We are introducing two key changes to membership for paediatricians on a high-risk grade:
- The discretionary indemnity limit of TT$36 million on your occurrence-based membership will change from per individual adverse incident to the total of all adverse incidents reported in a single membership year.
- A claims-made membership option will be made available which will also have a discretionary indemnity limit of TT$36 million per membership year.
Changes to the discretionary indemnity limits on your current membership
As a member on a high-risk paediatrics grade, you currently have occurrence-based membership with a discretionary indemnity limit of TT$36 million per individual adverse incident. There is currently no limit to the total expenditure for all adverse incidents reported in a single membership year. From 1 January 2020 this is changing, and all indemnity and assistance provided in a single membership year will be limited to TT$36 million per adverse incident and the total of all adverse incidents reported in a single membership year. This is commonly known as in the aggregate. This change will not affect any open cases you may have with Medical Protection.
All other membership benefits will remain the same.
On 1 March 2020, we are introducing claims-made protection as a new membership option, giving you and other members on a high-risk paediatric grade a choice in the type of protection you purchase from us. Like the occurrence-based membership, this type of protection will also have an indemnity limit of TT$36 million.
Claims-made protection may be more affordable for you in the early years, but there are some important differences between the two types of protection, particularly when it comes to reporting adverse incidents and protecting yourself against claims in retirement. Please review the product features carefully before deciding which one best meets your needs.
A brief overview of the two types of protection can be found below: