In the age of specialisation, you need a medical defence organisation (MDO) who understands the risks and responsibilities you face.
As your career progresses and you gain experience in your field, we can give you the confidence and support to make difficult decisions.
As a specialist, you must feel confident that you have the best indemnity protection both for yourself and, if necessary, for your practice. If you’re employed at a hospital, your employer will insure you against negligence. If you’re working as a contractor, cover for negligence usually only extends to public patients.
It’s important to have your own cover, both for your own practice and for all those things the hospital doesn’t cover you for.
Are you moving into specialist practice for the first time?
If so, Avant’s Practitioner Indemnity Insurance Policy provides insurance for you with up to 50% off your insurance premium in the first year of private practice and up to 25% off your premium in the second year of private practice (conditions apply).
Why do I need insurance?
As a hospital consultant or VMO, you need cover for:
- Medical board investigations
- Good Samaritan acts.
In private specialist practice you need to be covered for:
- Direct treatment of patients
- Supervising others treating patients
- Legal representation for VMO and employment disputes
- Legal representation for Medical Board inquiries and other matters affecting your ability to practice.
Specialist practice owners
If you own a specialist practice you may need practice cover in addition to practitioner cover. You may need to be covered for:
- Failure of practice protocols, including systemic failures that could result in multiple claims
- Liability assumed as a partner or employer
- Breaches of patient privacy by staff
- Errors by unsupervised practice staff, or where the patient sees multiple doctors.
Do I need practice cover?
If you meet one of the following criteria, it is likely you may have practice exposures that require cover under our Practice Medical Indemnity Insurance Policy:
- Are you a corporation or partnership, rather than a sole proprietor?
- Do you employ or contract nurses, allied health practitioners, administration staff or doctors?
- Do you rent rooms to other healthcare practitioners?
- Do you provide administrative services to other healthcare practitioners?
View further information about our Practice Medical Indemnity Insurance Policy here.
Premium Support Scheme (PSS) and High Cost Claim Scheme (HCCS)
In 2003 the Commonwealth Government introduced a package to help strengthen and support the medical indemnity industry for insurers, doctors and the community. The package includes the Premium Support Scheme and the High Cost Claims Scheme.
Under the PSS, if a doctor's gross medical indemnity costs exceed 7.5% of their gross private medical income, they will pay only 30% of the premium cost beyond this threshold. For further information, please read the Premium Support Scheme Terms and Conditions.
The HCCS reduces the cost of large claims to medical indemnity insurers by reimbursing 50% of the cost of a claim costing over a certain amount up to the limit of the practitioner's cover.