit of Indemnity. The limit that is right for you will depend on your individual circumstances. If you are in doubt, you should speak to your broker for guidance.
Policy cover will also extend to include legal costs which arise in the defence of the claim against you. Such sums are included within the Limit of indemnity provided.
Medical Malpractice Insurance is different to most other insurances in that it operates on what is known as a ‘claims made basis’, meaning that the policy will only provide cover for claims or circumstances discovered and notified to the Insurer during the period of insurance, rather than errors or mistakes occurring during the period of insurance.
Medical Malpractice policies generally contain a Retroactive Date, which is normally the date that the policyholder first effects cover. Claims or circumstances arising from work carried out before this date are not covered, irrespective of when discovered and/or notified…..it would be inequitable to expect an insurer to pay for claims arising from work undertaken many years previously and for which no insurance was arranged at that time. However, through Saturn you will normally be able to ‘buy-back’ cover for earlier work for a single, one-off additional premium. The Retroactive Date itself will move with the policyholder from one insurer to another, thus ensuring continuity of cover.
As with all insurance policies, certain terms, conditions and exceptions will apply. Your broker will be able to give you more guidance on this.
To download a Proposal Form or specimen Policy Wording, please click on the relevant link below: |
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| Please note that unfortunately, we are unable to offer quotations for hospitals, doctors, surgeons, midwives or nursing/rest homes. |
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Medical Malpractice Policy Summary
