Servca, the independent international specialist Lloyd’s broker, has today announced the launch of a new wholesale medical malpractice policy that for the first time covers doctors’ liability for Category 2 work i.e. private work such as expert witness reports.
NHS Doctors’ private work has increased significantly over the past few years as doctors look to other ways to increase their income. GPs and Psychiatrists in particular are seeing that there is greater demand for this type of work.
The specialist policy is underwritten by Lloyds and London market ‘A’ rated capacity and can provide limitless medical malpractice cover, if required. The cover is designed to sit alongside and supplement a standard medical malpractice policy.
Dr Edwin Rajadurai, Associate Director at Servca, said: “We specialise in identifying and finding cover for those niche areas or distressed risks that standard policies don’t cover. Doctors’ private work has risen dramatically in recent years and yet this type of work falls outside the scope of most med mal policies. We identified this as a growth area and one which needed addressing with a specialist policy. We’re delighted to say that the Medical Defense Shield and BAPIO have both already purchased the policy in volume for its members and we are now making the policy available to brokers.”
As well as specializing in distressed risks in medical malpractice and professional lines, Servca has unrivaled access to markets for non-standard global financial risks. The focus for the business is to develop specialist non-standard solutions for rapidly growing lines, such as Cyber, FinTech, Financial Institutions, Professional and Medical Indemnity and specialist Corporate/SME.
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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 labelled specialist lines binding authorities in US, North America and Europe.