Palm E Brochure (V2)

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What we offer at PALM

Transcript of Palm E Brochure (V2)

  • 1. HEALTH SECTOR INSURANCE IN SAFE HANDS www.palm-insurance.co.ukA strategic partnership between and

2. CBG has formed a strategic partnership with MPS Risk Solutions to fill this void and enable the health sector to arrange all their necessary insurances from one simple and competitive source PALM. PALM offers insurance to cover all aspects of the services delivered by Healthcare providers, across the full range of insurance types, from malpractice through to property, motor and liability insurances, to name but a few.PROTECT / ASSETS / LIABILITIES / MALPRACTICEAt CBG we constantly review the marketplace to ensure we secure the best MPS Risk Solutions was keen to team up with CBG based on the strengthterms for all our clients. During this on-going process, we noticed that the and integrity of our working relationship, the knowledge of our staff, ourinsurance industry pretty much shied away from any business activity thatunderstanding of the health sector and our approachability and service-could result in medical malpractice claims.focussed culture.After taking a closer look, we realised it was most likely because the statutory MPS Risk Solutions, simply through being part of MPS has a unique andrequirement of practitioners to obtain indemnity as an individual from a enviable position in arranging malpractice insurance for corporate Healthcaremedical defence organisation meant most malpractice cover was beingproviders.provided by the MPS Risk Solutions or MDU. Our vision is that, working together, we can fully understand the risksThis historic process has resulted in insurance companies having limited associated with healthcare services, and can draw on our extensive knowledgeknowledge of the health sector, including its methods, practices, technology and expertise to provide suitable and cost effective insurance solutions forand, most importantly, malpractice claim types and profiles. you. suitable and cost effective insuranceA strategic partnership betweenand solutions for you 3. IS YOUR INSURANCE work without worry, and gives you theCovers available:confidence of knowing that issues will, atIN SAFE HANDS?least, be covered financially. Material damage Public Liability Loss of Revenue Locum InsuranceHealthcare insurance has become Our general insurance covers offer Legal Expenses Engineeringincreasingly important in recent years. All protection for the broad range of Director and Officers Vaccineskinds of things can go wrong in either theinsurance requirements in the healthcare Employers Liability Theft by Employeeperformance or delivery of services and industry. With adequate protection in Motor Fleet Computersif a claim is made involving, for example,place, we can ensure your business or Employment Practices Liability And much more...neglect, misdiagnosis or duty of care, thepartnership is secure. Medical Malpracticefinancial ramifications can be severe. Goods in TransitHaving extensive cover in place allowsyou to concentrate and focus on your focus on your work without worry 4. ?DID YOU KNOWEVERY HEALTHCAREEMPLOYER IS EXPOSEDTO VICARIOUS LIABILITY?No? The fact is, as an employer,you can be held responsible for theactions of your staff, and can beliable to pay compensation. Wevefound that a worrying number ofemployers in the healthcare sectorwere unaware of their obligations.This legal principle is known asVicarious Liability. 5. ! !!VICARIOUS LIABILITYARE YOU EXPOSED?There are several types of relationships that might existbetween an employer and employee and, in every case, asthe employer (or principal), you can be held liable for theactions of others.The most common relationship is that of employer andemployee under a Contract of Service. In this type ofrelationship, an employer will always be liable for any loss orinjury his employee causes to a third party within the scope oftheir employment.However there are many other circumstances where abusiness can also be held vicariously liable for the actions ofsomeone who is not their employee. A Partnership. Business partners can be consideredliable for the actions of other partners in work accidentcompensation claims. Also, if the partnerships liability isJoint and Several and there is no insurance in place forthe partnership, then individual partners can be personallyliable for the acts of a colleague. Contract for Services. You might engage personnel ona self-employed basis under a contract for services.However, if you exercise a degree of control over the waythese people provide their services, you can still be heldvicariously liable for their acts and omissions. Agents. You can also potentially be held vicariously liablefor anything you instruct an agent to do on your behalf.A simple Rule of ThumbWhere an employee, personnel, agent or contractor is workingunder your direction and control, you will usually be held liablefor their actions and, in turn, will be financially liable for anycompensation claims. 