As a dedicated medical professional, we understand that you always have your patients’ best interests at heart. We will do the same for you. With medical malpractice insurance through PMP, you have the confidence knowing you’re covered when you need it most. Take a minute to discover more, then click to get a free, no-obligation quote today.
IT COMES DOWN TO CONFIDENCE.
Confidence. It’s the crucial thing that medical professionals need from their professional indemnity cover. Confidence that in the event you receive a medical malpractice or negligence claim, your cover is going to work for you.
What does it take for you to be able to have this confidence? It’s worth asking whether your insurer can answer “yes” to these four questions:
Is your policy contractual?
Unlike membership of a medical defence organisation where cover for a claim is discretionary, contractual policies offer certainty about what is covered, and they are legally enforceable.
Do you use award-winning defence lawyers?
In the complex world of medicine, a good defence depends on specialist legal expertise. PMP works with Clyde & Co, lawyers with 20 years’ healthcare sector experience and winners of the 2016 “Law firm of the year” award.
Do you have “consent to settle”?
This gives you some control over whether to settle a claim or to contest it in court. Without it, your insurer may decide this without reference to you.
Is your policy backed by an AA+ rated underwriter?
Ultimately, it’s important to be confident about the financial foundations of your indemnity cover. Our underwriter Berkshire Hathaway International Insurance Limited is rated AA+ for financial strength by Standard & Poor’s. With PMP, you can answer “yes” to all these questions so you can be confident in your medical indemnity insurer. PMP coverage that works for you.
PEACE OF MIND WHEN YOU NEED IT MOST.
Typically, the indemnity provided by medical defence organisations, or MDOs, is discretionary, while the coverage that commercial insurers provide is contractual.
What’s the difference?
With discretionary cover, it’s up to the MDO whether or not they decide to indemnify you for a specific claim which can lead to a level of uncertainty.
The coverage that commercial insurers provide is contractual, which means there is a legally binding contract in place.
In the UK medical world, many professionals still work with discretionary indemnity cover. They may be running an unnecessary risk, and potentially exposing themselves to the full cost of a claim in the event that the defence organisation decides not to take it on.
This is where contractual policies from providers like PMP can provide a powerful advantage. They give surgeons and other medical professionals the peace of mind that if a claim comes in, the cover will work for them when they need it most*.
*Subject to policy conditions and exclusions.
WE BELIEVE IN OPTIONS.
Let’s take a look at each option in turn. As its name suggests, a claims made policy is triggered when the claim is made. So if someone makes a claim against you today based on something you did back in 2011, you’re covered – as long as your policy is current and its retroactive date is before that event happened.
With an occurrence policy, coverage doesn’t end when the policy ends. Instead, the limits remain available to pay future claims based on incidents that happened during the policy period. This means that if you take a career break or retire, there’s no need to buy runoff coverage.
YOU DESERVE THE BEST VALUE.
When you’re weighing up different medical indemnity providers, it’s important to look beyond the simple price tag. But what do you get for your money? In the case of PMP, we make sure you get the most value for your premium.
WHEN THE GOING GETS TOUGH, WE EXCEL.
Who’s on your side? Indemnity cover is there to protect you in the event of a claim. But that protection depends on the skill of the legal team representing your interests.
In a professional field that’s as complex as yours, a good legal defence depends on people who are highly knowledgeable and specialized in both medicine and the law.
This expertise is not easy to find. Fortunately, when you have medical indemnity with PMP, you’ve got Clyde & Co on your side.
As well as being named 2016 law firm of the year, Clyde & Co have been ranked by Legal 500 as a top tier Firm in the healthcare sector which is “hugely respected” and attracts praise for “its empathy with clinical staff at inquests” and for its “sound, friendly advice in difficult situations”.
Clyde & Co have a proven track record in medical defence. They enjoy a 94%** success rate in rejecting claims made to the GMC and their lawyers successfully defended an obstetrician in the first case to be tried after the landmark Montgomery judgement, which changed the law on consent.
At a time when the value of malpractice claims is on the rise, these are the skilled professionals you need on your side.
So when you choose PMP, you’re choosing a strong defence too. It’s all part of our promise to provide cover that works for you.
**Statistics taken from information from Clyde & Co