Medical / Allied Health Insurance

One of the success factors for any medical or allied health business is how risks are managed. Working in the Medical sector comes with its own range of risks:

• patient injury and loss claims,
• employment issues,
• complaints, inquiries and investigations,
• responding to an audit,
• reputation of the practice, or
• other unforeseen incidents,

can result in significant financial losses for your business.

There are a number of ways that risks can be managed, having structured business and compliance practices with ongoing training and education of your people. However, despite how well you plan and manage your business, things can still go wrong. This is where Medical and Allied Health Insurances comes in.

PSC Insurance Brokers Medical Insurance Knowledge

The core of your Medical organisation is to help others, however, it’s just as important to protect your business too. PSC Insurance Brokers has worked comprehensively in the medical sector, having provided insurance solutions to various businesses and associations industry-wide. As such, we know the specific risks faced by your business, and how to best protect against them.

At PSC, we do more than secure cover for you. We work closely with all of our clients to ensure we add value to all aspects of the business through comprehensive cover and complete risk management strategies. We take the time to fully understand your medical business so that we can fully evaluate risks and ensure your operations and assets are protected.

Our specialist medical insurance brokers are dedicated to providing considered advice. We only recommend policies after an in-depth analysis of your business. We also guarantee cost-effective premiums through leveraging our scale with both national and international insurers and underwriting.

While our main role is placement of your business insurances, we ensure that we add value to your business as a whole. We are dedicated to helping you protect your operations and assets through providing comprehensive risk management strategies.

We have in-depth experience in the Medical Services sector, having provided insurance solutions for a wide variety of professions including (but certainly not limited to) the following:

• Hospitals
• Clinics
• Radiology Networks
• Allied Health
• Aged Care and Home Health Care
• General Practitioners and Physician Groups
• Dentists
• R&D and Clinical Research
• Manufacturers – pharmaceuticals, medical devices biotech products and nutraceuticals.

How can we help?

There are a number of Medical Insurance covers available that address a wide-reaching range of liabilities. As such, finding the right cover for your medical business can be complex.

With PSC, our Insurance Brokers will help you source a policy that matches the specific requirements of your business to ensure you are adequately protected.

Medical businesses face a diverse range of risks in their various industries due to the services that they offer. It’s important that Medical businesses take steps to manage their risk and protect employees, patients and the business in the event that something goes wrong.

Medical insurance is a necessity for all businesses operating in the industry, no matter what niche you specialise in. Depending on the way your business is set up and the services that you offer, certain types of insurance will be mandatory for your business.

You should not rely solely on mandatory insurance cover for your risk management strategy. Other types of insurance are available to address the specific risks faced by your medical business to ensure you do not face severe financial consequences in the event that something goes wrong.

Medical insurance provides protection for Medical businesses against a wide range of risks. PSC Insurance Brokers can help source and tailor policies considering all of your exposures and legal obligations including:

• Medical Malpractice – Entity and Individual Practitioners cover
• Cyber/Data Security
• General Liability
• Property Damage & Business Interruption
• Clinical and Medical Trials
• Product Recall
• Terrorism.

In order to ensure you are fully covered, you need an insurance policy that can be tailored to meet the specific requirements of your medical business.

With the right insurance in place, you can rest assured your business is protected from a range of unexpected circumstances, which ensures the future revenue and success of your business.