2015 AANSA Inaugural Conference2015 AANSA Inaugural ConferenceNurse Surgical AssistantsNurse Surgical Assistants

Brisbane, QLDBrisbane, QLD

PresentedPresented

byby

David MillingtonDavid MillingtonSenior Insurance BrokerSenior Insurance Broker

MGA Insurance Brokers Pty LtdMGA Insurance Brokers Pty Ltd

  (Australian Financial Services Licence No: 244601)(Australian Financial Services Licence No: 244601)

  August, 2015August, 2015

  DisclaimerDisclaimer

    Disclaimer: This presentation is only intended to provide a brief overview of Medical Malpractice Insurance. It is not intended to be Disclaimer: This presentation is only intended to provide a brief overview of Medical Malpractice Insurance. It is not intended to be comprehensive advice on the subject. MGA Insurance Brokers Pty Ltd accepts no responsibility or liability for any errors or omissions.comprehensive advice on the subject. MGA Insurance Brokers Pty Ltd accepts no responsibility or liability for any errors or omissions.

Today’s TopicsToday’s Topics

Who are MGA Insurance Brokers?Who are MGA Insurance Brokers?

What is it that we can offer you?What is it that we can offer you?

What is a Medical Malpractice Policy?What is a Medical Malpractice Policy?

What do you need to be careful about?What do you need to be careful about?

Claims Examples!Claims Examples!

Run-off Cover?Run-off Cover?

SummarySummary

Who are MGA Insurance Brokers Pty Ltd?Who are MGA Insurance Brokers Pty Ltd?

MGA Insurance Brokers Pty Ltd was incepted in 1975 and proudly celebrates its 40 th year this year.

We are one of the largest privately owned Insurance Brokerage’s in Australia.

MGA currently operates 38 branches throughout Australia, including once newly opened office in

Phnom Penh, Cambodia.

MGA handles client payments of approximately $240m.

MGA embraces the philosophy that our clients come first.

MGA contracts its Brokers, rather than employ them.

Yes, we are a Licensed Australian Insurance Brokerage, but in this particular facility, we are legally

registered to underwrite and place cover on behalf of CGU Insurance. Which simply means we can

formally quote and accept insurance cover without the need to be delayed by the involvement of an

additional party. Hence, it is common for MGA to provide you with a written insurance quotation within

3 working days, often the very next day!!

MGA saves you time, stress and money.   We work for you

What is it that we can offer you?What is it that we can offer you?

Or perhaps – what is it that you are looking for?

Put quite simply, MGA Insurance Brokers is an Insurance alternative when you are looking for one.

We decided about 20 years ago to set-up an insurance facility to specifically assist Individual Nurses

&/or Nursing Agencies. This facility will provide you with Medical Malpractice insurance cover and

automatically extends to cover Public Liability coverage as well.

What would I want if I was you?

Something that is easy Something that is competitively priced Something that has excellent coverage Something that does not impose a severe excess when claiming Plus an Insurer that you can count on in the event of a claim Sound professional advice

2015 AANSA Inaugural Conference2015 AANSA Inaugural ConferenceNurse Surgical AssistantsNurse Surgical Assistants

Something that is easy…

Phone us, email us or connect with on the internet?

Phone: (08) 8177 8302

Email: david.millington@mga.com

Web: http://www.mga.com/specialist-products/nurses-liability-and-professional-indemnity/

Yes, we do have a form for you to complete. But, it is only 3 x pages and virtually ever question is a Yes & No answers. The beauty with MGA is you are not required to complete another form at each and every annual

renewal. Just sign a one page Renewal Declaration!!

Something that is competitively priced…

Two common expiry dates for all of the Nurses insurance policies with MGA (ie. 31/3 and 31/10) Safety in numbers!!

