Income Insurance Online :: News
SHARE

Share this news item!

Medical Professional Coverage Costs Under Scrutiny

Medical Professional Coverage Costs Under Scrutiny

Medical Professional Coverage Costs Under Scrutiny?w=400

The information on this website is general in nature and does not take into account your objectives, financial situation, or needs. Consider seeking personal advice from a licensed adviser before acting on any information.

Amid rising concerns, the Australian Medical Association (AMA) has flagged the escalating expenses associated with indemnity insurance premiums as a serious issue that demands attention.

Following a heated discussion at a recent national conference held on the Gold Coast, the AMA and its New South Wales branch convened with a number of medical defence organisations to tackle this pressing matter.

During these meetings, participants delved into changes in healthcare delivery and the evolving scopes of medical practice—factors contributing significantly to the rising costs within the medical indemnity sector.

According to a statement published on the AMA’s website, the Medical Defence Organisations (MDOs), which largely operate as member-based mutual entities, acknowledged the industry's growing unease. They shared global insurance market trends and emphasized the importance of maintaining open communication and collaborative efforts with the AMA to address systemic policy issues. Despite the need for cooperation, the constraints of competition law were noted as a limiting factor.

The organizations represented at the meeting included key industry players such as Avant, MDA National, Medical Indemnity Protection Society, MIGA, and Tego.

In its latest report, Avant informed Insurance News that their average rate increments have managed to remain below inflation for several renewal periods. Nevertheless, certain specialized fields have experienced sharp double-digit rate hikes due to specific claim frequencies and severities, affecting less than 1% of their membership.

Published:Wednesday, 4th Sep 2024
Author: Paige Estritori

Please Note: We do not endorse any specific products or companies. Some content is sourced from third parties, including press releases, and may not be independently verified for accuracy or completeness.

Share this news item:

Rate this article

Sign in with Google to rate

0 Comments

No comments yet. Be the first to share your thoughts.

Insurance News

What the New NSW Disclosure Rules Mean for Strata Cover
What the New NSW Disclosure Rules Mean for Strata Cover
09 Sep 2026: Paige Estritori
The latest phase of New South Wales strata reform has brought strata insurance disclosure back into practical focus, moving the issue from policy debate to renewal-season reality for owners corporations. The changes are designed to make it clearer when a strata managing agent, broker, insurer or related party receives a commission, fee or other financial benefit connected with arranging insurance. - read more
What a Steadier Life Insurance Market Means for Employers
What a Steadier Life Insurance Market Means for Employers
09 Sep 2026: Paige Estritori
Fresh life insurance performance data from APRA points to a market that is steadier than the disrupted conditions seen in recent years, but not one where employers can afford to be passive. For CFOs, HR leaders and directors, the message is less about a single quarterly result and more about the operating environment behind corporate life insurance pricing, claims service and product design. - read more
Why NSW Levy Reform Matters for Trade Businesses
Why NSW Levy Reform Matters for Trade Businesses
09 Sep 2026: Paige Estritori
A fresh push to reform how NSW funds emergency services has put insurance affordability back in the spotlight, especially for small businesses that already feel every increase at renewal time. The issue centres on the Emergency Services Levy, which is applied through many insurance policies and has long been criticised by parts of the insurance sector as a disincentive to maintaining adequate cover. - read more
New APRA rules put insurer systems under the spotlight
New APRA rules put insurer systems under the spotlight
09 Sep 2026: Paige Estritori
Australia’s tougher operational risk regime is sharpening the focus on how life insurers manage the systems, partners and processes that sit behind every policy. APRA’s CPS 230 standard requires regulated insurers to identify critical operations, set clear disruption tolerances and strengthen oversight of material service providers. For customers, this is not just a back-office compliance story. - read more
Why Claims Handling Scrutiny Matters for Business Owners
Why Claims Handling Scrutiny Matters for Business Owners
09 Sep 2026: Paige Estritori
Fresh compliance attention on life insurance claims handling is a timely reminder that cover is only valuable if it can respond clearly and efficiently when a business is under pressure. Recent industry monitoring has again highlighted familiar issues for life insurers, including claim delays, communication gaps, repeated evidence requests and the need for more consistent support where customers are vulnerable or dealing with complex medical events. - read more
Click for more Insurance News


