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Doctors working in private practice in Australia need to hold individual or practitioner medical indemnity insurance cover.  And medical practices should also consider holding practice medical indemnity cover.

There are a number of insurers that offer cover for these 2 types of policies.

Doctors are able to liase directly with insurers to purchase their cover. Or they can use the services of a broker, such as Experien General Insurance Services (EGIS), to do this on their behalf.

What are the advantages of using a broker and not dealing direct with an insurer ?

1. You do not generally pay more by using a broker (as they are mainly remunerated by the insurer unless they charge a fee) and you may even pay less with a broker if they help negotiate with the insurer. A broker can also get quotes from more than one insurer for you.
2. A broker can take away many of the administrative tasks from you in liasing with the insurer or making changes to the policy
3. The privacy of your claims and notifications can be protected.  You can use a broker optionally for claims help only when you want to (at no extra charge for Experien General Insurance Services)
4. EGIS can help ensure you don’t lose your tail cover for past events if you change insurers
5. EGIS can help ensure you are in the right category with your insurer to prevent claims being denied
6. A broker like EGIS will conduct complimentary reviews annually
7. As a client of EGIS, you are allocated a personal broker that you can contact as often as you like, and directly, rather than dealing with a call centre.
8. A broker can compare the features of each insurance policy across the various insurers

If you would like a complimentary consultation on your existing medical indemnity insurance – for you or your practice – or if you wish to take out a new policy then contact EGIS here.