The Rising Number of Royal Commissions That Can Affect Your Medical Indemnity Insurance

“The increasingly frequent calls for Royal Commissions in this country cannot, and should not, be dismissed as some passing fad or fashion.”  – Former High Court Justice, Kenneth Hayne.

Tego Insurance believes the healthcare industry must prepare for the coming real change by monitoring the current Commissions closely and taking proactive steps. The fact is that in Australia we have four Royal Commissions going on currently that deal with:

  • Aged Care Services
  • People with Disability 
  • Our Mental Healthcare System 
  • Management of Police Informants 

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Healthcare providers must be proactive

We are expecting the Royal Commissions to have a real impact on our industry moving forward. What this could mean is that the findings of these Royal Commissions will more closely reflect future laws

“People want and expect real change … With the active participation of people with disability and the disability community at large, the Royal Commission provides an opportunity to achieve transformational change. It is a very large challenge, but it is one that should be embraced.”

Tego Insurance providers to the Rescue

The experts at Tego Insurance will be following these Commissions very closely and we recommend that if you are a healthcare provider, doctor, nurse or healthcare facility, you do the same. What are the messages these Commissions are sending out? How will their new rules affect your practice and business in regards to medical professional indemnity insurance, GP medical indemnity insurance, medical malpractice insurance and more?

Plus, how will they change your medical indemnity insurance costs. Whether it be changing practices to support better culture, reporting of incidents, provision of services, engagement with clients and family, understanding diversity of need, or support for staff.

Waiting for the final reports may be too late, particularly in an environment where we know that the Government will likely act on the findings of the Royal Commissions immediately in order to address the public’s demand for action.

In Conclusion

The legal team at Tego Insurance are at the ready to help you understand the new rules concerning your healthcare practice. Tego Insurance offers medical indemnity insurance for medical practitioners underwritten by Berkshire Hathaway, a brand globally synonymous with trust and integrity. We have a profound understanding of the Australian medical profession and the ever-changing healthcare industry. It’s this expertise that allows us to provide leading cover with more choice, innovation and greater flexibility. Contact us to find out more.

This publication is general in nature and is not comprehensive or constitute legal or medical advice. You should seek legal, medical or other professional advice before relying on any content, and practice proper clinical decision making with regard to individual circumstances. Persons implementing any recommendations contained in this publication must exercise their own independent skill or judgment or seek appropriate professional advice relevant to their own particular practice. Compliance with any recommendations will not in any way guarantee discharge of the duty of care owed to patients and others coming into contact with the health professional or practice. Tego Insurance Pty Ltd is not responsible to you or anyone else for any loss su­ffered in connection with the use of this information. 

By Eric Lowenstein on Tuesday, January 7th, 2020 in General. No Comments

Eric Lowenstein

Eric is the CEO of Tego, an insurance agency offering specialist indemnity insurance solutions for the healthcare and life sciences sectors. His qualifications include a bachelor’s degree in business and law, a master’s degree from UNSW in law and management and an MBA from the AGSM.

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