Life Insurance Articles

How to Compare Income Protection Insurance for Self-Employed Australians
How to Compare Income Protection Insurance for Self-Employed Australians
For self-employed Australians, the financial stability provided by consistent income is the backbone of both personal and business success. Unlike traditional employees, who might have access to sick leave or employer-sponsored disability benefits, self-employed individuals are solely responsible for their financial security in the event of illness or injury. This is where income protection insurance steps in as a crucial safeguard. - read more
Income Protection Insurance: A Lifeline for Freelancers and Contractors
Income Protection Insurance: A Lifeline for Freelancers and Contractors
In today's dynamic gig economy, freelancers and contractors are an essential part of Australia's workforce. Choosing flexibility and autonomy over traditional roles, these professionals enjoy the freedom to manage their schedules and select projects that align closely with their interests. However, this lifestyle brings unique challenges, especially regarding financial security. - read more
Separating Fact from Fiction: The Myths of Income Insurance Revealed
Separating Fact from Fiction: The Myths of Income Insurance Revealed
Have you ever thought about how you would manage financially if you couldn't work due to an illness or injury? Income protection insurance is designed to replace a significant portion of your income if you find yourself unable to earn for an extended period. It's an essential safety net, providing peace of mind and financial stability during times of uncertainty. - read more
Income Protection vs. Total Permanent Disability: Which Is Right for You?
Income Protection vs. Total Permanent Disability: Which Is Right for You?
Financial security is crucial in today's unpredictable world, where unexpected events can disrupt the stability and comfort of our daily lives. For Australians, protecting one's income and lifestyle from unforeseen circumstances is a key component of personal finance. - read more
Navigating Pre-existing Conditions in Income Protection Insurance
Navigating Pre-existing Conditions in Income Protection Insurance
Income protection insurance is a safeguard that provides individuals with financial stability in the event they are unable to work due to illness or injury. This type of insurance typically replaces a significant percentage of the insured's income, ensuring that their financial commitments can still be met during periods when they cannot earn an income through employment. - read more

Knowledgebase
Rider:
An optional provision added to an insurance policy that provides additional benefits or coverage.

Quick Links: | Income Insurance | Income Protection Insurance | Income Insurance For Self-employed | Income Insurance Quotes | Best Income Insurance Australia | Income Insurance For Employees | Income Insurance Comparison | Income Protection For Contractors | Temporary Income Protection | Income Replacement Insurance | Income Protection Policy
This website is owned and operated by Clark Family Pty Ltd (ACN 010 281 008) as Trustee for the Clark Family Trust (ABN 35 957 893 714), 43 Larch Street Tallebudgera QLD 4228. Clark Family Pty Ltd is an Authorised Representative (AR 1298860) of Unique Group Broker Services Pty Ltd (AFSL 509434) for financial product referrals and an Authorised Credit Representative (ACR 401491) of Saccasan Pty Ltd (ACL 386297). Check our licensing details on the ASIC registers: Clark Family Pty Ltd ACR, Clark Family Pty Ltd AR, Saccasan Pty Ltd, Unique Group Broker Services.
IMPORTANT: We act solely as an introducer and refer enquiries to licensed third-party brokers, insurers, and lenders. We do not provide financial product advice or credit assistance. We may receive a fee or commission from these third parties in consideration for the referral. Before any action is taken to obtain a product or service referred to by this website, advice should be obtained (from either the third party to whom we refer you or from another qualified intermediary) as to the appropriateness of obtaining those products having regard to your objectives, financial situation and needs. Whilst we have our own process for validating the legitimacy of our referral partners, you should independently verify the credentials and licensing of any adviser or provider you engage. Visit the ASIC website for further information.