Medical indemnity insurance, or medical malpractice as it is sometimes referred, provides cover against claims for breach of your professional duties as a doctor or surgeon.
Typically, these are acts of professional negligence, breach of duty of care or omissions. Reported claims can include injury, physical or mental harm, or misdiagnosis to a patient. Often, potential incidents are simply accusations which can be defended rigorously to protect your reputation and good standing.
Medical malpractice and indemnity cover is written on a “claims made” basis, this means is that you need to have cover in place, not only when the procedure or treatment is carried out, but also when a claim is reported. Whilst you maintain indemnity protection during your career this is not normally an issue, however, should you retire or cease to practice, it is important to arrange an extended reporting period, often known as “run-off” cover, against any future allegations which may arise.
Surgeons and doctors can often receive potential losses years into future. Incidents are not deemed “statute barred” for 3-years after the point of diagnosis, but this can still relate back to previous treatment or a missed diagnosis – newly reported losses in excess of 5 years’ post retirement are not uncommon.
Your dedicated advisor will work with you to ensure your specific extended reporting period or run-off cover is adequate for your needs.
At AXIS, we’re helping the world achieve its goals by minimizing the impact of risk.
AXIS is a leading provider of specialty insurance and global reinsurance.
At AXIS, we’re inspired by the opportunity to give people and organizations the confidence to take necessary risks in the pursuit of their goals and ambitions.
In a world that’s ever-changing, companies are more likely to succeed when they act collaboratively and with purpose. At AXIS, we’re motivated to redefine industry standards by applying an innovative and agile approach to today’s challenges. By virtue of being a specialty insurer and global reinsurer with deep expertise and a commitment to service, we have the capability to provide a broad range of solutions. We’re not afraid to take on complex and volatile risks.
Our leadership and depth of experience drive the way we serve our markets. We work diligently to ensure each of our solutions meet the unique needs of our clients.
AXIS employees are empowered to make decisions quickly and decisively, enabling our clients to respond swiftly to fast-moving market conditions. This client-centric focus continues in claims management, where we’re committed to delivering superior service and support during those times when clients need us the most.
There’s a determination here. It’s driven by an organization built on a solid foundation and dynamic by design.
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Our specialty insurance and global reinsurance business is underwritten throughout the world by various subsidiaries of AXIS Capital Holdings Limited, rated “A+” ("Strong") by Standard & Poor's and "A+" ("Superior") by A.M. Best.
For more information, visit www.axiscapital.com.
© Insync Insurance Solutions Ltd 2018 All rights reserved. Insync Insurance Solutions Ltd is authorised & regulated by the Financial Conduct Authority where our reference number is 766691. Our registered office is Midland House, 2 Poole Road, Bournemouth, Dorset BH2 5QY and we are registered in England under company number 08810662. Should you have cause to complain, and you are not satisfied with our response to your complaint, you may be able to refer it to the Financial Ombudsman Service, which can be contacted as follows: The Financial Ombudsman Service Exchange Tower, London, E14 9SR | Tel: 0800 023 4567 or 0300 123 9 123 | www.financial-ombudsman.org.uk | Terms Of Business