Psychiatrist Indemnity Insurance
Private Practice Psychiatry
Working within the Private Practice sector you’ll be more than familiar with the level of risk exposure you face as a Psychiatrist. In the event a patient feels the treatment you have provided has had a negative impact on you, you risk facing legal action against yourself.
As a Psychiatrist it is your legal responsibility to support your patients, and in the event a patient suffers personal injury during the course of your treatment you will also be considered responsible.
Bespoke Psychiatry Insurance Cover
To ensure Psychiatrists such as yourself are fully protected, we have crafted a bespoke Psychiatrists Medical Indemnity Insurance program.
This is designed to cater to all professionals within this field who are looking for alternative quotes from the usual private insurer. It is ideal for those who are looking to move away from main-stream union led protection and those who have suffered previous claims against them in the past.
It is widely known that claims made in the respect of these particular liabilities are more often than not extremely expensive. Should a claim be made against you and you are found legally liable, you will be expected to cover these costs regardless of the amount.
Coverage Against Loses and Claims That You Can Trust
Here are some of key elements of our Indemnity Insurance Policy for Psychiatrists: ·
- Claim Losses – We will cover you against the possible losses endured via a claim made against you.
- Flexible Cover – Our policies are flexible and open. Tell us your needs and special requirements and we will discuss how we can best help you obtain your desired level of coverage.
- Lower Premiums – Our policies are offered at competitive prices offering less severe premiums and payment plan options.
- Various Cover Options – We have a variety of cover options available to our Psychiatrists depending on the type of work they are conduct and the exposures they face in their day to day work. Fill out a quotation form or give us a call to further discuss what cover options are available to you. We will never offer you cover that doesn’t benefit you – providing you with coverage designed to fit your needs and no one else’s.
- ‘A’ Rated Security – Our Policies have been given that seal of approval = an A rated security level.
- Run Off Extensions – Our policies also include optional run-off extensions if you should require them.
As previously mentioned, claims made against you within this field can be extremely expensive. These costs can include the cost of defending yourself, to the costs you’ll need to cover should your patient be awarded any compensation.
Therefore ensuring you have the best cover possible is paramount.
Psychiatry Indemnity Insurance – Private Insurance Vs Medical Defence Unions
Although while many choose Psychiatrists Indemnity Insurance in favour of Medical Defence Union Cover, there is often confusion regarding which is the most appropriate choice.
Lots of Medical Professionals choose Medical Defence Union coverage as their main source of protection, not fully understanding the problems the face having made that choice.
In the event of a claim, Medical Defence Union Cover is Discretionary Cover. What exactly does this mean? Should a claim arise, the union you are a member of would first internally review your claim over in detail. After reviewing, your Medical Union will then make a decision: will they back you against this claim, or leave you personally liable and responsible for covering all your claim costs.
This means that should you find yourself with a lawsuit and your Medical Union decides not to defend you, you will have to pay out your claim in full, regardless of how much you paid your Medical Union for membership fees. It is worth mentioning that even if they don’t cover you for a claim, come your membership renewal, you will find your fees increase noticeably.
Discretionary Cover is not the cover you deserve. The cover you deserve is absolutely protection – putting your first before anything else.
Which is why Servca only offer legally contracted policies. Meaning if a claim occurs we will cover you no matter what.
By choosing privately organised Psychiatrist Insurance via Servca, we will cover any lawsuit made against you via policies that have been given an ‘A’ rating for security.
Benefits of working with Servca
High Quality Cover and Service We develop bespoke insurance solutions for our clients that are cost-effective and offer cover to protect our clients' interests, backed by 'A' rated insurers.
Contract-Certain Cover Unlike other providers, a policy from us will always protect you from negligence, covering you for any claim made during the active time of coverage, giving you complete piece of mind and security.
Market Comparisons We speak to all possible medical malpractice insurers and arrange a variety of quotes for you to consider so that you have different options to choose from.
Bound by FCA regulations and Treating the Client Fairly Everything we advise, do and commit to is regulated by the FCA and we obliged to always look out for the best interests of our clients.
No Excess In the vast majority of cases, you will have no excess to pay in the event of a claim.
Specialist Medical Indemnity Broker As pioneers in the healthcare liability insurance sector, we offer all our valued clients unrivalled advice and access to the world's largest insurance market (Lloyd's of London). Our Managing Director is a Medical Professional, so we fully understand your needs and tailor policies to suit you.