2015 AANSA Inaugural Conference2015 AANSA Inaugural ConferenceNurse Surgical AssistantsNurse Surgical Assistants

Something that has excellent coverage…

We provide all of the usual Professional Indemnity covers and extensions as expected of a Medical

Malpractice policy; but in addition, we also provide: Defamation cover Liability for Good Samaritan Acts Not just written demands, but also verbal demands as well Misleading or Deceptive conduct under the ASIC Act of 2001 Investigations by AHPRA

Something that does not impose a sever excess when claiming…

No claims excess payable for Medical Malpractice related matters Public Liability matters $250 excess

2015 AANSA Inaugural Conference2015 AANSA Inaugural ConferenceNurse Surgical AssistantsNurse Surgical Assistants

Plus an Insurer that you can count on in the event of a claim…

CGU Insurance is a local Australian Insurer CGU Insurance is a local Australian Insurer Compliant with all of the Australian legal requirementsCompliant with all of the Australian legal requirements AA- credit rating by Standard & PoorsAA- credit rating by Standard & Poors Local Insurer means local underwriting and local claims peopleLocal Insurer means local underwriting and local claims people Specialised legal firms Specialised legal firms

Sound professional advice…

Whilst MGA Insurance Brokers are legally aligned to the Insurer CGU Insurance for the administration

of this facility, that does not prevent us from providing you with our years of knowledge and experience

having set-up this facility ourselves and managed it exclusively.

Medical Malpractice Medical Malpractice v’s v’s

Professional Indemnity????Professional Indemnity????What is the difference between What is the difference between Medical Malpractice Insurance Medical Malpractice Insurance and and Professional Indemnity InsuranceProfessional Indemnity Insurance????

Absolutely no difference at all. Absolutely no difference at all.

Medical Malpractice is a term commonly used in the Medical Industry, whereas Professional IndemnityMedical Malpractice is a term commonly used in the Medical Industry, whereas Professional Indemnity

is the more common term used in the Insurance Industry. So, you are likely to see & hear both terms,is the more common term used in the Insurance Industry. So, you are likely to see & hear both terms,

but don't be confused, they are one and the same.but don't be confused, they are one and the same.

In very basic terms, Medical Malpractice / Professional Indemnity protects you against breaches of In very basic terms, Medical Malpractice / Professional Indemnity protects you against breaches of your Professional duties.your Professional duties.

Limits of up to $20,000,000Limits of up to $20,000,000

What to watch out for?What to watch out for?

Be careful about who your Insurer is?Be careful about who your Insurer is?

Be careful about having a claims excess of $2,000 or more!Be careful about having a claims excess of $2,000 or more!

Do you have automatic reinstatement?Do you have automatic reinstatement?

Be careful what policy exclusions are written into your policyBe careful what policy exclusions are written into your policy

ClaimsClaimsExamples of possible claim incidents –Examples of possible claim incidents –

A patient suffers respiratory arrest resulting in hypoxic brain injury following the administration of A patient suffers respiratory arrest resulting in hypoxic brain injury following the administration of morphine post operatively. The patient’s speech and mobility have been impacted and a claim is morphine post operatively. The patient’s speech and mobility have been impacted and a claim is made against the nurse for negligence. made against the nurse for negligence.

Whilst administering CPR to a patient at the scene of an accident, the patient sustains further Whilst administering CPR to a patient at the scene of an accident, the patient sustains further injuries. A claim is made against you for compensation. injuries. A claim is made against you for compensation.

Object left inside a patient following a procedure. A claim is made against you for professional Object left inside a patient following a procedure. A claim is made against you for professional negligence.negligence.

AHPRA / ASIC InvestigationAHPRA / ASIC Investigation

Reporting Incidents / claims??Reporting Incidents / claims??

Run-off CoverRun-off Cover

Just because you retire, doesn’t mean your risk factor retires with youJust because you retire, doesn’t mean your risk factor retires with you

What is Run-off cover?What is Run-off cover?

7 x years ongoing risk7 x years ongoing risk

In Summary…In Summary…So, in summary –

If you are looking for an Insurance alternative, then MGA Insurance Brokers are very keen to assist you.

  We specialise in Nursing Insurance. (CN’s, CNC’s, RN’s, EN’s Nurse Practitioners, Nursing

Surgical Assistants)

  We have simplified the entire process. No more forms after the first year!

  Best cover for a competitive price (no Med Mal claims excess)

  Advice from 35+ years of working in the Insurance Industry

and 20 years of looking after a Nurses Insurance facility

  MGA will assist and advise you should a claim arise

Questions???Questions???

Enjoy your conference, and thank you.