| Medical Indemnity Insurance (MI) is mandatory, | | | | It is important to clarify with the insurance |
| and good practice, for every doctor working in | | | | company what the insurance does and does not |
| English Speaking countries. | | | | cover, and if there are any exclusions. And |
| WHO PROVIDES MI COVER? | | | | always, read the fine print and make sure you |
| Every country has different arrangements for | | | | understand the MI policy, and that it is appropriate |
| this, and in some countries like the USA, you | | | | for your needs. |
| should check the credit rating of your MI | | | | To protect you as a doctor, and ensure an |
| company carefully, as many of them are facing | | | | accurate MI application process, it is necessary to |
| solvency issues. In Canada, medical indemnity is | | | | establish what indemnity insurance is held by each |
| covered by a general pool, similar to self insurance | | | | employer, and where there is doubt, an extract |
| needed by doctors before they start practicing | | | | from the certificate of currency should be |
| and due to market regulations, these companies | | | | requested. |
| are far less likely to be insolvent than their US | | | | HOW MUCH DOES MI COST? |
| counterparts. | | | | In Australia, the cost of the premium depends on |
| To take the Australian example: | | | | the mix between public and private that the |
| The first level of cover is provided by the (public) | | | | doctor has: the more income earned in the |
| hospitals, employers or practice, the second by | | | | private sector, the more the annual premium will |
| insurance organisations such as MDAV | | | | cost. It also depends on the category of |
| Note that the MI information in each country is | | | | specialization, procedural vs. non procedural etc. |
| very different. For accurate information on MI in | | | | For this reason, and the fact that all insurers |
| other countries, please contact the relevent | | | | measure risk slightly differently, the premium |
| organisations. | | | | would be determined on a case by case basis, by |
| WHAT IS COVERED BY A MI POLICY? | | | | the insurance company. |
| In Australia, in the public sector, the hospital's | | | | The need to have run off cover for three years |
| insurance will cover the cost of the doctor getting | | | | after the position ends is standard throughout the |
| sued-the claim itself- but will not cover legal and | | | | world, some experts recommend it should be |
| other costs associated with defending the claim. | | | | maintained for longer, for example if the doctor |
| Therefore the insurance from organisations such | | | | has been practicing as an obstetrician. |
| as MDAV would cover the "gap".in the case of | | | | In addition to the indemnity insurance, doctors |
| private hospitals, the insurance should cover the | | | | may be advised by third party experts about |
| whole amount of the claim plus fees, as the | | | | other means of protection of assets, such as |
| hospital itself doest not routinely provide insurance | | | | appropriate company structures. |
| - although some of the larger ones may - it is | | | | Note that the MI information in each country is |
| best not to assume. | | | | very different. |