INSURANCE
Medical Malpractice Insurance
APM has entered into an arrangement with BGi Insurers. We've done this because we feel that they offer the best cover, the best value for money, and the best customer service. We have no interest in the arangement (that is, we get no benefit of any sort from recommending them), our recomendation is made entirely on the basis of what we feel is a good deal for our members.
To take advantage of this, you need to be a full member of APM (ie not limited to free material only!). Log into the site and you'll see the link to the application form on the right.
Not yet a full member?
BGi is just one of the many, many benefits of being part of The Academy's community. If you haven't already done so, you can try us out for a whole month for just £6. Otherwise there is a range of options for you to choose from, giving you access to unrivalled support from our team and a fabulous range of CPD throughout the year.
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THE ESSENTIALS OF INSURANCE
It's a condition of registration for all osteopaths and chiropractors to have adequate indemnity in place. This means both professional indemnity (aka medical malpractice) and public liability. In theory, this can be done otherwise, but in reality normal mortals will take out an insurance policy.
This is what the law requires of osteopaths and chiropractors:
You must have an indemnity arrangement in force that covers the following prescribed risks
- negligent acts, errors or omissions
- claims for public liability or product liability arising from death, injury or damage to property (note that this includes products you might supply)
- any of the above risks which are attributable to your employees, partners, associates, co-directors or agents for services carried out on your behalf or under your supervision
- legal costs of all proceedings and any costs, fees or expenses incurred in defending any claim
- you must have run-off cover for any date after the event which gave rise to the claim. This includes after you cease practice, if you change provider and if you take a temporary break from practice.
Your minimum indemnity cover must be £5,000,000 in the aggregate (whatever that means!). Of course you can increase the cover if you want to, but £5,000,000 is what the General Councils require and there really is no need to go higher.
Here are some other considerations that you must take into account:
- Check, and make sure you are happy with, any exclusions stated in your policy.
- That you understand the definitions of terms contained in your policy.
- That your policy covers any temporary periods when you aren't working for whatever reason (maternity or illness, perhaps).
WHY ARE WE RECOMMENDING BGi?
First of all, their cover is very flexible. If you don't use HVTs, for example, your premium will be adjusted accordingly.
You might use adjunctive therapies such as laser, IDD or dry needling. BGi will insure you on the basis of the reputation of the instructors or therapy, not on some arbitrary criterion such as the length of the course. The dry needling course which we host at APM is covered because Professor Gerwin and Simeon Niel-Asher are world experts in this topic, for example.
The policy offered by BGi is on a "claims made" basis, but with retrospective cover extending right back to when you started in practice (provided you were insured at the time, of course!) and 12 months run-off cover to allow for periods when you are not working.
Lastly (and lowest in the list of priorities!) BGi's premiums are extremely competitive. With the APM Member's discount they are possibly slightly lower than most alternatives. If you can find cheaper policies elsewhere, take a good hard look (and bear in mind the ten questions you should ask).
What's more, we are constantly exploring with BGi ways in which we can improve the cover offered, in particular how we can minimise the time taken between complaints arising and resolution of the case.
You probably won't realise how important your insurance policy is until you need it. Don't make cost your primary consideration.
Get a comprehensive policy that will minimise the stress when the wotsit hits the windmill.
We believe that BGi provide both great cover, good value for money and excellent customer service.
If you'd like to speak to someone about this (and as mentioned above, their customer service is excellent), call on 01367 246157.
Note: Neither APM nor any of its staff receive any benefit as a result of this recommendation. Steven uses BGi for his own medical insurance, but receives no greater discount than any other APM member. Our recommendation is made solely on the basis that we think they are a highly reputable broker, offering a very comprehensive policy.