The British Insurance Brokers’ Association (BIBA) has partnered with Servca to provide members direct access to medical indemnity cover backed by the specialist Lloyd’s broker.
According to the announcement, the medical indemnity insurance offers protection against niche risks not typically accommodated by composite insurers. The scheme features exclusive terms on primary and excess markets for both standard and non-standard/distressed medical risks for most medical disciplines.
Benefits include global cover; defence for professional disciplinary, regulatory, employment, and patient complaints; flexible limits and variable excess options; locum and out-of-hours coverage; run-off cover; access to medical experts for specialist advice; and a 24-hour legal helpline.
“We’re very excited to have been chosen as a preferred supplier of medical indemnity insurance for BIBA members,” said Dr Edwin Rajadurai (MBBS), executive director at Servca. “This appointment is recognition of our expertise in this area.”
He continued: “Our specialist wordings and unique in-house medical knowledge offers comprehensive support to brokers and their healthcare clients with an educational approach, helping brokers to win and retain business.”
For Mike Hallam, BIBA head of technical services, it is “refreshing” to find what he described as an “intelligent approach” to a market in need of innovative underwriting and distribution to tackle medical practitioners’ unique requirements.
“Our members and their medical professional clients will benefit greatly from competitive premiums and dedicated service levels as well as access to Servca’s Lloyd’s A-rated capacity and expertise in medical indemnity, backed by in-house medical advice,” said Hallam. “Servca is an exciting new provider for BIBA and its members.”
Rajadurai added: “We look forward to working closely with BIBA and its members throughout the United Kingdom to establish competitive insurance solutions for even the most difficult risks.”
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