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Distressed Risks & Cover Refused Elsewhere

As a specialist medical indemnity broker, we work with individual practitioners and associations globally in the placement of groups of individuals of ‘distressed’ healthcare professionals that have been refused by MDOs and domestic insurers, often due to historic claims, regulatory issues or pending legal action. 

As an award winning Lloyd’s broker, we have access to ‘A’ rated specialty underwriters and syndicates at Lloyd’s of London which allows us to develop a tailored insurance solution for our ‘distressed’ clientele.  We understand the stress that many of our practitioners go through when seeking cover from the private insurance sector when cover has been rejected elsewhere.  We are also mindful of the legal obligations that practitioners have to ensure they have appropriate cover at all times if they are to continue working. 

What we do for our ‘Distressed’ healthcare practitioners where cover has been refused elsewhere:

  1. Assessment and Knowing our Client: Our in-house Medical Director, Dr Rajadurai would make a comprehensive assessment of the individual seeking insurance.  This can be during a meeting or a video/conference call to understand the insurance requirements any complexities.
  2. Risk Management: We develop a customised Risk Management solution for our client, which helps underwriters understand the processes that would be taken going forwards, to ensure that previous errors would not be repeated.
  3. Quote Syndication: As a Broker at Lloyd’s, we specialise in ‘syndicating’ risks so that no single insurer underwrites 100% of the risk, thus effective spreading the risk and ensuring a competitive premium at renewal.  Depending on the size and complexity of the risk, we use up to five different specialty syndicates.
  4. Financial Affordability: It is no myth that ‘Distressed’ practitioners pay an increased premium and excess for insurance.   As a client centric broker, we always negotiate the best level and premium on your behalf to ensure the premium is affordable and in line with your earnings.
  5. Documentation: Once the quotes and premiums have been agreed with the syndicate of underwriters, we discuss all areas of the policy wordings, coverages, clauses and exclusions with you, to ensure that the insurance policy meets any regulatory requirements and covers off any potential risks.
  6. Periodic Reviews: Once the policy has been incepted, we work with you all year round at periodic reviews to ensure the insurance solution is suitable for your ongoing requirements and whether there has been any material changes.

Please contact Dr Rajadurai in strict confidence on erajadurai@servca.com or +44(0)207 846 9010 to discuss any new or potential regulatory matters where we can assist with your medical malpractice coverage.

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