6. CORPORATE PROTECTION Working in such a high pressure industry where mistakes can be fatal is stressful enough, without having to worryFROM EMPLOYEE MALPRACTICEabout the financial ramifications of your or your employees actions. So, extensive malpractice insurance is essential for any medical professional or medical establishment providingWith a claim culture firmly established, and a high margin for error in healthcare services, any medical or healthcare services, to protect your businessMalpractice insurance is more important than ever before.and allow your employees to concentrate on their work.The financial consequences of claims for neglect, misdiagnosis and duty of care can be In recent proposals to the Health Service, due to besevere and can put the future of your organisation in jeopardy.implemented in the forthcoming years, the Government has indicated that they plan to simplify the legal procedure for personal injury and want to do the same for low value medical negligence cases. If its easier to claim, having adequate protection in place will be even more vital. To ensure the protection offered by PALM consistently reflects the changing needs of Service Providers, the cover will be continually evolving to meet any upcoming Legislative changes. A watching brief will be maintained on NHS Contracts and the evolving GP Consortias and protection will reflect any changes to Schedule 9 or equivalent conditions. Finally, weWorking in such a highcan be fatalindustry shall maintain an open line of communication with the Dept pressureof Health to ensure the insurance protection is in line withwhere mistakes their intentions and aspirations.is stressful enough 7. RISK MANAGEMENTGOOD PLANNINGREDUCES PREMIUMSThe simple premise for all insurance is that the premiumcharged reflects the risk of claims that underwritersbelieve you face.If you can demonstrate a proactive and positive approachto risk assessment and management, underwriterswill reward you with reduced premiums that reflect theassumed reduced exposure to claims.Positive risk factors can take many forms from additionalsecurity for property through to Health & Safety training,all will have a positive rating impact to differing degrees. 8. LOCUM INSURANCEFINANCIAL ASSISTANCEFOR PEACE OF MINDWe recognise that if a member of staff is unable towork, and needs replacing, this results in a great dealof additional pressure placed on colleagues, as wellas the unexpected financial costs of paying for areplacement being borne by the business. Our uniquepolicy is specifically designed to cover the cost incurredin employing a Locum to replace the absent member ofstaff.As we designed the Policy ourselves, it offers uniquecover extensions specifically designed for anyoneinvolved in the provision of Health services. The coveris constantly being reviewed and tested against ourcompetitors to ensure it remains market leader. The latestextension being reviewed will include absence followinga suspension by GMC, pending the final outcome of anyinvestigation.We believe our policy offers a very cost effective methodof protecting any organisation from sudden & unforeseenunique cover extensions specificallydesigned for anyone involved in theLocum costs that can unexpectedly hit any budget.provision of Health services 9. MEDiC MEMBERSHIP FOR EMPLOYEDMEDiC is the simple, straightforward way in which policyholders of MPS Risk Solutions (part of the PALM team)DOCTORS IN CORPORATEScan secure occurrence based, discretionary MPS indemnity for all of the doctors you employ. Some important advantages of having all the clinicians/ practitioners within your organisation having membership with MPS are: Discretionary occurrence-based indemnity is the best choice for doctors and is provided by one of the worlds largest Medical Defence Organisations MPS. Companies can feel secure in the knowledge that all of the practitioners working for them are indemnified at all times and therefore comply with their own insurance requirements and warranties. MPS and MPS Risk Solutions use the same claims handling and advisory teams, which means conflicts are minimised when claims occur that affect both the individuals and the company. Often claims may involve more than one cliniciansecure occurrence based,ofdiscretionaryMPS indemnity for all the doctors so delays in handling any malpractice claims will be minimised as we deal with everything under one roof. you employ 10. T.U.P.E. TRANSFER OF UNDERTAKINGSWhen you take on former NHS staff, you have a legal obligation to match their previous employment contract. Some aspects will be(PROTECTION OF EMPLOYMENT) considered commercial risks and will be acceptable, whereas others may be considered too much of an exposure. This means that you may need Group Insurance protection to cover sickness absence or deathUnder current legislation, the employment rights of employees arein service.protected when they transfer from one employer to another. Palm has a