With an increase in the size of compensation awards in clinical negligence cases over the last decade, professional indemnity has never been more important for doctors.

Of the hundreds of thousands of patients seen and treated by doctors every day, the vast majority are satisfied with the care receive. But with the pressures faced by medical professionals, it is inevitable that mistakes will happen and when these mistakes harm patients it is important that they are able to seek compensation knowing that the doctor’s professional indemnity organisation is financially sound and able to fund a claim that could potentially run into millions of pounds.

Why MPS for Professional Indemnity?

The comprehensive professional indemnity offered by MPS offers a number of key features that make it superior to the cover available through insurance policies. MPS comprehensive professional indemnity is occurrence-based, which means that provided the practitioner was in benefit with MPS at the time of an adverse incident, he or she is entitled to ask for assistance, no matter when the claim arises, irrespective of whether the practitioner remains a member of MPS. 

Due to the considerable time-lag that often occurs between the time of treatment, and a subsequent claim, it has always been important for professional indemnity to extend into a doctor’s retirement. It is also essential that patients treated by a doctor who comes to practice in the UK for a short time, perhaps just for a couple of months, are able to seek compensation after the doctor has ceased practicing in the UK.

MPS also recognises the necessity of providing professional indemnity for the full range of treatments and procedures provided by doctors in all specialties.

Organisations that provide professional indemnity must be able to meet their financial obligations for all claims that may be made against them. Professional indemnity providers must have robust systems in place to calculate their liabilities accurately so that they set subscription rates or insurance premiums at appropriate levels to maintain full funding.