BIBA Launches Medical Indemnity Scheme with Servca
4th October 2017
The British Insurance Brokers’ Association (BIBA), has launched a new scheme with Lloyd’s broker Servca, giving BIBA members direct access to Servca’s specialist Lloyd’s backed Medical Indemnity cover for niche risks not typically accommodated by composite insurers.
Servca is an independent international specialist Lloyd’s Broker specialising in professional, financial and medical Indemnity insurance and risk management.
The new BIBA scheme offers exclusive terms on both primary and excess markets for standard and non-standard/distressed medical risks for most medical disciplines. Importantly the scheme is also backed by qualified in-house medical knowledge and its policy wordings carry full ‘Union style’ coverage including:
- 24-hour legal helpline
- Defence for professional disciplinary (GMC), regulatory, employment and patient complaints
- Flexible limits and variable excess options
- Locum and out of hours coverage
- Run-off cover
- Global Cover (including USA)
- Access to an in-house team of medical experts for specialist advice
Dr. Edwin Rajadurai (MBBS), Executive Director of Servca, said: “We’re very excited to have been chosen as a preferred supplier of Medical Indemnity insurance for BIBA members. This appointment is recognition of our expertise in this area. Our specialist wordings and unique in-house medical knowledge offers comprehensive support to brokers and their healthcare clients with an educational approach, helping brokers to win and retain business. We look forward to working closely with BIBA and its members throughout the United Kingdom to establish competitive insurance solutions for even the most difficult risks.”
Mike Hallam, Head of Technical Services at BIBA, said: “It is refreshing to find an intelligent approach to a market that needs innovative underwriting and distribution to tackle the unique requirements of today’s medical practitioners. Our members and their medical professional clients will benefit greatly from competitive premiums and dedicated service levels as well as access to Servca’s Lloyd’s A-rated capacity and expertise in medical indemnity, backed by in-house medical advice. Servca is an exciting new provider for BIBA and its members.”
Notes to editors
For further information on BIBA please contact:
|Pam Quinn, Head of Communications
020 7397 0223
|Leighann Forsyth; Deputy Head of Communications
020 7397 0223
For further information on Servca please contact:
SJ Wrigley, Spotlight Consulting on 07909546104 or [email protected]
About the British Insurance Brokers’ Association
The British Insurance Brokers’ Association (BIBA) is the UK’s leading general insurance intermediary organisation representing the interests of insurance brokers, intermediaries and their customers.
BIBA membership includes just under 2,000 regulated firms.
General insurance brokers contribute 1% of GDP to the UK economy and BIBA brokers employ more than 100,000 staff.
52% of all general insurance is sold by an insurance broker and they arrange 78% of all commercial insurance business.
Servca is an independent insurance group and London based Lloyd’s broker. It specialises in non-standard Professional, Financial & Medical Indemnity insurance and risk management, serving international retail clients and wholesale intermediaries. Servca also provides partner intermediaries with white labelled specialist lines binding authorities in US, North America and Europe.
Insurance brokers put the client’s interests first, providing advice, access to suitable insurance protection and risk management.
BIBA helps more than 250,000 people a year to access insurance protection through its Find a Broker service, both online and via the telephone.
BIBA is the voice of the sector advising members, the regulators, consumer bodies and other stakeholders on key insurance issues.