INSURANCE SPECIALISATIONS

Biomedical Insurance and Medical Indemnity Insurance

Biomedical insurance has become a specialist class of insurance as  Australia has developed a leading position in medical research and development.  This research extends past human outcomes to plants, animals and the environment.

The industry has two specific needs in biomedical insurance. Firstly, the need for Directors’ & Officers’ Insurance  for research companies who by their nature generally have low equity  in their balance sheets and a constant need to raise funds.  Products Liability is another concern particularly where drugs under deveolpment are forwarded to other facilities around the world for further trials.  RJ Neville & Associates are leaders in responding to the insurance needs of such companies.

Medical Indemnity Insurance is a pre-requisite for any medical practitioner or medical facility.  Our experience through the 2002 medical indemnity crisis where we provided clear and supportive advice to doctors, concerned with practicing potentially whilst uninsured, gave us a clear understanding of the needs of this profession.

Medical Indemnity insurance extends to practice liabilities, day surgeries, the nursing profession and private hospitals.  The current market is an expanded version of what was available three years ago and there are now several new providers of medical indemnity insurance.  However each has their own special offering and the experience of a specialist insurance broker is necessary to identify the most appropriate policy coverage for each  application.