How to switch
Want to become a member of Practition? Medical Indemnity policies issued by the Insurance Company are underwritten on a claims made basis and covers you from the period of time you join or providing cover for your historic work and include retroactive cover.
Switching from an Insurance Company
Medical malpractice policies are generally issued by Insurance providers and underwritten on a claims made basis. It covers you from the time you join and can also include retroactive cover for your historic work.
The insurance policy that we will be providing is underwritten on a “Claims Made” basis. This means that claims are dealt with under the terms of the policy in force at the time the claim is notified and not the policy that was in force at the time of the original error or omission. For this reason, it is important that you do not allow your insurance cover to lapse, as this will mean that you will be responsible for settling any claims notified during the period for which cover is not in force.
To move your medical indemnity insurance to Practition, all we need is completion of our simple forms and we will do the rest.
Switching from a mutual body (Medical Defence Organisation)
If you are looking to switch from your current mutual body, there is two main differences to highlight:
Mutual bodies offer policies on a claims occurrence basis and moving to Practition would provide you a quote on a claims made basis
You would be moving from non-regulated discretionary cover to a contractual regulated policy with Practition
All of the Practition policies include a minimum of 21 years run-off cover in the event that our clients cease to trade, retire or death. It is always worth checking with your current provider how you are covered, and we will look to accommodate any gaps in cover i.e., claims made cover for certain time periods.
It is common for mutual bodies to undertake an income audit which could leave a consultant with deactivated memberships or cover cancelled ab inito. Practition can look to assist in these circumstances so please call our team to discuss your options.
It is common for mutual defence organisations to undertake an income audit which could leave a consultant with deactivated memberships or cover cancelled ab inito. Practition can look to assist in these circumstances so please call our team to discuss your options.
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Ready to make the switch?
If you wish to switch from another insurance company, all we need is your acceptance of our terms and we will do all the rest. Your Practition policy will pick up your retroactive cover.