Why Take Chances with Medical Malpractice When You Can Call on a Specialist?

Feb 2019

South Western Insurance Group Limited’s sister company, MedThree Insurance Group, has been underwriting complex medical malpractice risks since the firm’s launch in 2014. While other MGAs dabble in healthcare, 90% of MedThree’s business revolves around medical malpractice insurance – making them an undisputed specialist when it comes to tackling the unique liability risks faced by Canadian healthcare and life science professionals, facilities, and organizations. “Medical malpractice insurance plays an integral role in protecting medical and healthcare practitioners – as well as the facilities they work in – against claims of negligence, errors, and omissions resulting in bodily injury to a patient,” says senior underwriter Myra Capinpin. Which is why her company’s specialist approach extends to:

  • Regulated Health Professionals and Non-Regulated Healthcare Practitioners,
  • Senior Care,
  • Spas & Medi-Spas,
  • Surgical Facilities, and
  • Multidisciplinary Clinics

“Most healthcare professionals are required to carry medical malpractice insurance,” Capinpin notes, “but while some facilities cover employees under their own policies, that is not typically the case for independent contractors.” Personal support workers, she points out, provide support to the sick, the elderly, and those who need daily living assistance. This can range from PSWs that work in a nursing home setting to those that work directly in a client’s residence as an independent contractor . “So they still need medical malpractice professional liability protection.” Whether your client is a chiropractor, diagnostic laboratory, weight loss clinic, or medical device manufacturer, here are the key coverage points and options you can expect from MedThree:

  • Maximum Limit: $10,000,000
  • Combined General Liability and Professional Liability form
  • Professional Liability – occurrence or claims made form available
  • Legal Expense cover available
  • Abuse cover (both indemnity and defense cost) available
  • Up to 36-month Extended Reporting Period (longer ERP period available upon request)
  • Defense Cost in addition to policy limit available
  • Punitive Damages coverage (sub limited up to $1,000,000)
  • Worldwide Jurisdiction option available

Capinpin believes it is especially important for brokers to understand that MedThree does not write anything outside the healthcare and life sciences domain. Because placing medical malpractice for healthcare facilities and healthcare professionals is essentially all her company does, they have the ability to tailor their coverage to meet an individual client’s needs. The ability to approach medical malpractice coverage as a niche or specialty product is an enormous advantage for brokers in terms of options, says Capinpin – and that is especially important in a space where thousands of different scenarios exist. “This is not a cookie cutter product. And while there are quite a few domestics offering medical malpractice insurance, it can sometimes be difficult to find the right fit. We not only specialize in placing the more complicated risk situations out there, we offer straightforward coverage as well. In either case, it is our extensive experience in the medical malpractice arena that allows us to provide solutions that ensure every client is properly covered.”