Servca, the independent international specialist Lloyd’s broker, has today announced the launch of its new wholesale Medical Indemnity (MI) scheme. This is a global, specialist, healthcare practitioners’ broker only scheme focusing on both standard and non-standard risks for all medical disciplines. Brokers can white label the scheme enabling them to offer their healthcare practitioner clients with specialist A rated Lloyds cover for Medical Indemnity.
A first in the market, this scheme offers full medical regulatory and tribunal union-type cover, whilst unlike Unions still delivers non-discretionary terms and guaranteed 3 year renewal on premiums.
The launch of Servca’s new MI scheme is the latest step in the broker’s aggressive growth strategy, filling gaps in the market for complex and rapidly growing lines. The MI and healthcare division led by newly appointed Associate Director Dr Edwin Rajadurai (MBBS), delivers a fresh, intelligent approach to a market that has long been crying out for innovative underwriting and distribution to tackle both the unique needs of today’s medical practitioners and the challenges of emerging technological advancement.
Dr Rajadurai is a qualified Doctor, with an established reputation in delivering a risk managed consultative approach to medical indemnity insurance. Under his leadership Servca has secured the very best Lloyd’s A-rated capacity and access to a range of solutions from specialist delegated authority entities to deliver medical professionals with bespoke comprehensive cover, tailored policy wordings, and rapid response in-house claims handling. As well as competitive premiums and excess limits the scheme covers:
- On-going claims, disciplinary action
- Disciplinary committee of a professional body e.g. GMC, GDC
- Health authority or primary care trust (or country equivalent)
- Health board or primary care trust
- Complaint Proceedings or NHS Tribunal (or country equivalent)
- Inquest proceedings or fatal accident inquiry (or country equivalent)
- 24/7 Legal Helpline with GBP 50,000 legal cover (UK & EIRE)
- Optional retroactive and run-off cover
- Access to an in-house team of medical experts for specialist advice
Dr Edwin Rajadurai, Executive Director and Global Head of the Healthcare Division at Servca comments: “We are delighted to launch our new wholesale Medical Indemnity offering. Whether it be doctors, nurses, surgeons or other healthcare professionals, we can deliver a consultative approach and access to cover that is tailored to the precise needs of their profession and individual role. In an increasingly litigious world responsive MI cover is invaluable for medical practitioners. Not only do we deliver a fresh approach and access to the best cover in the market, but we ensure that should a claim be made against them, they have complete peace of mind that legal expenses and compensation payouts are covered, and that their career and reputation is in safe hands.”
For further information, or interviews with Nomaan Jamal or or please contact:
SJ Wrigley, Spotlight Consulting: sj@spotlightconsulting.co.uk 07909546104
About Servca
Servca is an independent insurance group and London based Lloyd’s broker. It specialises in non-standard Professional, Financial & Medical Indemnity insurance and risk management, serving international retail clients and wholesale intermediaries. Servca also provides partner intermediaries with white-labeled specialist lines binding authorities in US, North America and Europe.