As claims for negligence soar, insurance premiums for medical indemnity - across the board in healthcare - continue to rise. Some believe the fix is to limit the costs of claims by capping payouts, legal fees, damages awards and so on.
Our view is more pragmatic:
Improve patient care and the number of claims will fall
Address patient complaints quickly, recognise where there is fault, apologise and settle where appropriate
Defend robustly where there is no fault or a good defence
As you’d expect, fewer claims can lead to more affordable insurance. That’s why we put patient care at the heart of healthcare insurance.
We’re dedicated to improving the care you give your patients
We work with physicians’ groups, corporate healthcare – care homes to private hospitals – and the NHS, including foundation trusts. And because we understand how they’re interlinked, we approach your insurance needs like an insider from both healthcare and insurance.
By sharing lessons learnt across the healthcare sector, we enable you to reduce your risks, provide better patient care, while reinvesting the money you save from lower premiums*.
We bring healthcare professionals together, engage with them one to one and in groups, listen to and learn about the challenges they face, then develop schemes that cut the cost of their insurance.
Raise awareness of issues found in one part of healthcare, and their solutions, and share these with the rest of the profession
Provide insurers with the data they need to change the way they approach healthcare insurance, and give them the comfort they need to take on risks they might otherwise avoid
And we’re known for creating a number of healthcare firsts, including:
Insurance schemes for out-of-hours healthcare providers, which increased the number of GPs contracting with them
An all-inclusive deal for a GP federation, which covers all the GPs in the group
A corporate deal for dentists, where we offer insurance at a significant discount to all the dentists in a corporate organisation
An occurrence form of indemnity, making benefits contractual so there’s no doubt what you’re covered for
When a provider of outsourced healthcare services wanted to encourage GPs to practise out of hours, to reduce a shortage, they called on Lockton. We audited their services, which showed they performed to the highest standard. Based on this history rather than on the risks of rare cases, we convinced a Lloyd’s syndicate to sign up to a new type of agreement. Instead of each GP having to get their own insurance for their out of hours work at considerable cost, the provider covered their indemnity at no cost to the GPs. As a result, GPs under contract increased 50%, giving nearly 10% of the population access to doctors out of hours.