Insurance: an alternative option
At MDDUS, our members are the focus of everything we do. We have the flexibility to deliver an efficient and personalised service that meets our members’ needs and expectations and responds to market demand. Following an increasing number of enquiries about an insurance-based indemnity product, we would like to introduce our existing MDDUS corporate and group members to MDDUS Services Ltd (MSL), an MDDUS Group Company.
Who is MSL?
MSL is a UK-based insurance intermediary, authorised and regulated by the Financial Conduct Authority. MSL can act as your agent in arranging medical malpractice insurance products for your group or organisation. MSL arranges insurance with MDDUS Insurance Ltd (MIL), an insurance company based in Guernsey and regulated by the Guernsey Financial Services Commission. Like MSL, MIL is a wholly owned subsidiary of MDDUS.
Key differences between an insurance policy and a discretionary indemnity product
Customers should note that the terms of the MIL insurance policy differ from the traditional MDDUS discretionary indemnity product in a number of key areas. For example:
- The insurance policy is “claims-made”, meaning that assistance is only available if you are insured both when the incident occurred and when the claim or potential claim is reported.
- The insurance is governed by comprehensive policy terms and conditions, which place contractual obligations on both MIL and you as the customer. These include requirements to make a full disclosure of material facts, and to notify claims and circumstances within a set period.
- As this is an insurance policy, there is a limit on the amount that you can recover during any given policy period.
Please read the insurance policy documentation carefully to ensure you understand the cover provided under the contract of insurance, including the obligations that it places upon you. A copy of the insurance policy and the key facts can be viewed here. Further information on the services and terms offered by MSL, including disclosure requirements, cancellation rights and the complaints process can be found in our Terms of Business Agreement, available here.
Should you wish any further information, or wish to discuss your insurance requirements, then you can contact us here [email link] or on [telephone].
Please note that MSL does not provide advice on contracts of insurance. All sales are non-advised and it is your responsibility as a customer to select the product appropriate for your needs. MSL has produced a statement of demands and needs for medical malpractice insurance, which should be considered and can be accessed here.
MSL does not hold client money. Any premiums paid to MSL are deemed to have been received by the insurer (MIL) and are treated as belonging to MIL.
MSL is paid commission by MIL, which is disclosable upon request. MSL does not charge fees to customers for arranging insurance. MSL can be contacted at xxxxxx.