Risk Management – How does it reduce the likelihood of a Claim?D...
Are you a Psychiatrist working within a private practice? Then you’ll be familiar with the level of exposure when it comes to legal action being taken against you. The legal action we’re talking about is referring to your legal responsibility for personal injury to a client throughout the course of your treatment.
Bespoke Psychiatrist Insurance Cover
We provide a bespoke Psychiatrists medical indemnity insurance programme that caters for all professionals within this field who are looking for alternative quotes from the usual private insurer. It’s also ideal for those who may want to move away from the mainstream union led protection and those who’ve had previous claims against them.
It’s widely known that claims made in respect of these particular liabilities can and often are, very expensive. This is with regards to defending oneself as well as the costs incurred should you be found legally liable. While many of course do choose psychiatrist indemnity insurance or the more common route of medical defence unions, privately arranged insurance covers have been found to be a lot more favourable.
Cover Against Loses & Claims
Some of the key points of what private insurance will cover you for:
- Cover you against the possible losses endured via a claim made against you.
- Tend to be a lot more flexible & open.
- Less severe premiums and more cover options to choose from.
As previously mentioned, claims made against you within this field can be extremely expensive, from the cost of defending yourself to costs you’d need to cover should they be awarded to the claimant. Therefore ensuring you have the best cover possible is paramount.
Private Insurance Vs Medical Defence Unions for Psychiatrists Insurance
While many choose Medical Defence Unions, membership of this sort doesn’t come without its problems. In the event of a claim, cover is considered discretionary. This means that if a claim were to arise, the union would first review the matter internally before deciding whether or not to defend you.
Worryingly this means you could essentially find yourself with a lawsuit and no protection whatsoever. It’s also worth noting that whether they choose to defend you or not, you’ll find your following year’s fees increasing hugely. Doesn’t sound too safe now does it?
By choosing a privately organised Psychiatrist Insurance via Servca however, you gain a contract of insurance. This contract of insurance is legally binding which means no matter what lawsuit is brought against you, you’re covered. You’re also covered by a contract that’s backed with ‘A’ rated security, offering optional run off extensions too.
Contact Servca About Psychiatrist Insurance Today
If you’d like more information on the bespoke psychiatrist insurance cover we offer here at Servca, don’t hesitate to contact us today. Our team are on hand at all times to answer any questions and offer any guidance needed to ensure you’re covered to the correct level for the best possible protection within your specific medical field.